Retrieved on November 8‚ 2010 from Callahan‚ C. (2010). Sarbanes-Oxley – Introduction to SOX. Retrieved from WebTycho Classroom Week 6 class material on November 9‚ 2010. Erhemjamts‚ Gupta and Tumennasan (2009). The Effect of Sarbanes-Oxley Act on CFO Compensation and Rank. Retrieved on November 9‚ 2010 from http://69.175.2.130/~finman/Reno/Papers/Effect_of_SOX_on_CFO_Comp_and_Rank.pdf Institute of Internal Auditors Jahmani‚ Y. and Dowling‚ W. A. (October 2008). The Impact of Sarbanes-Oxley Act
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in which direction to take the company and what resources will be utilized to achieve the desired goal as set by management. WorldCom’s upper management was made up of Chief Executive Officer(CEO)‚ Bernard Ebbers‚ the Chief Executive Officer‚(CFO) Scott Sullivan‚ David Myers(Controller)‚ and Buford Yates( Director of General Accounting)‚ and a Broad of Directors. The way the company grew did not seem to be planned out thoughtfully from the beginning stages. The company grew to enormous
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Homework Chapter 10 1. Which of the following statements is CORRECT? a. The internal rate of return method (IRR) is generally regarded by academics as being the best single method for evaluating capital budgeting projects. b. The payback method is generally regarded by academics as being the best single method for evaluating capital budgeting projects. c. The discounted payback method is generally regarded by academics as being the best single method for evaluating capital budgeting projects
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alongside Richard M. Scrushy at Life Mart in Houston‚ Texas‚ Life Mart eventually became acquired. Together with Richard Scrushy they became founders of Health South a health care company that focused on outpatient services. Aaron Beam served as the CFO of HealthSouth; however‚ since their wealth was tied to the price of stock it soon became hard to meet market expectations which eventually lead the
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Report by Analysts of Group 6. Investment Recommendation:HOLD (Current stock is fairly priced) Business Analysis Overview The Swedish company Hennes & Mauritz AB is the second largest clothing retailer in the world‚ just behind Spain-based Inditex (parent company of ZARA). The H&M Group’s business consists mainly of sales of clothing‚ accessories‚ footwear‚ cosmetics and home textiles to consumers. In addition
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of 22‚000 towers either being managed or owned. Although the company is over a decade old‚ it is still considered to be young by industry standards. Problem: Despite the company’s success‚ the CFO believes that United Towers requires additional improvements in their reporting and accounting. The CFO recognizes that the accounting world is changing and that their company must stay current with these changes in order to remain successful. Technology is helping companies become more efficient with
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the best way to procure ACME’s computer system. The reason for this is because with the agreement‚ 50% was being paid up front‚ where that could still probably be acceptable in a revised agreement‚ however‚ the other 50 % was being pad upon delivery. ACME received full payment without any guarantee that the computer system would be what as expected out of the system. This then hurt the Florida Retail Company in the end because of the fact that the computer system was a giant mess for the company.
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Introduction In today ’s business world‚ corporations could be audited due to not following ethical and legal standards. The purpose of this paper is to discuss the legal‚ ethical‚ and social responsibility of Arthur Andersen. This paper will also analyze three factors that influence Arthur Andersen ’s strategic‚ tactical‚ operational‚ and contingency planning. The term ethics must first be defined to understand a few of the issues involving Arthur Andersen. According to Wikipedia‚ the
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industry was in a severe slump. WorldCom had a slow growth and rising cost. Vinson‚ who had done WorldCom’s accounting reserves‚ did not judge this action logical anymore. And she had no one to argue about this unethical action due to the fact that the CFO of WorldCom thought this could be justifiable. WorldCom’s outside accounting consultant known WorldCom ‘s actions and alliance with it. After KPMG took over the auditing of WorldCom‚ its action was finally get disclosed. 2. What is/are the ethical
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barrier between executives and the internal auditor and decreases any conflict that could be made between the parties. “It removes the defense of "I wasn ’t aware of financial issues" from Chief Executive Officers (CEOs) and Chief Financial Officers (CFOs) (SOX-Online). The act applies to all public companies in the United States and international companies that have registered with the Security and Exchange Commission and the audit firms they have hired as external auditors. This act was to enhance
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