The Cost of Fraud Prediction Errors

Net Benefit ◽

Trade Off ◽

Value Loss ◽

Fraud Prediction ◽

We compare seven fraud prediction models with a cost-based measure that nets the benefits of correctly anticipating instances of fraud, against the costs borne by incorrectly flagging non-fraud firms. We find that even the best models trade off false to true positives at rates exceeding 100:1. Indeed, the high number of false positives makes all seven models considered too costly for auditors to implement, even in subsamples where misreporting is more likely. For investors, M-Score and at higher cut-offs the F-Score, are the only models providing a net benefit. For regulators, several models are economically viable as false positive costs are limited by the number of investigations regulators can initiate, and by the relatively low market value loss a "falsely accused" firm would bear in denials of requests under the Freedom of Information Act (FOIA). Our results are similar whether we consider fraud or two alternative restatement samples.

The Cost Exemption in the Freedom of Information Regimes of the United Kingdom and Scotland: a Comparative Analysis

Legal Information Management ◽

10.1017/s147266961500047x ◽

2015 ◽

Vol 15 (3) ◽

pp. 195-202 ◽

Cited By ~ 1

Author(s):

Calum Liddle ◽

David McMenemy

Keyword(s):

United Kingdom ◽

Comparative Analysis ◽

Comparative Evaluation ◽

Case Law ◽

Freedom Of Information ◽

The United Kingdom ◽

The Cost ◽

North And South

AbstractIn this tenth anniversary year since freedom of information came into force north and south of the border, the authors, Calum Liddle and David McMenemy, undertake an in-depth comparative evaluation of the parallel cost exemptions found in the Freedom of Information Act 2000 and the Freedom of Information (Scotland) Act 2002. Does Scottish FOI indeed afford a more generous disclosure entitlement? And are applicants, in turn, employing comparatively weaker rights when requesting information from analogous English and Welsh authorities? A statutory analysis of the home nation provisions is complemented by case law and a nod to contemporaneous events.

The Cost of Fraud Prediction Errors

SSRN Electronic Journal ◽

10.2139/ssrn.3529662 ◽

2020 ◽

Author(s):

Messod Daniel Beneish ◽

Patrick Vorst

Keyword(s):

Prediction Errors ◽

Fraud Prediction ◽

The Freedom of Information Act and Medicare Cost Reports

American Journal of Law & Medicine ◽

10.1017/s0098858800006043 ◽

1981 ◽

Vol 6 (4) ◽

pp. 541-558

Author(s):

Laurence J. Shulman

Keyword(s):

Health Care Providers ◽

Human Services ◽

Third Parties ◽

Freedom Of Information ◽

Care Providers ◽

Health And Human Services ◽

Administrative Procedure ◽

Department Of Health ◽

AbstractHealth care providers must submit cost reports to the Department of Health and Human Services or its designated intermediary before they can be reimbursed for their services by the Medicare system. These reports closely detail the financial operations of the provider. Whenever third parties have requested copies of the cost reports pursuant to the Freedom of Information Act and the Department of Health, Education and Welfare (now HHS) has declared its intention to comply with the request, the providers have sued to enjoin disclosure.This Note evaluates whether the cost reports are confidential and therefore exempt from mandatory disclosure under Exemption 4 of the Freedom of Information Act. It concludes that they should not be exempt, but that even if they are, disclosure is mandated by a validly promulgated HEW regulation. This regulation was enacted in compliance with the Administrative Procedure Act, and should not be considered an abuse of the HEW Secretary's discretion.

Litigations in trauma and orthopaedic surgery: analysis and outcomes of medicolegal claims during the last 10 years in the United Kingdom National Health Service

EFORT Open Reviews ◽

10.1302/2058-5241.6.200100 ◽

2021 ◽

Vol 6 (3) ◽

pp. 152-159

Author(s):

Haroon Majeed

Keyword(s):

