WORLDCOM’s WHISTLEBLOWER Introduction: What began as a routine internal audit‚ transformed into the largest accounting manipulation of all time. Worldcom‚ a leading telecommunications company built from over 70 acquisitions‚ found itself ranked at the top of its class for illegal and creative accounting practices. Worldcom leaders successfully managed to erode the company market value from $180 billion in 1999 to approximately $350 million today. In June of 2002‚ Cynthia Cooper‚ Vice President
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Whistleblowers: Consequences of doing the right thing By Jose Gonzalez Dr. Aaron Bazzoli Park University MG 260 29 September 2013 Outline Purpose Statement: To provide an understanding what constitutes whistleblowing in an organization‚ what are some of the laws that protect whistleblowers‚ and provide several examples of employees blowing the whistle and their consequences? I. What constitutes a whistleblowing in an organization? A. Origin and Definition B. Internal
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| Whistleblowers and their protection | | | 1.0 Introduction Fraud is one of the risks will disruption business and its profitability. Fraud is based on trickery and deceit that it is particularly difficult to detect it. The most common means of detection fraud is whistleblowing. In certain countries‚ the term whistleblower is often associated with being a traitor or spy or even a snitch‚ and whistleblowers will be discriminatory or retaliation. Thus‚ establish an effectively
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Whistleblower Policy HR-PO718‚ | 1.1 Sharda Centre‚ Off Karve Road‚ Erandwane‚ Pune‚ Maharashtra‚ India 411004 www.techmahindra.com Copyright © 2013‚ Tech Mahindra. All rights reserved. WHISTLEBLOWER POLICY Company-Confidential Table of Contents 1. OBJECTIVE .................................................................................................................................. 3 2. SCOPE .........................................................................................
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Assignment: The Enron and World Com Scandals ACC/260 September 17‚ 2010 Pp 106-107 1. Which segment of its operations got Enron into difficulties? The segment of operations that started the difficulties with Enron went back to the guarantee of loans in order to bridge financing with investments of an outside investor that was never found. Documents were later forced to be restated with activities of other companies that had to be consolidated into Enron’s accounts. 3. Did Enron’s directors
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Important Observations of the Supreme Court and Murders of Whistleblowers. In Indirect Tax Practitioners’ Association v R.K.Jain the Supreme Court gave a precise meaning to the word whistleblower. “A whistleblower is a person who raises a concern about the wrongdoing occurring in an organisation or body of people. Usually this person would be from that same organisation. The revealed misconduct may be classified in many ways; for example‚ a violation of a law‚ rule‚ regulation and/or a direct
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into place as well as they should be. With new laws in effect and more and more accountants paying attention to their clients’ accounts‚ ethical behavior is on the rise although it will take a long time to recover from the scandals that rocked the world beginning with Waste Management in 1998 and following with Enron‚ WorldCom‚ Tyco‚ HealthSouth‚ Freddie Mac‚ AIG‚ Lehman Brothers‚ Bernie Madoff and Saytam in 2009. For 10 years unethical behavior and choices almost brought our country to its knees
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Whistleblowers What is the Whistleblowers Protection Act? The Whistleblowers Protection Act 2001 (“the Act”) supports the Government’s commitment to the principles of open‚ honest and accountable governance. It is designed to protect the public interest by: • exposing serious public sector wrongdoing; • ensuring public organisations are responsible and accountable; and • protecting whistleblowers from detrimental action and protecting their privacy. How do I become a whistleblower? A whistleblower
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Tripp‚ Kerr-McGee’s Karen Silkwood and Sherron Watkins of Enron are all on the same list of famous whistleblowers. All of these people have become famous because they provided information with the sole purpose of revealing wrongdoings by someone or a company. Some believe whistleblowers are traitors and should be punished: while others believe they are heroes and should be honored. Whistleblowers are being acknowledged as a great threat to companies and managers are realizing that they need to
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The Whistleblowers Protection bill The Union Cabinet has cleared a bill to protect whistleblowers and punish those exposing identity of people disclosing information. The proposed legislation‚ Public Interest Disclosure and Protection to Persons Making The Disclosure Bill‚ 2010‚ provides the Central Vigilance Commission powers of a civil court to hand down harsh penalty to people revealing identity of whistleblowers. The CVC will be empowered to take action against those who reveal the identity
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