From the Desk of: Imran Omer Case Study: WorldCom From its beginnings as a long distance call player to handler of Internet data traffic‚ WorldCom was a spectacular firework in the sky before it crashed out as one of the biggest bankruptcies America has witnessed in its corporate history. WorldCom carried more international voice traffic than any other company. It carried a large amount of the world‟s Internet traffic. WorldCom owned and operated a global IP (Internet Protocol) backbone that
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MD. ZULKIPLI MATRIC NO : 1333430136 Dr. Abdullah bin osman Enron : Questionable Accounting Leads To Collapse History ENRON CORPORATION. Enron‚ a corporation headquartered in Houston‚ operated one of the largest natural gas transmission networks in North America‚ totaling over 36‚000 miles‚ in addition to being the largest marketer of natural gas and electricity in the United States. Enron managed the world’s largest portfolio of natural gas risk management contracts and
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Enron: The Fall from Grace/ The World’s Biggest Fraud Outline A. Enron’s History B. Overview of Enron’s Operations 1. Wholesale Services 2. Energy Services 3. Global Services C. Enron’s Timeline D. Enron’s Role in The Energy Crisis in California E. The Fall of Enron F. Why Enron Fell from Grace? G. The Crash of Enron 1. Key Management at Enron 2. Enron’s Auditor 3. Credit Rating Agencies 4. Investment Banks 5. Links with The Government (Bush Administration) 6. The Link of Enron with The British
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The Illusion That Took the World by Surprise Enron: The Smartest Guys In the Room is a movie about Enron and how it fooled the world into believing it was one of the most stable and profitable companies in the U.S. This is very sad because many people believed in the figures Enron was producing and entrusted their life saving in Enron stock. The scandal didn’t just affect a small group of people but 10’s of thousands of people lost everything‚ due to an illusion. Kenneth Lay earning a Ph
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Enron Case Study XXXXX XXXXXXXXX State College Enron Case Study Enron was a corporation founded in 1985‚ when a merger combined Houston Natural Gas and InterNorth (Thomas‚ 2002). Throughout the first five years of Enron’s existence‚ they had many struggles. According to Salter (2005)‚ the first years had many “near death” experiences. Eventually Enron was able to prevail over their many “near death” experiences. In 1989‚ “Enron locked in its first fixed price contract to supply natural
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wife and children‚ was a company created in 1998 by Enron ’s CFO‚ Andrew Fastow‚ to buy Enron ’s poorly performing stocks and stakes and bolster Enron ’s financial statements. Fastow proposed in October 1999 to Enron ’s finance Board the creation of LJM2 Co-Investment L.P. Fastow would act as general director of a much larger private equity fund that would be funded with $200 million of institutional funds. The question of Fastow’s dual role as Enron ’s CFO and LJM2 ’s general director was not viewed
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Enron Case Study A company’s leadership and culture influences its business ethics. A company’s culture is known as the organizational culture. It is the actions and beliefs of individuals that work at the company. All the shared values and enforced policies contribute to organizational culture. “The leadership culture appears as an integral part of the organizational culture and it can have a positive or negative influence upon the latter.” (Popa‚ 2013‚ p. 179). The organizational culture
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Enron Corporation (former NYSE ticker symbol ENE) was an American energy‚ commodities‚ and services company based in Houston‚ Texas. Before its bankruptcy on December 2‚ 2001‚ Enron employed approximately 20‚000 staff and was one of the world’s major electricity‚ natural gas‚ communications‚ and pulp and paper companies‚ with claimed revenues of nearly $101 billion during 2000.[1] Fortune named Enron "America’s Most Innovative Company" for six consecutive years. At the end of 2001‚ it was revealed
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“A white paper is a government report outlining policy or authoritative report on a major issue. White papers discuss a specific business issue‚ product‚ or competitive situation.” The Aftermath Affects On December 2‚ 2001‚ Enron filled for bankruptcy under chapter 11 of the US banking code. This sudden collapse of one of Fortune 500 largest companies shocked the world. Once the world’s largest energy company‚ Enron’s scandal became the largest bankruptcy recognition and was attributed as the
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Question 1: What are the primary goals and tenets of SOX with respect to fraud? The Sarbanes-Oxley Act of 2002 was created to reduce financial statement fraud by two main congressmen; Senator Paul Sarbanes and Representative Michael OXLEY. The primary goal of the SOX was to fix auditing of US public companies ‚ also SOX improvement of the quality of audits in an attempt to eliminate fraud in order to protect the public’s interest‚ as well as for the protection of the investors (Donaldson‚ 2003)
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