to large corporations. This is an accounting firm that held by reputation and trust by public and investor but it facing bankruptcy in the end. Early of the 20th century‚ invertors don’t know who can be trust because there was spread of business scandals. All they need was auditors. Andersen establishes a company to be trusted. He and his auditors will check and certificate the company accounts if the accounts were honestly and accurately. Andersen advises his partners to pay attention on public
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developing nations for sale to adoptive families in rich nations. SCANDOLOUS ANDHRA PRADESH This essay uses the recurrent adoption scandals in Andhra Pradesh‚ India‚ as a case study of these two faces of inter country adoption. The Andhra Pradesh adoption scandals are significant in several ways. The United States and India have documented a cyclic series of adoption scandals from the South Indian state of Andhra Pradesh ‚ particularly between the period of 1995-2001. Several orphanages in that area systematically
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Understanding the context of an article‚ or particular situation‚ and the language used to describe events is important when it comes to considering how the reader will interpret the text. In The Sunday Telegraph article ‘Swim Scandal: Aussies See Red Over Chinese’ written by Halloran‚ J and Harris‚ A it is important to break down the important components of language used by the authors. Breaking down the article into field‚ tenor and mode will help the reader convey and understand the journalists’
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Societe Generale is a French bank founded in 1864 by a group of manufacturers and financiers. This bank was designed to encourage the growth of trade and industry in France. Its headquarters are in Paris and Nanterre‚ France. Currently Societe Generale has three main divisions that they focus on- these include: Retail banking and specialized financial services Corporate and Investment Banking Global Investment management and services Among these‚ their services also include specialized financing
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Enron’s Questionable Transactions 1. Which segment of its operations got Enron into difficulties? * The fact that Kopper was appointed to Fastow and he was an employee at Enron was the first thing that got them into trouble. Another reason was that over 11 million was invested and it ended up not being invested at all. I believe these two situations ended up being the start of Enron’s problems. Enron also was not reporting the revenue for service correctly and his stock was paid
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1. What explains the high level of corruption at Siemens? How did managers engaged in corruption rationalize it? In Germany‚ bribery was legal before 1999‚ now was illegal. However‚ Siemens continued bribery‚ they sent the money to the bank in Switzerland that was difficult to trace. Also‚ they hired a lot of “consultant” to help them accomplish corrupt business. Managers rationalized that bribes were looked like a “cost of doing business” and “useful money”. They believed this way could keep the
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In 1969‚ a sixteen year old student named Michael Kittredge made a candle out of melted crayons‚ a piece of string‚ and an empty milk carton to give to his mother as a gift on Christmas day. A neighbor loved the candle so much that she convinced Michael to sell her the candle. When Michael sold the candle‚ he had enough money to purchase additional supplies to make two more candles‚ and the rest was history. Today‚ Yankee Candle is the largest candle manufacturer in the world. The company produces
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The Watergate scandal was massive‚ but I don’t feel that it is the worst in history‚ although it would appear that way in the eyes of others. Maybe because this was before my time‚ but I don’t find the Watergate scandal surprising. Since then‚ there have been other scandals involving different presidents‚ including sex scandals and controversy around accurate voting counts. In my honest opinion‚ I feel the counting of votes controversy to be far worse. But to most people‚ during that time‚ I see
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The Accounting Scandal of HealthSouth HealthSouth Corporation is based in Birmingham‚ Alabama‚ it is the largest provider of rehabilitative health care services. It operates in 26 states in the United States of America and in Puerto Rico. HealthSouth provides rehabilitation hospitals‚ long term heightened care hospitals‚ outpatient rehabilitation satellite clinics and home health agencies. HealthSouth was found by Richard Scrushy in the year 1984 and was called
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Case 1-10 A). The Sarbanes Oxley Act (SOX) refers to " the Commission" in several sections. To what Commission is SOX referring? SOX is referring to the Securities and Exchange Commission (SEC). This Commission is has the " authority to determine GAAP ( Generally Accepted Accounting Principles)‚ and to regulate the accounting profession ( Gibson‚ 2013‚ p. 2)." Because the SEC has the authority over GAAP it also has authority over what is implicated in SOX. B). Describe the responsibility of the
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