turnaround team may use Gerard and Teurf’s key communication(s) to transform the ethical values of Tyco. 3 - 4 B. Using Ford and Ford’s FOUR (4) types of change conversation‚ describe how Tyco would go through the process of the communicating change. 5 - 7 C. Ed Breen applies four step of kotter’s eight-step Change Management Model to implement organizational changes to restore ethical value of Tyco. 8 - 10 Appendix Plagiarism Statement 11 Assessment Matrix - Written Report 12 Assessment
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9-104-071 REV: SEPTEMBER 14‚ 2007 ROBERT S. KAPLAN DAVID KIRON Accounting Fraud at WorldCom WorldCom could not have failed as a result of the actions of a limited number of individuals. Rather‚ there was a broad breakdown of the system of internal controls‚ corporate governance and individual responsibility‚ all of which worked together to create a culture in which few persons took responsibility until it was too late. — Richard Thornburgh‚ former U.S. attorney general1 On July 21‚ 2002
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Chapter 10 Closing Case 1. Tycos multibusiness model has changed a lot over time. At first‚ the strategy was diversification. Tyco acquired businesses in other industries to become the dominant competitor in these new industries. Then‚ Tyco decided to target low-tech products that commanded a large market share but had underperformed their competitors. Tyco would acquire these businesses if it passed an audit‚ and would transform them into profitable business units under the Tyco name. But as time passed
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SUBJECT: Accounting fraud at WorldCom Problem Statement WorldCom penetrated the largest accounting fraud in U.S history by overstating its tax income between 1999 and 2002. The main players in WorldCom’s accounting fraud included CFO Scott Sullivan‚ the General Accounting and Internal Audit departments‚ external auditor Arthur Andersen‚ and the board of directors. While individuals did have their own sins‚ employees cowardice and self-interested‚ the board passive and ineffective‚ external auditors
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The Bible & Accounting Fraud Liberty University Abstract Accounting is an information and measurement system used by mainly all businesses and organizations to provide relevant‚ reliable and comparable information about its business activities‚ (Wild‚ & Shaw‚ & Chiappetta‚ 2011‚ p.272). Accounting Information Systems is a fundamental part of determining the success of an organization. An effective information system provides Internal
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SUBJECT: Forensic Accounting Introduction In this memorandum‚ I will explain the reasons as to why managers feel more pressure than in past years. Also‚ I will discuss several ways that managers can commit fraud for personal gain‚ and how these schemes are eventually caught by forensic accountants. Rising Pressure There has been a growing trend to hold managers accountable for their company’s performance. Wall Street analysts have become enemies of CEOs. These analysts set target quarterly
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Accounting Fraud at WorldCom LDDS began operations in 1984 offering services to local retail and commercial customers in the southern states. It was initially a loss making enterprise‚ and thus hired Bernie J. (Bernie) Ebbers to run things. It took him less than a year to make the company profitable. By the end of 1993‚ LDDS was the fourth largest long distance carrier in the United States. After a shareholder vote in May 1995‚ the company officially came to be known as WorldCom. WorldCom culture
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(outcome) to the fraud‚ and the accounting schemes employed to get the fraud done. It presents examples of companies who have used inappropriate accounting practices. Enron‚ WorldCom‚ Tyco‚ HealthSouth and Adelphia were selected for analysis because of the availability of information regarding specific events occured before‚ during and after the fraud period as well as the ethical issues involved . There is abundant literature presented on the Enron and WorldCom scandal. Tyco‚ Adelphia‚ and HealthSouth
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Introduction By June 2002‚ it had become evident to the SEC that WorldCom had engaged in a significant corporate accounting fraud scheme which had overstated pretax income by about $7 billion since 1999. At the time‚ this was the largest deliberate misstatement in US corporate history. Although there are many interesting elements and players involved with this incident‚ for the purpose of this case study I will focus on the role played by Betty Vinson‚ the Director of Management Reporting and
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begins with a brief history of Tyco‚ followed by an explanation of Tyco CEO L. Dennis Kozlowki’s rise to power. As Kozlowki rose to become the second-highest-paid CEO‚ some red flags pointed toward the impending disaster. Most notably‚ Kozlowski’s aggressive approach to business‚ his lavish lifestyle‚ his clashes with the former‚ more conservative CEO‚ and his ousting of those who criticized Tyco’s activities all acted as indicators of Kozlowki’s unethical behavior. (Tyco International: Leadership in
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