National Health Service ◽

Health Service ◽

Orthopaedic Surgery ◽

Financial Impact ◽

Freedom Of Information ◽

Coding System ◽

The United Kingdom ◽

Neurological Injuries ◽

This study analyses the outcomes of litigation claims in trauma and orthopaedic surgery between 2008/2009 and 2018/2019. Utilizing a formal request to the NHS Resolution under the Freedom of Information Act, the data related to claims against orthopaedic surgery were obtained. A total of 8548 claims were analysed and re-grouped to perform a meaningful analysis for the type of claims and the type of injuries. The total pay-out cost for the settled claims was over £1.2 billion. The most common types of claims were related to mismanagement (39.0%), diagnostic issues (17.6%), perioperative issues (15.9%) and alleged incompetence (10.2%). The most common primary causes for claims were patients’ dissatisfaction (52.2%), damage to the limbs (19.0%) and neurological injuries (9.2%). The highest amounts of damages paid out were related to patients’ dissatisfaction (37.7%), burns and bruising (31.0%), neurological injuries (24.5%) and damage to the limbs (22.3%). The number of claims and the pay-out cost were found to be steadily increasing; however, there was a slightly declining trend observed during the last two years. The cost of litigation continues to have a significant financial impact on the NHS. The recent declining trend is encouraging; however, surgeons need to take consistent diligent steps to avoid preventable causes that lead to litigation claims. The proposed change in the coding system of claims in the NHS Resolution will not only help to formulate a clear classification system but will also improve the learning from previous experience. Cite this article: EFORT Open Rev 2021;6:152-159. DOI: 10.1302/2058-5241.6.200100

Presidential Privilege and the Freedom of Information Act

10.3366/edinburgh/9781474442442.001.0001 ◽

2019 ◽

Author(s):

Kevin M. Baron

Keyword(s):

Social Learning ◽

Historical Analysis ◽

Public Information ◽

Executive Branch ◽

Executive Power ◽

Power Dynamics ◽

Freedom Of Information ◽

Contemporary Politics ◽

Government Secrecy

Executive privilege (EP) as a political tool has created a grey area of constitutional power between the legislative and executive branches. By focusing on the post-WWII political usage of executive privilege, this research utilizes a social learning perspective to examine the power dynamics between Congress and the president when it comes to government secrecy and public information. Social learning provides the framework to understand how the Cold War's creation of the modern American security state led to a paradigm shift in the executive branch. This shift altered the politics of the presidency and impacted relations with Congress through extensive use of EP and denial of congressional requests for information. When viewed through a social learning lens, the institutional politics surrounding the development of the Freedom of Information Act is intricately entwined with EP as a political power struggle of action-reaction between the executive and legislative branches. Using extensive archival research, this historical analysis examines the politics surrounding the modern use of executive privilege from Truman through Nixon as an action-reaction of checks on power from the president and Congress, where each learns and responds based on the others previous actions. The use of executive privilege led to the Freedom of Information Act showing how policy can serve as a congressional check on executive power, and how the politics surrounding this issue influence contemporary politics.

Developing Schedule With Linear Programming (Case Study: STTF II Project Komplek Sukamukti Banjaran)

International Journal of Innovation in Enterprise System ◽

10.25124/ijies.v4i02.77 ◽

2020 ◽

Vol 4 (02) ◽

pp. 34-45

Author(s):

Naufal Dzikri Afifi ◽

Ika Arum Puspita ◽

Mohammad Deni Akbar

Keyword(s):

Linear Programming ◽

Objective Function ◽

Project Scheduling ◽

Time Limit ◽

Minimum Time ◽

Service Cost ◽

Trade Off ◽

Overtime Work ◽

Shift to The Front II Komplek Sukamukti Banjaran Project is one of the projects implemented by one of the companies engaged in telecommunications. In its implementation, each project including Shift to The Front II Komplek Sukamukti Banjaran has a time limit specified in the contract. Project scheduling is an important role in predicting both the cost and time in a project. Every project should be able to complete the project before or just in the time specified in the contract. Delay in a project can be anticipated by accelerating the duration of completion by using the crashing method with the application of linear programming. Linear programming will help iteration in the calculation of crashing because if linear programming not used, iteration will be repeated. The objective function in this scheduling is to minimize the cost. This study aims to find a trade-off between the costs and the minimum time expected to complete this project. The acceleration of the duration of this study was carried out using the addition of 4 hours of overtime work, 3 hours of overtime work, 2 hours of overtime work, and 1 hour of overtime work. The normal time for this project is 35 days with a service fee of Rp. 52,335,690. From the results of the crashing analysis, the alternative chosen is to add 1 hour of overtime to 34 days with a total service cost of Rp. 52,375,492. This acceleration will affect the entire project because there are 33 different locations worked on Shift to The Front II and if all these locations can be accelerated then the duration of completion of the entire project will be effective