associated with inappropriate behaviour have increased due to –Globalization –Heightened vigilance by •Employees •Shareholders •Regulatory agencies •Recent scandals in IT companies –WorldCom –Qwest Communications International Inc. –Adelphia Communications Corp. –Computer Associates (CA) Book Page
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employee rights. Many ethical conflicts develop from conflicts between the differing interests of company owners and their workers‚ customers‚ and surrounding community. Enron Corporation ’s fishy accounting practices‚ the siphoning of profits at Adelphia Communications Corp.‚ allegations of tax fraud and lavish personal spending of company money at Tyco International and WorldCom Inc. ’s bid to hide billions of dollars worth of expenses are just a few examples of unethical activities. Scandals and
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Understanding the Sarbanes-Oxley Act (SOX) and its impact on Generally Accepted Accounting Principles (GAAP) Chan Rajaram This paper is submitted in partial fulfillment of the requirements for graduation from Accounting Theory and Practice (BUSN 5600) Webster University Summer 2015 Abstract To discuss the origin and background of the Sarbanes-Oxley Act (SOX) and how it was implemented with an aim to improve accountability in the financial reporting process of all public companies. We
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Auditor Quality 1. Introduction Over the past 20 years‚ research has been carried out to interpret audit quality and still no agreement on the method of measurement for audit quality. This is because audit quality depends on individual understandings‚ and those conceptions rely on whose perspectives are taken into consideration. The International Auditing and Assurance Standards Board’s (IAASB) lately established Framework for Audit Quality (the Framework) in the purpose to systemize the
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Introduction Corporate governance can be defined as a combination of fairness‚ precision‚ accountability and sustainability of corporate behavior. Good Corporate governance is a key factor to achieve the improved performance of an organization. It is fundamental element to safeguard interest of shareholders. For continuous and sustainable growth of an organization‚ there is no alternative to effective Corporate Governance. The positive effect of corporate governance on different stakeholders ultimately
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Kozlowski ที่เกาะเมดิเตอร์เรเนี่ยน และ อพาร์ทเม้นแมนฮัตตั้นมูลค่า USD 18 ล้านเหรียญซึ่งมีม่านอาบน้ำมูลค่า USD 6000 เหรียญ Kozlowski และ Swartz เป็นเพียง 2 คนที่ก่อคดีของความร่วมมือที่ไม่เหมาะสม ที่ถูกตัดสินในครึ่งแรกของทศวรรษนี้ CEO เก่าของ Adelphia Communications คุณ John Regas ถูกลงโทษจำคุก 15 ปี (มันน่าจะยาวกว่านี้ แต่เขาอายุประมาณ 80 และมีสุขภาพทรุดโทรมในช่วงที่เขาถูกลงทัณฑ์) และลูกชายของเขา Timonthy ซึ่งเป็นผู้บริหารสายการเงินจองจำ 20 ปี พวกเขาถูกพบว่าได้ขโมยเงิน USD 100 ล้าน และซ่อน
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The difficulty in life is the choice. Well what a curious statement for me to make when that seems to be the totalitarian objective that we as individuals seek throughout our childhood and well into our adult lives; “the freedom of choice”. Then why does that statement seem to ring so true and prevalent in our society today? A culture where teachers and professors are now moving into the roles of “facilitators” where students are encouraged to get to answers to fundamental questions through discussions
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corporate managers and innocent bystanders were all embroiled in the chaos with the extent of corporate malfeasance being indeterminable. Collateral damage inflicted by scandals involving corporations such as Enron‚ Arthur Andersen LLP‚ WorldCom‚ Adelphia Communications‚ etc‚ was shocking. The occurrence of such business and audit failures led individuals in a state of contemplation. How did such situations occur; what could have been done to prevent them? This is where Enterprise Risk Management
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QUALITY AND ETHICS Corporate Social Responsibility by Denis Leonard and Rodney McAdam B usiness scandals involving high profile organizations such as Enron and WorldCom have rocked the corporate world and be-come front-page news. This has shaken consumer confidence in both business leaders and the economy‚ creating concern about In 50 Words Or Less • Recent scandals may be awakening corporate America to its social responsibilities. • Quality has a foundation in ethics through the teachings
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sustainability‚ and personal probity” (p. 22). However it is defined‚ in recent years the topic of ethics in organizations has received considerable attention in the business‚ scholarly and popular media. Huge scandals at giant corporations such as Adelphia Communications Corp.‚ Tyco International Ltd.‚ Global Crossing‚ WorldCom Inc.‚ HealthSouth Corp‚ FINOVA Group‚ Inc. and most especially‚ Enron Corp. have all illustrated the importance of organizational ethics (Jennings‚ 2003; Sims & Brinkmann‚ 2003)
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