Enron Corporation Before filing for bankruptcy in 2001‚ Enron Corporation was one of the largest natural gas and electricity companies in the world. In addition to being one of the largest bankruptcies in American history‚ Enron undoubtedly was the biggest audit failure. It was one of the most famous company in the world‚ but also one that fell down too fast. In 1985‚ Enron was created by a merge between Houston Natural Gas and InterNorth by Houston’s Natural Gas’s CEO Kenneth Lay. It was
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auditors and Enron and the existence of conflicts of interest. From 1993‚ Enron started to outsource its internal audit functions to Anderson. Besides‚ conflicts of interest gets aggravated when the cross-selling of consulting services by auditors increases a lot. And consulting fees to auditors are much lucrative than the audit fees. As a result‚ Enron could easily threaten Anderson to give a favorable opinions to the public and otherwise Anderson couldn’t maintain a good relationship with Enron. Most
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What is Corporate Social Responsibility and how could this influence the organizational behavior of “BreadTalk”? Corporate Social Responsibility refers to a company’s sense of responsibility towards the community and environment in which it operates. Companies express this citizenship through their waste and pollution reduction processes‚ by contributing educational and social programs‚ and by earning adequate returns on the employed resources. CSR is also considered as a strategy to create‚ develop
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Mr. Red Feliciano Enron Corporation’s Case Analysis Reference: Auditing and Assurance Principles by Jose Ireneo‚ Shirley Ireneo and George James 1. A. Fastow is one of the most responsible because being the Chief Financial Officer or CFO of the Enron corporation‚ he had a major influence. He was guilty of fraud‚ money laundering‚ inside trading‚ and conspiracy‚ among other crimes. Due to his acts such as misleading Enrons board of directors and audit committee on
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CORPORATE CULTURE AND THE INDIAN SOFTWARE INDUSTRY Introduction This article tries to explain the concept of corporate culture in general‚ its effects on the performance of employees in an organization. It then dwells on the specifics of the Indian software industry and then goes on to find out how organizational culture affects the performance of the software industry giving examples of specific software companies. Understanding and assessing your organization’s culture can mean the difference
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a verb synonymous with Internet search (“Google me. I’m a pretty big deal.”). A behind the scenes look at the corporate culture driving this company will reveal how Google has managed to gain such coveted permanence in daily life‚ how it will manage to stay in its place as the top search engine‚ and how it will maintain its relevance in the technology market. One definition of culture from Merriam-Webster Online (2010) is “the set of shared attitudes‚ values‚ goals‚ and practices that characterizes
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Parmalat It has been named as “Europe’s Enron” – the legend that took down Italy’s milk selling company Parmalat and its controlling executives‚ American banks‚ audit firms‚ even politicians and 130‚000 of its helpless small shareholders after the discovery in the year 2003 of the $14 Billion black hole in the company’s finances. The company’s fraud was uncovered when the company failed to pay the cash to the bondholders. Summary: This discovery led to eight years of court cases in Europe
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AUD610 SUMMARY OF CASE “ENRON” Prepared for: DR NOOR MARINI Prepared by: AFNANIN BT ABD AZIZ 2012212966 NOR IDAYU BT ISA 2012485132 SITI NORFAZILAH BT HAMIRUDDIN 2012670652 NOOR PARIHA AMIN NUDIN 2012660688 NURFARAHANIM BT MOHD SABRI 2009449842 ACKNOWLEDGEMENT Without the assistance‚ cooperation and guidance of several parties‚ this assignment would not be achievable. We
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Enrons Fall Kenneth Lay – CEO Auditors – Arthur Anderson Jeffrey Skilling – Consultant‚ Hired as a young consultant‚ as due to deregulation‚ Enron incurred massive debts. Jeffrey skilling was hired to come up with innovative new ideas. His revolutionary idea for Enron was to ‘create a gas bank in which Enron would buy gas from a network of suppliers and sell to a network of consumers‚ contractually guaranteeing both the supply and the price‚ charging fees for the transactions and assuming the
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Developing a Corporate Culture in the Abbot Classroom Education in New Jersey is coming under attack on a daily basis. An Abbott district‚ is a district of low-income students. In New Jersey‚ Elizabeth has been one such district. Elizabeth is a melting pot of cultures. People arrive here from all over the world. There are 142 different languages spoken by students in that district. The city of Elizabeth has over 126‚000 residents of which‚ over 67% speak a language other than English at
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