A business model of the times The Enron bubble was a prime example of the dominance of speculative finance in business. V. SRIDHAR MORE than two months after Enron‚ the seventh biggest corporation in the United States‚ filed for bankruptcy‚ the stench of scandal refuses to die. Shocking revelations about the company’s modus operandi continue to pour in. Public and media attention was initially focussed on the company’s close ties with the political establishment and the policy-making bureaucracy
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recent corporate scandals like Enron and WorldCom leading to trials and imprisonment of previously powerful (Chief Executing Officer) CEO’s public trust in CEO’s has diminished. Therefore when the story about the forged academic credentials of Dave Edmondson‚ CEO of Radio Shack came it re-ignited the mistrust. This paper will provide a brief background of the scandal and detailed analysis of the ethical issues involved and whether the actions taken by RadioShack were ethical or not. Background: Dave
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experiencing their own technological and industrial revolution‚ it was easy to understand the sheer destruction caused by the Great War. Countries felt the affects in nearly all aspects of their life during this time‚ from physical to economic eradication. Just over one-hundred years later‚ it is still crucial to discover what led to the first World War. An important aspect in understanding what caused WWI is the political and economic policies of European nations during this time. Driven by nationalism
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Evaluate the auditor’s role in the certification of the financial statements and conclude whether its work is effective in preventing major scandals on the lines of Enron and Worldcom. 1.0 ABSTRACT 2.0 ENRON-CORPORATE FIASCOS 3.0 HOW DID THE AUDITORS FAIL TO CATCH PROBLEMS AT ENRON? 4.0 HOW TO PREVENT RECURRENCE OF ENRON? 5.0 NEW RESPONSIBILITIES OF AUDITORS ACCORDING TO SARBANES-OXLEY ACT 2002 6.0 CONCLUSION 7.0 REFERENCES 1.0 ABSTRACT The responsibility of an auditor is to express
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Most people forget the role that the sun plays in our lives and they need to be reminded. SO our news team investigated the role that the sun plays in our lives. To start our investigation we researched all the things that the sun provides us with and the results were surprising. We found that the first effect of the sun going out would be that be the earth would be very dark and the temperature would quickly drop. In other words our climate would be a lot cooler. Another effect of the sun disappearing
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Document E could be one event that caused the Spanish-American War. The USS Maine was one of the first American battleships out there in this time and it weighed more than 6‚000 tons. Two weeks before the Spanish-American War‚ the Maine was sent out to Cuba to protect the interests of Americans due to Spanish ruling broke out in Havana. The USS Maine blew up in HAvana Harbor on February 15 1898. While travelling to Cuba‚ the USS Maine mysteriously blew up by going over a mine. Congress and most of
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one of the biggest companies in the world went bankrupt. Enron was a world leader in natural gas and oil‚ or so the investors thought. What seemed to be a booming company in a booming economy turned out to be one of the biggest financial scandals in the history of the world. Executives at Enron misled investors into thinking they were continuously growing‚ when the real numbers insured that they were losing money every quarter. Enron‚ founded by Kenneth Lay in 1985‚ became popular based on
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Overview Enron Corporation‚ once the 7th largest company in US and a global leader of electricity and natural gas industries‚ filed for bankruptcy protection in late 2001. It was revealed that the company had been hiding investment losses and created fictitious revenue through several complicated accounting gimmicks. Besides Enron’s senior management who created the whole fiasco‚ many people believed that several other parties‚ such as the Board of Directors and the external auditors should also
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unemployment was at an all-time high‚ with states averaging 20 percent. Some states had very high unemployment‚ such as Ohio with a 50 percent unemployment rate and Toledo with an 80 percent unemployment rate. The Great Depression was said to have been caused by many factors‚ including maldistribution of purchasing power‚ credit structure‚ international trade‚ and lack if diversification (Unfinished Nation‚ pg.
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Who really caused Jay Gatsby’s downfall? Imagine hearing about a friend or family member’s death and not truthfully knowing how they died. In the novel it states that George Wilson shot Gatsby‚ but what were all the underlying reasons… was it really him? The mystery of this non fictional death is a various blame game including all the events leading up to his death. It all starts when Nick Carraway moves to West Egg‚ a wealthy area‚ and gets invited to a party by the “big name” of Gatsby (Fitzgerald
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