success‚ the Hong Kong Government invited the author to commission a 5-S Practice Workbook with ten successful case studies from the manufacturing‚ services and public sectors. Further‚ a grant has been given to the author to train up 2‚500 5-S lead auditors‚ the first of its kind in the world. The experience will also be shared in this article. 2. As noted in the case‚ Japanese companies typically rely more heavily on debt capital than do U.S companies. Explain how this fact may cause the independent
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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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References: U.S. Securities and Exchange Commission. Audit Committees and Auditor Independence. Retrieve from: http://www.sec.gov/info/accountants/audit042707.htm. October 27‚ 2014. U.S. Securities and Exchange Commission. Sarbanes-Oxley Act of 2002. Retrieve from: https://www.sec.gov/about/laws/soa2002.pdf. October 27‚ 2014.
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65 11.74 11.74 11.74 4. Unhealthy Accounting at HealthSouth 4.64 4.64 5.70 5.70 C.82 G.84 5. KPMG: How Many Firms? B.64 B.64 B.64 1.56 6. Something Went Sour at Parmalat 6.58 7.72 4.65 12.64 7. GE: How Much Are Auditors Paid? B.65 B.65 B.66 B.66 5.71 5.71 8. Satyam The above summarizes which chapter(s) and module(s) apply to the questions in the Mini-Cases. ANDERSEN: AN OBSTRUCTION OF JUSTICE? 1. According to the Merriam-Webster Online Dictionary
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Strategic management of KPMG: Creating a story Abstract Acknowledgement 1. Introduction 2. History of Accounting- Auditing and Professional Services The accounting and auditing history‚ as professional services is closely disciplined and they have related to the communication of information about economic events that has affected to government or private firm‚ was derived from the beginning of recorded history recent time. They are developing as a responded demands of the recent and the future
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CASE 2.7 CAMPBELL SOUP COMPANY Synopsis The Campbell Soup Company has dominated the soup “industry” since the company developed a cost-effective method of producing condensed soup products in 1899. Throughout most of the twentieth century‚ Campbell was known as one of the most conservative companies in the United States. In 1980‚ Campbell startled the business world by selling debt securities for the first time and by embarking on a program to lengthen
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Part 3 The bankruptcy of Enron not only significantly impact the employment and pension of workers‚ but also the relevant major financial institutions‚ including investment Banks‚ commercial Banks‚ pension funds and mutual funds. On Feb. 14th‚ 2002‚ the international accounting standards foundation chairman and former Federal Reserve chairman Paul pointed out that the obvious problems in accounting and auditing profession has formed a kind of crisis after a long-term period of existence. A typical
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coverups of client affairs. Senator Metcalf even went so far as to suggest nationalizing the industry in light of these activities. Just prior to the Metcalf report‚ Daniel Potter began working as a staff accountant for Baker Greenleaf‚ one of the Big Eight accounting firms. In preparation for his CPA examination‚ Dan had rigorously studied the code of ethics of the American Institute of Certified Public Accountants (AICPA) and had thoroughly familiarized himself with his profession’s guidelines
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accounting firms with offices in most major cities in the United States. These firms may operate internationally as well‚ either with their own offices or through affiliations with firms in other countries. The International Firms are considered to be the “Big 4”‚ which includes Deloitte & Touche LLP‚ Ernst & Young LLP‚ KPMG LLP‚ and PricewaterhouseCoopers LLP. These firms audit nearly all of the largest corporations. They offer a wide range of professional services‚ but auditing constitutes a large
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management of their clients and almost never questioned the reliability of the confirmations received. It was also revealed that sometimes the banks would send statements directly to the auditors even though they weren’t directed to do so. Even though the bank statements showed different balances then those given to the auditors by management‚ the audit team never questioned the differences in amount. Procedures‚ for reviewing audits‚ were put into place to assure that all audits are completed with the
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