STUDENT:0705080/1 QUESTION 1 (B) Evaluate the auditor’s role in the certification of the financial statements and conclude whether its work is effective in preventing major scandals on the lines of Enron and Worldcom. 1.0 ABSTRACT 2.0 ENRON-CORPORATE FIASCOS 3.0 HOW DID THE AUDITORS FAIL TO CATCH PROBLEMS AT ENRON? 4.0 HOW TO PREVENT RECURRENCE OF ENRON? 5.0 NEW RESPONSIBILITIES OF AUDITORS ACCORDING TO SARBANES-OXLEY ACT 2002 6.0 CONCLUSION 7.0 REFERENCES 1.0 ABSTRACT The responsibility of
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1. What are the objectives of Honeywell’s new risk management program? How do they relate to the goal of “maximize shareholder value? The objectives of the new risk management program was to develop a multi-year insurance based strategy that covered all traditionally insured global risk in a single master insurance policy which would provide; * the same if not greater earnings protection * have lower total program costs * have the flexibility to incorporate additional risks
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Ratan Naval TataPresent Chairman Of Tata Group(A Business Legend) INTRODUCTION1. Born: December 28‚ 1937.2. Achievement: Honored with Padma Bhushan‚ one of the highest civilian awards in 2000.3. Present Chairman Of Tata Group.4. He has taken Tata Group to new heights and under his leadership‚ Groups revenues have grown manifold. THE CHAIRMAN OF MAJOR TATA COMPANIES. CHILDHOOD Ratan Tata was born into the famous Tata family.A prominent family belonging to Mumbaiswealthy Parsi community
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Banking & Insurance Effect of Financial Crisis on Insurance Business João Ferreira Leandro Barbosa Luís Leão Mikolaj Mokwinski Index Introduction .........................................................................................................................................3 How do insurance companies work? ...................................................................................................4 Modern financial crisis affects the activity of insurers by 3 main mechanisms
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Enron Corporation and Andersen‚ LLP Accounting Fraud and Auditor Legal Liability 1 - What were the business risks Enron faced‚ and how did those risks increase the likelihood of material misstatements in Enron’s financial statements? The business risks that Enron faced included foreign currency risks and price instability‚ which is common for the energy industry. In addition‚ Enron faced pressure to perform well so that the stock price would rise. These risks increased
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09/12/12 Sam Lardner 6HI02/B – British Political History in the 19th Century (b) (i) Use Sources 4‚ 5 and 6 and your own knowledge. Do you agree with the view that‚ in the years 1838-48‚ attempts to enact the Charter failed because the Chartists’ political campaigns were undermined by Chartist violence? It can be perceived that violence undermined the Chartist’s
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creating a default. Investors were stuck with the defaulted shares and lost money but there was insurance for these kinds of stock they were called credit default swaps and created mortgage back security. The company AIG sold tenths and billions of dollars of these kinds of insurances. AIG sold a vast amount of these insurances but had no money to back them up when they would fail. As we know it things went wrong and there was no money to back up the default. The financial institutions stopped purchasing
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Messages from Point of View in Langston Hughes’ “I too” The writing of Langston Hughes in “I too” is significantly dependant on his point of view. The actions that occur in the poem are as realistic as they can get because Langston Hughes is speaking from the heart. He passed through the Harlem Renaissance and faced constant struggles with racism. Because of that‚ his writing seems to manifest a greater meaning. He is part of the African-American race that is expressed in his writing. He writes
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structure which allowed the Earlier investor to control more than the new investor. Therefore after the IPO‚ Zuckerberg was to retain 22% ownership share in Facebook and was to own 57% of the voting shares. However times has proven that the IPO went fiasco because the IPO was originally $34.03 and by June 1‚2012 the stock was closing at $27.72 and in report during June 6‚ The investor had lost $40 Billion Conclusion In a world where Facebook faces new threats and competition becomes fierce
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A Crisis So Severe‚ The World Financial System Is Affected Following a period of economic boom‚ a financial bubble—global in scope—has now burst. A collapse of the US sub-prime mortgage market and the reversal of the housing boom in other industrialized economies have had a ripple effect around the world. Furthermore‚ other weaknesses in the global financial system have surfaced. Some financial products and instruments have become so complex and twisted‚ that as things start to unravel‚ trust
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