Sean Russi The Case of Phar-Mor Inc ACCT-525 October 31‚ 2012 Case Summary The case of Phar-Mor Inc was one of the biggest pre-Enron frauds that have been uncovered. Phar-Mor Inc established in 1982 Phar-Mor was a small little known discount drugstore. Phar-Mor became well known for offering medications at a 25-40% discount rate compared to your normal pharmacy store prices. Phar-Mor’s first six years of existence seemingly were
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2. A) A client can be put in a more powerful position than the auditor in an auditor-client relationship if the auditor is trying to sell the client additional services. B) According to SOX external auditors are prohibited from providing certain services to clients: book keeping or other things related to the accounting records or financial statements of the audit client‚ they are not allowed to design and implement financial information‚ appraisal or evaluation services‚ internal audit outsourcing
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History Founding Henry Silverman‚ a business executive and private equity investor created Hospitality Franchise Systems (HFS) as a vehicle to acquire a number of hotel franchises in the early 1990s. Among Silverman’s purchases were such brands as Ramada and Howard Johnson’s as well as Days Inn‚ which he was able to buy for $290 million (less than half what he had sold it for) after the company had filed for bankruptcy in 1991. Silverman quickly took Hospitality Franchise Systems public in a
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people‚ Henry asks Sir Thomas More‚ a well respected lawyer and citizen‚ to support the divorce. This presents Sir Thomas More with an inner conflict. In Robert Bolt’s play‚ A Man for All Seasons‚ Thomas More resists pressures exerted by Henry XIII through Thomas Cromwell‚ The Duke of Norfolk‚ and Alice More. These pressures involve Thomas More in a battle of will‚ in which he faces a moral dilemma. Thomas Cromwell‚ More’s clever enemy‚ pressures Thomas More to succumb to King Henry’s demands
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by Robert Bolt‚ the main character Sir Thomas More‚ former Lord Chancellor of England‚ can be considered a hero as the historical background makes his actions very distinctive. As More was a person born in England at the time near the end of the Renaissance and the beginning of the Reformation in England. More was a nobleman‚ lawyer‚ humanist‚ writer‚ and he was also a long-time friend and favorite of the king in England that time‚ Henry VIII. More became the Lord Chancellor when Cardinal Wosley
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Sir Thomas More is not any of these men. He is not a man of extraordinary strength‚ exceptional good looks‚ or fights in any physical battles. Instead‚ More is the hero unlike any other. He can be defined as "a man admired for his achievements and noble qualities" or "one that shows great courage" (Merriam-Webster). He is one who fights a spiritual battle. One would say he is a martyr who is largely respected and looked upon as one of the greatest heroes of his time. Sir Thomas More is not a controversial
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upright moral sense and how he tries to find loopholes to defend himself. More strongly opposes Henry’s divorce but he rather than speak out against the Oath of Supremacy. More respects God’s law above all else‚ but he also does not pretend to understand it. Therefore‚ he sees man’s law best guide to action‚ even if it sometimes contradicts God’s law. His approach to moral action is sensible but not like Cromwell or Rich‚ if More sometimes seems like a hypocrite‚ it is because he is trying to keep his
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the reader to have a new or modified outlook on his/her own actions. If one turns the kaleidoscope of his/her life just a little‚ the world becomes a different place. Sir Thomas More lived the type of life that is foreign to many readers. More ’s actions were all based upon two things‚ his conscience and God. When More is being pressured into signing the oath by Norfolk in the name of fellowship‚ he replies by saying‚ " And when we stand before God‚ and you are sent to Paradise for doing according
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The Prince/A Man Of All Seasons: Analysis of Ethics PSC 504 September 26‚ 2013 In his book The Prince‚ Machiavelli presents a theory asserting that man needs a powerful leader in order to be successful. Machiavelli felt that a Prince must act in a way that guaranteed stability and order. However‚ his emphasis on political convenience was not in the service of the individual power of a Prince‚ but in allowing that Prince to do what was necessary for the sake of the
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wealth. This inequity leads to more discrepancies because money controls society. Having a large inequity in wealth can easily lead to a monopoly or oligopoly in a society. A monopoly is not necessarily created but if power “is concentrated in so few hands (an oligopoly you might say)‚ and these so rich‚ that the owners are never pressed to sell until they have a mind to” (19) in order for them to get their desired price. This results in the more power one man gains the more he is able to exercise his
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