Enron The affect of the unethical behavior of the profitability of Enron was that the third party “outside” independent auditors was not able to backup and have accounting financial statements‚ some of those auditors and financial institutions may have been misled by the corporation’s net income. If I was an accountant for this company I would have followed regulated federal security laws‚ and if failed to provide prove of documents or financial statements‚ I would admit to my mistakes but also
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Done by Iris Pene She was everything any teenage girl dreamt of being; tall‚ blond and beautiful. The kind of girl you would see posing for a cover of a magazine. Captain of the high school cheerleading squad and sat with the popular kids in the cafeteria. She was portrayed exactly how the first daughter should be and this was how she was to be seen through the eyes of the public. Sitting slumped in the corner of the couch with her shiny hair tied into a messy bun and the glossed pages of a magazine
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technology gadgets and items‚ so do I. If I was stranded on a deserted island‚ there would be unlimited things I would like to bring with me. However‚ since I can only bring three things‚ I would carry a knife‚ box of matches and a big jar. I believe those three things would help me surviving in such difficult living condition. First‚ a knife could be utilized in many ways. On such island‚ there could exist lots of wild and dangerous animals or species‚ from which the knife could protect me. Besides
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research. An attempt is also made to examine carefully some time tested procedures and the challenges the Revenue Authorities faces when mobilizing revenue. Various scholars and administrative practitioners have put out a lot of theories‚ concerns and views on GRA’s ability to mobilize revenue and how these monies mobilized are spent. Among the reasons assigned by such concerns and opinions is‚ the challenges of the GRA administration is to be blamed on inadequate revenue mobilization‚ due to lack of
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THE ROLE OF AUDITORS IN THE CONTEXT OF CORPORATE GOVERNANCE Asst. Prof. Loganathan Krishnan Abstract Auditors examine company’s accounts and report to the company on the accounts. Fundamentally‚ the concern is how auditors carry out these duties effectively. Legislations namely Companies Act 1965‚ Securities Industry Act 1983 which has been consolidated as Capital Market and Services Act 2007 have made major inroads to ensure that auditors carry out their duties and obligations effectively. Additionally
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Enron Ask Why? How Unethical and Illegal Behavior Ruined Lives Brief History of Enron Enron was an energy company based in Houston‚ Texas that dealt with the energy trade on an international and domestic basis. Enron formed in 1985 when Houston Natural Gas merged with InterNorth. After several years of international and domestic expansion involving complicated deals and contracts‚ Enron became billions of dollars in debt. All of this debt was concealed from shareholders through partnerships
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1. The Enron executive team including Kenneth Lay‚ Jeffrey Skilling‚ Andrew Fastow and other executives‚ were the key players in the crisis. The business practices they used when creating hundreds of SPE’s and diverting large amounts of liabilities to those off-balance sheet entities. Enron was aware of the minimal accounting guidelines for SPE’s and used them to their advantage. To create such a complex “paper” structure‚ the executives had to have coordinate their plans with the accountants
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are 20 multiple choice questions. You should allocate yourself 1.5 minutes per multiple choice question (i.e. a total of 30 minutes). This is NOT an open book exam. Choose the best answer from a)‚ b)‚ c)‚ d) or e). Q1 Economics is the study of a) the share market and its effect on consumers and businesses b) money and how it is used by society * c) unlimited wants and limited resources d) unlimited resources and limited wants Q2 Which of the following does not
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AUDIT EVIDENCE Audit Evidence Definition : All the information used by the auditor in arriving at the conclusions on which the audit opinion is based. This includes the information contained in the account records underlying the financial statements and other information. Additionally‚ audit evidence should be persuasive‚ rather than convincing. There are different levels of reliability of audit evidence‚ some providing more evidence than others. There are nine types of audit evidence :
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management of Enron including Kenneth Lay‚ Jeffrey Skilling and Andrew Fastow. These managers created a tone at the top of Enron that allowed and encouraged accounting that mislead investors. The audit team at Anderson and especially David Duncan the lead partner for Enron’s audit holds responsibility. Anderson was negligent in finding problematic accounting used by Enron. In addition‚ Anderson made millions on consulting services provide to Enron which makes their independence for Enron come into
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