WorldCom and Accounting Ethics ACC557 Assignment #1 April 29‚ 2013 Dr. Mohammad Rahman Deanna Williams Current business and regulatory environments are more conducive to ethical behavior due to many new laws that have been put into effect in recent years. For many companies‚ especially small ones‚ the checks and balances are not put 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
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the threat is at an acceptable rate. If the threat isn’t at an acceptable level then the application of safeguard must be done by the accountant to diminish or remove the potential results of the threat. (AICPA‚ 1.110.010.01-.18) In the case of Dennis Moberg as the CEO of Enron his conflict of interest must not only follow the process detailed in the integrity and objectivity rule‚ but also follow the confidential client information rule. This rule details how a director must not only be aware of general
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References: Cavanagh‚ Gerald‚ F.‚ Moberg‚ Dennis J. and Velasquez‚ Manuel (1981). The ethics of organizational politics. Academy of Management Review‚ 6 (3): 363-374. Guillory‚ W.‚ Stramwasser‚ R.‚ Pinos‚ V.‚ & Twigg‚ N. W. (2012). How ethical theory may enhance corporate social responsibilities
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White Collar Crime White collar crime is prevalent and brought to our attention more and more by the media since the mid to late 1990s. With the downfall of companies such as Enron‚ Tyco Toys and WorldCom MCI white collar criminals are facing lengthy prison sentences. Greed and personal vendettas are what have led our country to understand and gain more knowledge about these corporations and the corrupt CEOs that have brought them to their demise. “White collar crime is defined as various crimes
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Opinion Subject Terms: *EXECUTIVES; *CHIEF executive officers AVARICE Geographic Terms: UNITED States Company/Entity: TYCO International Ltd. -- Officials & employees Ticker: TYC People: KOZLOWSKI‚ Dennis‚ 1946- -- Trials‚ litigation‚ etc. Abstract: The author offers observations on Dennis Kozlowski‚ the former chief executive officer of industrial conglomerate Tyco‚ who is serving up to 24 years in prison. The author argues that if greed alone were grounds for imprisonment‚ much of Wall Street
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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 were selected to expand and support the information available in the WorldCom and Enron cases. Throughout the research process
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MINI-CASE 1 Porsche Changes Tack In pursuing the interests of Porsche’s controlling families different from maximizing the returns to its public share owners? Obviously‚ it is clearly to see that in pursuing the interests of Porsche’s controlling families different from maximizing the returns to its public share owners. Porsche had three major vehicle platforms: the 911‚ Boxster roadster and the Cayenne. Sales of these can help Growing portfolio‚ profitable and sustainable business. This is
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AFM 201 – Part 1 Auditing Fall 2007 Group Assignment 2 Publicized Cases of Alleged Audit Failures Involving Large Public Companies 1) Ten Publicized Audit Failures i. Parmalat (2003) - Deloitte & Touche Tohmatsu /Grant Thornton Misleading investors with “Brazen Fraud” was what the United States (US) Securities and Exchange Commission (SEC) had sued Parmalat for in 2003. It all began when Parmalat defaulted on a bond payment worth $185 million. This raised a flag for auditors and banks
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Executive Compensation and the Dramatic Increase in Corporate Accounting Scandals According to one estimate‚ the total median CEO pay at the nation’s 350 largest publicly-owned firms grew from $2.7 million annually in 1995 to $6.8 million in 2005. The overall increase in CEO pay has outstripped inflation and the growth in non-managerial pay over the same period. Equally important is the trend in the composition of CEO performance-based pay which includes stock and stock option grants. Median
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The goal of Friedman and Moberg is to persuade their audience that their point is more agreeable then someone else. Friedman the author of “The Great Indian Dream” and Moberg the author of “High-Tech Hijack” have both similar but very different ways of grabbing their readers with credibility‚ good reasoning and feelings. Friedman and Moberg grab their audience to persuade the reader about offshoring by using ethos which is ethical appeal‚ logos is logical appeal‚ and pathos which is emotional appeal
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