Assignment #3 - Arthur Anderson: Questionable Accounting Practices February 11‚ 2013 Ethics And Advocacy For Hr Pro- HRM 522 Assignment #3 - Arthur Anderson: Questionable Accounting Practices 1. Discuss how the issues with the Arthur Anderson case may have played out differently if the Sarbanes-Oxley Act had been enacted in 1999. The provisions of Sarbanes-Oxley Act help minimize the likelihood of auditor failing to identify accounting irregularities by the following requirements:
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Case study 10.1 - THE RISE AND FALL OF WORLCOM Bernie Ebbers built WorldCom‚ Inc. (now part of Verizon‚ Inc.) into one of the world’s largest telecommunications firms. Yet he and chief financial officer (CFO) Scott Sullivan have become better known for creating a massive corporate accounting fraud that lead to the largest bankruptcy in U.S. history. Two investigate reports and subsequent court cases conclude that WorldCom executives were responsible for billions in fraudulent or unsupported accounting
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more transparency. Unfortunately‚ then SEC increasing standards came after a failure of the system. The Sarbanes-Oxley Act of 2002 is a primary example of legislation following financial market failure. Then came a second wave of scandals‚ led by WorldCom and Adelphia in the summer of 2002. As the stock market continued to plummet only a few months before the fall elections‚ Congress and the White House saw the need for action. This time‚ Congress rushed to pass the complicated Sarbanes-Oxley Act
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market. Moreover‚ Odlyzko noted that new technologies were increasing the amount of data that could be sent down existing fibers‚ reducing the need for new fiber. But with investment money flooding into the market‚ few paid any attention to him. WorldCom was still using the 1‚000 percent figure as
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solid oral dosage forms. It is the scientific framework for classifying drug substances based on their aqueous solubility and intestinal permeability. It is a drug development tool that allows estimation of the contributions of three major factors‚ dissolution‚ solubility and intestinal permeability that affect oral drug absorption from immediate release solid oral dosage forms. The interest in this classification system is largely because of its application in early drug development and then in the management
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The BCS is a scientific framework for classifying drug substances based on their aqueous solubility and intestinal permeability. When combined with the dissolution of the drug product‚ the BCS takes into account three major factors that govern the rate and extent of drug absorption from IR solid oral dosage forms: dissolution‚ solubility‚ and intestinal permeability. According to the BCS‚ drug substances are classified as follows: Class 1: High Solubility – High Permeability Class 2:
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market. Moreover‚ Odlyzko noted that new technologies were increasing the amount of data that could be sent down existing fibers‚ reducing the need for new fiber. But with investment money flooding into the market‚ few paid any attention to him. WorldCom was still using the 1‚000 percent figure as late as September
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siphoning of profits at Adelphia Communications Corp.‚ allegations of tax fraud and lavish personal spending of company money at Tyco International and WorldCom Inc. ’s bid to hide billions of dollars worth of expenses are just a few examples of unethical activities. Scandals and bankruptcies in the United States at companies like Enron and WorldCom Inc. have focused attention on the abuse of the power entrusted to executives by shareholders‚ employees and customers and they underscore the need for
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Unit 9 Project: The U.S. Should Not Abandon U.S. GAAP to Adopt to IFRS Amethyst McMillian Kaplan University CM220-42 Professor Manning October 1‚ 2013 U.S. Adopting IFRS The United States is coarsely going through a big dilemma. It is deciding whether to adopt International Financial Reporting Standards (IFRS)‚ or to stay with the current U.S Generally Accepted Accounting Principles (GAAP). Since this is such a serious decision‚ now would be an opportune time to take
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Journey of a Corporate Whistleblower. Wiley. Ferrell‚ O. C.‚ Fraedrich‚ J.‚ & Ferrell‚ L. (2005). Business Ethics Ethical Decision Making and Cases. Boston‚ MA: Houghton Mifflin Company. Lynne W. Jeter (2003). Disconnected: Deceit and Betrayal at WorldCom. Om Malik (2003) Sarbanes-Oxley Act of 2002‚ Accessed February 13‚ 2008. http://www.soxlaw.com/index.htm
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