download songs from the file-sharing network. Then the record companies would lose their source of revenue from selling records. 3. What steps would you take to avert further damage in terms of corporate social responsibility‚ after the payola scandal unfolded? Explain your answer. In order to avert further reputational damage‚ the records companies could engage in a number of corporate social responsibilities activities such as charity events or lend a support to a cause (e.g. against drug
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Md Haque BUS 685 Case 1 – The Bribery Scandal at Siemens AG Analysis: On November 15‚ 2006‚ five Siemens employees were taken into custody in connection with suspected bribery‚ tax evasion and embezzlement of company funds related investigation. Police raided 30 offices and private homes in Germany. The authorities found €420M of questionable payments made over a seven year period from 1999 to 2006. Siemens documents reflected the questionable payments were made to external consultants. The
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Attan Attan is a traditional Afghan dance. It is said to be one of the oldest forms of Afghan Pagan dance. It is usually performed with a Dhol‚ which is a double-headed barrel drum. The dance can be anywhere from 5 minute to 30 minutes long. There are many different regional variations of Attan‚ the most famous being Kabuli‚ Paktiyaya‚ Mazari‚ Kandahari‚ Sistani‚ Herati‚ Pashayi‚ and Nuristani. During King Yama’s time‚ Attan was performed before going to a war because it used to give the army the
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Two felonies and eight years later‚ Christine Beatty‚ former Detroit Chief of staff entangled in the infamous 2008 Detroit political sex scandal with then mayor‚ Kwame Kilpatrick opens up about the scandal and shares her story of self-redemption. December 1‚ 2008‚ is a day that remains in infamy for former Detroit Chief of Staff‚ Christine Beatty who was sentenced to 120 days in jail after pleading guilty to two felony obstruction of justice charges. Both Beatty and Kilpatrick were accused of
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INTRODUCTION Corporate Scandals also known as Accounting Scandals are business scandals that originate from the misstatement of financial reporting by the executives of public companies who are trusted to run these organizations. These misrepresentations happen through overstating revenues‚ understating expenses‚ Overstating assets or understating liabilities‚ use of fictitious and fraudulent transactions and direct falsification of financial statements to give a misleading impression of the companies’
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settlement‚ Nixon then turned around‚ and fired him‚ which caused a whirl wind of events1. From there‚ the Supreme Court then ordered that the President give up his recordings. The tapes would end up revealing Nixon’s involvement in the whole Watergate Scandal. Whether‚ or not‚ Nixon had actually been the one to order the Watergate apartment break-in‚ is still uncertain‚ but through the tapes‚ it was proven that Nixon had authorized payments‚ and bribes‚ to the five burglars to persuade them to remain
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Causes for Generation of Black Money There are several factors responsible for the emergence – of black money. It would be relevant to discuss those factors so that a correct understanding about the genesis‚ growth and expansion of black money can be made. The principal factors are: (i) Beginning of the evil: The beginning of this evil can be traced to the Second World War. During this period supplies of industrial goods from the traditional suppliers of the West were cut off. This resulted in
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The Effect of SOX Section 404: Costs‚ Earnings Quality‚ and Stock Prices Introduction The Securities and Exchange Commission (SEC) Responsible for the application of the law THE SARBANES–OXLEY ACT (SOX) was passed in 2002 after a string of high profile corporate scandals. The law’s main goal was to improve the quality of financial reporting and to increase investor confidence‚ which requires companies to put in place and periodically test procedures that monitor the internal systems ensuring accurate
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Wk2 Assignment: The Enron and WorldCom Scandals Student Name ACC/260 Date Instructors Name[Page Break] 1. Which segment of its operations got Enron into difficulties? The guaranteed loans that were intended to bridge the financing for investments from outside investors that could not be found would be the segment of operations that caused Enron difficulties. 2. Did Enron’s directors understand how profits were being made in this segment
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Assignment: The Enron and World Com Scandals ACC/260 September 17‚ 2010 Pp 106-107 1. Which segment of its operations got Enron into difficulties? The segment of operations that started the difficulties with Enron went back to the guarantee of loans in order to bridge financing with investments of an outside investor that was never found. Documents were later forced to be restated with activities of other companies that had to be consolidated into Enron’s accounts. 3. Did Enron’s directors
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