YOU WERE LOOKING FOR :Learning Lessons from Enrons Bankruptcy
Essays 451 - 480
fraud when accounting (Miller & Bahnson, 2005). In addition to the GAAP standards, some businesses, especially those outside the U...
The writer analyses survey results provided by the student. The survey was undertaken to determine whether or not attitudes toward...
(Thomas). Employees who didnt do deals to post earnings ended up with higher score. The higher the score, the more likely the empl...
an explanation or the auditors may, in extreme cases, may not feel able to certify that accounts as true and accurate. The...
not the least of which includes employees, customers, suppliers, distributors, stockholders, interest groups, legal and regulatory...
the GEC directors took control of the company, and therefore the accounts this ?10 million profit turned into a $4.5 million loss ...
fraud, and it was with this we might argue there was the first loss of confidence in the auditors. This case limited the liability...
(Sun, 2006). The author remarks that internal auditors now have rock star status (Sun, 2006). Clearly, auditors are revered and ha...
with several different players each able to avoid feeling personally responsible there was a lack of a real moral compass. ...
and diligence and independence at the auditing level" (Anonymous, 2003). From a broader perspective, one of the main reason...
In the financial markets are regulated by the Securities and Exchange Commission (SEC). The principal purpose of the SEC is to "pr...
collapse of the company. One can only conclude that these executives decided that it was worth the risk to take actions that were ...
corporate governance has become an issue of regulation as seen with the Sarbanes-Oxley Act of 2002 in the US which indicate the in...
and do this? This provides an example of a moral individual who is placed in a slightly unmoral situation. In this regard,...
as consumers have an increased awareness of less tangible aspects, such as corporate governance and ethical and moral responsibili...
Johnson pulled all Tylenol products off the shelf at great cost in order to ensure the safety of consumers. The Company did this,...
done to rein them in. Even many business people felt that capitalism had to be saved from itself because it was an economic system...
as Gap and Nike (Mason, 2000). In some cases, the charges have been valid. Many Asian and other nations see no real...
processes (Chidi, 2002). Some of the accounting techniques used at WorldCom in order to supplement R&D write-offs included the use...
At the time, the SEC had examined the reports of many publicly-held companies and had required more than 100 to restate their resu...
to be on a continuing growth streak. Enron did not use proper or prudent caution in their diversification strategies. There did ...
a result of ending some of the companys more obscure partnerships (Leonard, 2001). And, it was these partnerships that severely h...
those who were relying on the company for pensions, directly or indirectly, those who worked for them, and those who worked for co...
audit functions were in accordance with Generally Accepted Accounting Principles (GAAP), hiding debt in dummy corporations, as wel...
benefit from various government subsidies, it also cheated millions of shareholders using questionable accounting practices design...
This demand is impacted by information regarding that share as well as market conditions. In the case of Enron and WorldCom the we...
its current ratio is understandable. WorldComs values in these two ratios reflect its precarious operation position. Neith...
effect to such things, and these situations are no different. When people lose jobs, families suffer, economies suffer, communiti...
problems were already apparent. In the annual accounts, debts had been understated and profits had been overstated to the amount o...
of philosophy dealing with right and wrong and the morality of motives and ends" (Shaughnessy, 2002, p. 20). But questions of ethi...