definitely could have prevented the fall of Enron. First of all‚ if the board of directors made the right strategies for Enron rather than created hundreds of SPEs to remove assets and debts off balance sheet‚ the picture of Enron could have made a difference. Secondly‚ if the audit committee of Enron could point out all those aggressive and risky accounting treatment and propose solutions‚ then the afterward damages could be eliminate or at least minimized. c. The BOD of Enron should have known about
Premium Auditing Audit Auditor's report
There were various ways World War II could have been prevented. Small events led to the immediate cause of World War II‚ these events could have been averted. Isolationism should have been ended and Fascism could have been fought prior to the death of millions. Countries were selfish‚ especially the U.S.‚ when it came to getting involved in foreign affairs. Many countries faced their own economic depression and issues‚ resulting in political leaders turning their concern away from the threat of Germany
Premium World War II World War I Nazi Germany
WorldCom Failure in relation to its Organizational Behavior LDR/531 - Organizational Leadership October 7‚ 2010 WorldCom Failure in relation to its Organizational Behavior INTRODUCTION Year 2002 saw an unprecedented number of corporate scandals: Enron‚ Tyco‚ Global Crossing‚ etc. In many ways‚ WorldCom is just another case of failed corporate governance‚ accounting abuses‚ and outright greed. Many people may question if there is a secret to operating a successful business in modern times.
Premium Fraud Corporate governance Accounting scandals
From the Desk of: Imran Omer Case Study: WorldCom From its beginnings as a long distance call player to handler of Internet data traffic‚ WorldCom was a spectacular firework in the sky before it crashed out as one of the biggest bankruptcies America has witnessed in its corporate history. WorldCom carried more international voice traffic than any other company. It carried a large amount of the world‟s Internet traffic. WorldCom owned and operated a global IP (Internet Protocol) backbone that
Premium Operating expense Capital expenditure
the actions taken by WorldCom managers not detected earlier? What processes or systems should be in place to prevent or detect quickly the types of actions that occurred in WorldCom? The first reason is that both internal audit and external audit of WorldCom were not performing their role as intended. Generally‚ internal audit mainly focus on the reliability of financial reporting and the effectiveness of operations‚ and reports directly to the Board of Directors. In WorldCom‚ however‚ internal audit
Premium Audit Financial audit Auditing
Enron The collapse of Enron Corporation an American energy‚ commodities and services based Company in Houston‚ Texas reinforces why unethical business practices are not the foundation for an enduring and sustainable enterprise. Good business practices is rewarding because it builds sustainable company‚ trust‚ integrity and organizational growth. In the article Enron ethics: Culture matters more than codes‚ reminded us that before the scandal‚ Enron appeared to have the best organization
Premium Business ethics Enron Ethics
MD. ZULKIPLI MATRIC NO : 1333430136 Dr. Abdullah bin osman Enron : Questionable Accounting Leads To Collapse History ENRON CORPORATION. Enron‚ a corporation headquartered in Houston‚ operated one of the largest natural gas transmission networks in North America‚ totaling over 36‚000 miles‚ in addition to being the largest marketer of natural gas and electricity in the United States. Enron managed the world’s largest portfolio of natural gas risk management contracts and
Premium Enron
[1] What business was WorldCom in? WorldCom was in the business of telecommunications. Where was WorldCom located? WorldCom was located in Clinton‚ Mississippi. Who was the CEO? The CEO was Bernie Ebbers. Who was the CFO? The CFO was Scott Sullivan. What are the names of the two members of the internal audit staff who worked with Cynthia on their secret investigation? Gene Morse and Glyn Smith What made the internal auditors think that possibly there was a need to investigate WorldCom’s
Premium Auditing Financial audit Internal audit
History 9-10 Q: Could World War II have been avoided? World War II‚ I think‚ could have been prevented in two ways leading up to the war‚ if people realized how their actions would cause reactions. The war could have been prevented if the Treaty of Versailles wasn’t so harsh on the Germans. Without this motivation to gain back Germany’s pride and confidence‚ Hitler probably wouldn’t have rose to power. Even if Hitler was still angry‚ and looking for revenge he wouldn’t have had as many followers
Premium World War II Adolf Hitler World War I
Review of Accounting Ethics – Worldcom ACC557 Financial Accounting Cornelia H. Brown Strayer University Review of Accounting Ethics - Worldcom In a business world pressured to meet organizational objectives such as high revenue growth it is not alarming that conduct by decision makers may be deemed as questionable practices. These practices within the past two decades have resulted in a number of organizations finding themselves confronted with ethical dilemmas and the aftermath
Premium Decision making Public Company Accounting Oversight Board Ethics