DIRECTOR’S RESPONSIBILITIES Is Legislation in Malaysia sufficient post Enron & Worldcomm? Abstract Directors being pillars of corporate governance (Cowan‚ 2004) should at all times act honestly and use reasonable diligence in the discharge of their duties. This is more so in light of recent major corporate issues like ENRON & Worldcomm in the United States and the Transmile case in Malaysia. In essence directors are agents of the company and as agents‚ they owe a duty of trust to the company
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Acid precipitation affects stone in two ways: dissolution and alteration. The calcite dissolves when sulfurous‚ sulfuric‚ and nitric acids in polluted air react with the calcite in marble and limestone. Exposed areas of building and statues develop rough surfaces. Some of the material that makes them up are removed or corroded‚ thus‚ details and carvings are lost. Even sheltered areas of stone buildings and monuments are affected by acid precipitation. However‚ sheltered areas on limestone
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Austro-Hungarian Empire “ripe for dissolution” we must remember these different viewpoints because they were the main source of problems for the Austro-Hungarian Empire between 1867 and 1914. Based on the events listed in the book I would say that the Austro-Hungarian Empire was not ripe for dissolution‚ but they were close. From the outside‚ it did not seem like a nation that was ready to dissolve in 1914‚ but its internal ethnic strife and lack of proper control made dissolution in case of a crisis quite
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Topics: 1) Dissolution of a Partnership Firm. 2) Forms of partnership under Islamic Law. Submitted To: Sir. Usman Arshad Submitted By: Muhammad Hashaam Khalid BBA-12-043 Date: 26 November‚2012 Sub-campus (Bhakkar) Dissolution of a partnership Firm: Dissolution of a partnership firm means the ending of contractual relationship b/w all the partners. It means the closing of partnership business. According to partnership act: “ if there is dissolution of partnership
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Introduction The WorldCom fraud that came to light in 2002 was an example of many things that went wrong within the organization. Unethical conduct by its senior leadership beginning with Chief Executive Officer (CEO) Bernard Ebbers was certainly at the forefront of these problems. The question is should a CEO like Ebbers have been sentenced to prison for his liability in the WorldCom scandal? My answer is yes‚ he should’ve gone to prison as well as other CEOs who engage in
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conscience-focused business world. WorldCom became one of the world’s largest long-distance telephone services. With Bernard Ebbers at the helm‚ the corporate giant went from Wall Street Darling to Wall Street Pariah because of unethical decisions. Ebber denied involvement and was rightfully sentenced to 25 years in jail. The need for ethical decision making has become increasingly evident in today’s fast-paced business environment. In the case of WorldCom‚ a national company that would provide
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The most important consequences of the dissolution of the monasteries was its impact on society Explain why you agree with this view The dissolution of the monasteries between 1536 and 1541 were significant in their own right. However‚ they also had far reaching implications in terms of their effect on England‚ culturally‚ socially and in regards to the Church‚ with the extent of the consequences being influenced by the short and long term implications of all three of these issues. Firstly
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Business Ethics Doug Donofrio FIN/486 May 27‚ 2013 Mary Corcutt Eron and WorldCom are both companies that collapsed due to ethical violations. The major factors that lead to the dissolution of Enron Corporations and WorldCom will be indentified. The specific ethical violations in accounting practices at these two companies will be explained and the role of business ethics in strategic financial planning will be described. “Business Ethics are the standards of conduct or moral judgment that
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connection with business combination and wrongful us of off-balance-sheet arrangements. WorldCom was use creative accounting in order to make the financial accounting records to look good which is the profit increasing. They was used a liberal interpretation of accounting rules when preparing the financial statements. While the company acquiring MCI‚ it give the management opportunity to make the creative accounting. WorldCom had devalued hard assets while simultaneously increasing the amount of goodwill
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grounded in natural law‚ religious tenets‚ parental and family influence‚ educational experiences‚ life experiences‚ and cultural and societal expectations. The days of when people were simply trusted to always do the right thing are over with ENRON and WorldCom and the devastation that followed in the business world you are now guilty until proven innocent. Ethics are now written clearly out in agreements that are signed when people are newly hired and the employee is expected to follow those guidelines
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