Ethical Observations Sean Kearns ACC291 May 27‚ 2012 Unethical accounting behavior and the resulting practices of it within businesses today is a very hot topic since the Enron accounting scandal of 2001. One might ask how does a scandal of this proportion come to be and can it happen again? What situations could lead to unethical behaviors and practices in accounting today that might cause history to repeat itself? The author intends to answer these questions and shed light on some insight
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expenses are just a few examples of unethical activities. Scandals and bankruptcies in the United States at companies like Enron and WorldCom Inc. have focused attention on the abuse of the power entrusted to executives by
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corporate financial scandals like those involving Enron and WorldCom. The act was created in order to combat corporate accounting fraud and enhance the quality of corporate financial disclosures. To accomplish this‚ the act created the "Public Company Accounting Oversight Board"‚ or PCAOB to oversee audits and compliance. History of the Act The Sarbanes-Oxley act arose as a result of several corporate accounting scandals that became public in late 2001 and early 2002. These scandals involved many publicly
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Tailhook Scandal LSCS Lewis Green07Senior Enlisted Academy Tailhook Scandal The careers of 33 admirals‚ and 400 naval aviators destroyed due to allegation of sexual assaults in what is the naval service biggest sexual assault scandal (Lewis‚ 2014). Senior Enlisted personnel must recognize the problems of sexual assault and strive to eliminate it to maintain discipline within the ranks. This essay will review the history‚ evolution‚ and effect of the tailhook scandal on the naval service. History
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the discussed background‚ problem statement‚ literature review‚ methodology‚ findings‚ and conclusion. 2. The authors argued that “the corporate scandal of the Transmile Group Berhad can be equated to the case of the Enron and WorldCom financial accounting scandals in the US many years ago”. Discuss the details of the aforementioned corporate scandal cases. 3. The article employs survey method to study the issue. Questionnaires were issued to auditors of the sampled audit firms through the mail
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“pervert the American dream." When he arrives back at the office everything is in utter chaos. All the employees‚ including the CFO Frank Bascombe‚ are running around the office shredding and burning documents trying to cover up the apparent corporate scandal that Dick
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institutions‚ corporations and dominant individuals such as civil officers and businessmen but will also be discussing a perspective of patriarchal structures that exert crimes of power over women. The crimes that would be discussed are financial scandals or frauds‚ illegal trafficking as well as acts against humanity and the environment. In examining the crimes committed‚ there seems to be one common factor. Most of them go undetected due to strong corrupted ties between the individuals and the government
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or wrong” (Daft & Armstrong‚ 2012‚ p.369). Unethical behavior is very common in organizations. When people need to make a decision‚ unethical behavior may appear‚ especially when decision choices conflict with one’s self-interests. The Enron Scandal is a very interesting topic to better understand what are some responses organizations may have to unethical behavior. Previous to its collapse‚ Enron was an energy giant based in Texas with Arthur Andersen as their auditor. Enron violated accounting
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certify the accuracy of their financial information. The law was enacted as a reaction to corporate accounting scandals that caused investors to lose billions of dollars. SOX was passed in 2002 and required senior managers to certify that their reported financial statement was accurate. SOX also required companies to establish internal controls and reporting methods. Recent Accounting Scandals Investors‚ creditors‚ shareholders‚ and others that use financial records to make sound business decisions
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presented on the Enron and WorldCom scandal. Tyco‚ Adelphia‚ and HealthSouth were selected to expand and support the information available in the WorldCom and Enron cases. Throughout the research process‚ the key findings collected suggest that: • Plans and designs of a good ethical work culture already exists‚ their implementation is what companies failed to do and continued to monitor in the entire business operations. • The scandals at all five firms involved fraudulent
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