1. From the United Way of America case:
a) Choose one of the charities that experienced fraud. Explain how the three elements of assurance are present in the case (asymmetric information etc.).
In the United Way charity, there were several fraud charges against its long serving president William Aramony. He was found guilty of embezzling millions of dollars that belong belonged to the charity and used them to finance lavish trips around the world and his amorous pursuits.
The first element of assurance that is present in this case is different goals. Those people donating to this charity intended Continue reading...