4 Research Studies 4 Response to Surbanes-Oxley Act 5 Response to the European Commission’s proposals 6 Enron Failure 6 Arthur Andersen failure 6 Lehman Brothers failure 6 Ernst & Young failure 7 Detection of fraud 7 Going Concern 7 MINIMISING LITIGATION RISK 7 Obstruction of Justice 8 Consultancy service 8 Conservative Audit 8 Conclusion 8 References 9 EXECUTIVE SUMMARY In the UK‚ European Union and the United States the Global Financial Crises has sparked a
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Enron: What Caused the Ethical Collapse? Andrew Rumsey Post University Enron: What Caused the Ethical Collapse? Enron‚ a Texas based energy company‚ has improved the way that electricity and natural gas is purchased ever since its inception in 1985 when its owner‚ Kenneth Lay‚ merged his original company called InterNorth with Houston Natural Gas Company. In addition to this‚ Enron’s growth was attributed to not only the U.S. congress deregulating the sale of natural gas but its selling of electricity
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Angelica Winton Business 100 02/17/13 Enron: One of the Largest Scandals of the Twentieth Century Would you defraud millions of people and steal billions of dollars from them? The very idea likely makes your skin crawl. And yet‚ that is exactly what Enron‚ a massive power company did for many years. We shall see how their insatiable greed and lust for power was the cause of their downfall and ultimate ruin. Enron prided themselves on being ’’the smartest guys in the room.’’ The company
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different explanations are offered for the collapse of Enron‚ the nation ’s seventh largest corporation‚ yet it ’s leadership was an obvious factor that contributed to Enron ’s demise. It will be completely erroneous‚ however‚ to think that the leaders of Enron were anything but superb. From 1997-2001‚ the leaders of this company transformed Enron into a "corporation of the new millennium" and a favorite of investors and analysts. Most leaders of Enron like Chairman Kenneth Lay‚ Chief Executive Officer
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IN DEPENDENCE OF AUDITOR – ENRON AND ARTHUR ANDERSEN CASE Introduction The world economy in recent years has got some significant growth but also had quite serious scandals. They caused the shakes for many‚ both citizens and authorities. Therefore‚ it is a challenging time and it is the time for change. An absolutely necessity is to enhance the true reliable financial information because the success on the capital market depends on it. The key factor is to assure that auditors must take a completely
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The collapse of Enron is perhaps one of this century’s biggest and memorable scandals of this century so far. Created in 1985 through the merger of two natural gas companies‚ the Houston-based company was considered one of the most successful and powerful companies throughout the 90s. In 2001‚ Enron’s world came crashing down as the company was forced to reveal that it had defrauded people out of millions of dollars. Those hurt mostly by the collapse of Enron were the workers‚ whose loyalty and hard
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Enron: Smartest Guys in the Room by Amy Stavely 10 January 2015 Film Assignment Enron: Smartest Guys in the Room Enron is unquestionably the most well known ethical scandal of the business world. The only other scandal that even comes close is the Madoff Investment Scandal in 2008. Enron started out as a natural gas company but along the way added electricity along with pulp and paper to its list of commodities for sale. During it’s years of existence‚ Enron executives Kenneth
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CHM 2046 L Scheme of Analysis for Unknown 9A/9B “Fair Game” Unknowns * Cations: Na+‚ K+‚ NH4+‚ Ca2+‚ Mg(H2O)62+‚ Al(H2O)63+‚ Zn(H2O)62+‚ Cu(H2O)2+‚ Ag(H2O)+ * Anions: Cl-‚ NO3-‚ SO4-2‚ HSO4-‚ OH-‚ CO3-2‚ HCO3-‚ S-2 * Insoluble Salts: Ca(OH)2‚ CaCO3‚ CaSO4‚ Mg(OH)2‚ MgCO3‚ Ag2O‚ AgCl‚ Ag2S‚ CuO‚ CuCO3‚ CuS‚ Zn(OH)2‚ ZnCO3‚ ZnS * Alums: [Al(OH2)6]2(SO4)3∙6H2O‚ Na[Al(OH2)6](SO4)2∙6H2O‚ K[Al(OH2)6](SO4)2∙6H2O‚ NH4[Al(OH2)6]2(SO4)2∙6H2O * Hydrated Ions: Na2CO3∙10H2O‚ Na2SO4∙10H2O
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Mrs. S. is an 83 year old woman with multiple medical problems‚ including chronic obstructive pulmonary disease (for which she sees a pulmonologist)‚ atrial fibrillation and systolic heart failure (for which she sees a cardiologist)‚ hypertension‚ diabetes‚ depression‚ and mild dementia. She comes to your provider’s office today with a new list of medications. Her pulmonologist changed her inhaler from one brand/strength to another brand/strength‚ but she is not sure why. Her cardiologist took her
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1. What problems did Enron encountered? Many went sour in the early months of 2001 as Enron’s stock price and debt rating imploded because of loss of investor and creditor trust Methods the company used to disclose (or creatively obscure) it’s complicated financial dealings were erroneous and‚ in the view of some‚ downright deceptive The company’s lack of transparency in reporting its financial affairs‚ followed by financial restatements disclosing billions of dollars of omitted liabilities and
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