Current issue: Scandals in auditing Enron Scandal 1. Introduction Accounting scandals are political or business scandals which arise with the disclosure of financial misdeeds by trusted executives of corporations or governments. These days‚ not too often‚ these scandals are splashed as headlines across media. Why? Because there are complex groups of stakeholders who might be seriously affected by the scandals. Enron scam was the most remarkable scandal in 20 centuries by their institutionalized
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auditors and Enron and the existence of conflicts of interest. From 1993‚ Enron started to outsource its internal audit functions to Anderson. Besides‚ conflicts of interest gets aggravated when the cross-selling of consulting services by auditors increases a lot. And consulting fees to auditors are much lucrative than the audit fees. As a result‚ Enron could easily threaten Anderson to give a favorable opinions to the public and otherwise Anderson couldn’t maintain a good relationship with Enron. Most
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Advertising differs from the publicity facet of public relations (to be discussed at length later in the semester) in that while advertising is paid for‚ news articles generated by publicity are never directly paid for. In addition‚ an ad has an identified sponsor while the fruits of publicity may not. In other words‚ if you see an ad for Coca Cola‚ you know that the Coca Cola Corporation paid to have it created. On the other hand‚ if you see an article about a new Coke product‚ you cannot be
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spaces in a city evolved without considering women as part of its functioning. Women tend to use more of designated public spaces that confirm to their gender roles. A medical precinct‚ revolving around the functioning of one or more medical institutions‚ is a gendered space and an extension of the care giving responsibility where most of the patients are accompanied by women. This study probes into the issues faced by women in a medical precinct taking the Trivandrum Medical College as an example
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problems of the Enron Scandal The main problem of the Enron scandal was that they committed business fraud. This is what the root problem of the company was. The sad thing about the Enron scandal was that approximately 22‚000 men and women lost their jobs. Not only did it affect the people who worked for the company but the problem was that it also affected other accounting firms that worked directly with Enron‚ for example the company Arthur Anderson went under because of the Enron scandal and this
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Managing a Crisis Using Public Relations Managing a Crisis Using Public Relations Proactive planning is the concept of planning AHEAD of the actual event‚ to be prepared for it‚ whatever happens. Being proactive is the opposite of reactive‚ which is waiting for failure. Proactive is the changing of parts before they fail. By being proactive you avoid being over-run by the event‚ and have plans and procedures in place to cope with it. Emergency organizations‚ like the police have plans for
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Public relations have always realized the importance of communication with its target audiences. Without it‚ an organization runs the risk of inconsistent public opinion from both its internal and external publics. Effective external communication is a vital part of an organizations public relations strategy. An organization may have several objectives in mind when it communicates with its external publics. Some of these include: Providing information to consumers about the organizations products
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The study of Public-Key Cryptography Enabled Kerberos Authentication by Sufyan and Mayada (2011) attempt to extend the Kerberos authentication protocol standard to support public key cryptography. This is to eliminate some of the limitations in the standard Kerberos protocol which uses symmetric key cryptography. There are 3 extensions to add support of public-key cryptography at different stages of the Kerberos framework‚ which are PKINIT‚ PKCROSS and PKTAPP. Public-Key Cryptography for Initial
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Enron History Special Purpose Entities (SPEs) were used and often abused by most large corporations in the late 1990’s. Enron was likely the corporation that abused the accounting treatment the most‚ but certainly not the only one. The Enron SPEs were not hidden from the auditors or the investing public‚ but were so extensive‚ invasive‚ and complex that no one‚ including primary architect‚ Andrew Fastow‚ was able to understand the total implications. The 2000 financial statements for Enron included
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Is it greed or simply ignorance which caused the Enron Scandal? Enron once was known as "America’s Most Innovative Company" and as of today‚ known as one of the most popular business bankruptcies and failures. Enron appeared to be doing really well‚ producing a lot of cash and new businesses‚ in October of 2001 that all changed. Enron reported a $618 million third-quarter loss and declares a $1.01 billion non-recurring charge against its balance sheet. Partially related to "structured finance" operations
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