Fraud at Satyam." The New York Times. The New York Times‚ 06 Apr. 2011. Web. 31 Jan. 2013. Timmons‚ Heather. "Fraud at Satyam." Nytimes.com. Nytimes.com‚ 7 Jan. 2009. Web. 31 Jan. 2013. Winkler‚ David. "India ’s Satyam Accounting Scandal." India ’s Satyam Accounting Scandal. University of Iowa Center for International Finance and Development‚ 1 Feb. 2010. Web. 31 Jan. 2013.
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Financial Scandals and the Role of Private Enforcement: The Parmalat Case Law Working Paper N° 40/2005 May 2005 Guido Ferrarini University of Genoa‚ Centre for Law and Finance and ECGI Paolo Giudici Free University of Bozen and Centre for Law and Finance © Guido Ferrarini and Paolo Giudici 2005. All rights reserved. Short sections of text‚ not to exceed two paragraphs‚ may be quoted without explicit permission provided that full credit‚ including © notice‚ is given to the source. This
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the infamous Watergate scandal in 1972 that led to the case of U.S. v. Nixon. The U.S. v. Nixon case tested the power of the president and his confidential communications with his aides. It was also a matter of protecting executive privilege and whether the other governmental branches can interfere with each other’s issues. Although the case mainly involved the president and his aides‚ the case also changed how presidential decisions affect our daily lives. The scandal started when five burglars
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With great power comes great responsibility. As police officers begin going through their training they soon realize the great power they will soon possess. As history and documented facts have shown us‚ many of them show great control and responsibility. On the other hand‚ there are a small percentage of officers who take advantage of their control and become corrupt. This brings scrutiny and lack of trust in police departments nationwide. Police corruption refers to police personnel who use their
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Peregrine Financial Group- Case study Last July 2012‚ a new financial fraud came out and hit the news headline‚ déjà vu‚ perhaps of other famous scandals‚ but not. This time a medium size financial institutions‚ name “ Peregrine Financial Group Inc” accused of shortfall of funds for around $200 million‚ where its CEO‚ Russell Wasendorf managed to misstated financial record for over 20 years‚ and finally in July 2012 filed for Bankruptcy. CEO‚ Russell Wasendorf‚ was no different than others high
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Examining the Failure of Arthur Andersen Hester Rall LDR 531 November‚ 28 2011 Tom Melpolder Examining the Failure of Arthur Andersen Introduction Organizational Behavior (OB) is the study of an organizations individuals‚ groups and structures and its impact on workplace behavior (Yukl‚ 2010). In reviewing the failure of the storied Arthur Andersen (AA) accounting firm we see the influence of individuals’ decisions‚ particularly that of its leaders‚ but also the lack of individual accountability
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"Corporate Fraud" when you hear those words the first‚ most recent incident‚ many think of is The Enron Scandal. This same scandal produced the Public Company Accounting Reform and Investor Protection Act of 2002. This much needed act created the Public Company Accounting Oversight Board under the Security Exchange Commission ’s supervision. This board sets accounting standards and investigates Certified Public Accountants and companies to ensure they are following the guidelines set forth. This
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In October of 2001 the Enron scandal was revealed‚ which led to their bankruptcy. It was the biggest bankruptcy reorganization in American history at that time. In the movie Jeff Skilling suggest that money is the only thing that motivates people‚ and I agree with him. Money might not directly motivate everybody but it plays a part in everybody’s motivation. Money is the reason people stay in school longer than required‚ the reason people work‚ and the reason why people get out of bed in the morning
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the Financial Accounting Standards Board (FASB) was established. The industry thrived in the late 20th century‚ as the large accounting firms expanded their services beyond the traditionalauditing function to many forms of consulting. The Enron scandals in 2001‚ however‚ had broad repercussions for the accounting industry. One of the top firms‚ Arthur Andersen‚ went out of business and‚ under the
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of the many scandals of the 2000s. Loosevelt brings up one of the most important repercussions‚ the possible jail time for fraudulent acts and‚ “A requirement that individual audit partners must be rotated at least once every five years…” (Loosevelt). Gary Giroux also shows the prevalence of accounting fraud by discussing “The Sarbanes-Oxley Act was passed in 2002 basically to eliminate future scandals.” (Giroux). Giroux also names “greed and hubris” as reoccurring themes in scandals. I began to
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