PAGE 1. INTRODUCTION……………………………………………………………… 1 1.1 Defining Corporate Governance………………………………………… 2 1.2 Principles of Corporate Governance……………………………………. 3 1.3 Importance of Corporate Governance………………………………….. 4 1.4 Objective…………………………………………………………………… 5 1. DIRECTORS & CORPORATE GOVERNANCE in INDIA……………….. 6 2.5 Need for Directors- Who is a Director…………………………………... 7 2.6 Statutory Definition
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Unethical Practices of Arthur Anderson: Week 2 Checkpoint ACC/260 – Accounting Ethics: Keeping It Clean September 26‚ 2013 Thomas Scholz What did Arthur Andersen contribute to the Enron disaster? Assistance! Arthur Andersen assisted Enron in deceiving stakeholders by revealing ways to generate false profits and hide losses through the development of Special Purpose Entities (SPEs). Enron’s consolidated financial statements did not depict or clearly
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Parmalat Finanziara‚ the Italian dairy and food giant‚ is fast joining Enron and WorldCom as a household name for corporate scandal. The alleged financial fraud at Parmalat spans more than a decade and involves sums whose estimates have ballooned from EUR 4 billion to more than EUR 8 billion. Founder‚ chairman‚ and chief executive Calisto Tanzi has been ousted from the company and board and is under arrest. Enrico Bondi‚ who replaced Tanzi in December‚ has been given new authority to act as sole
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The 10 Worst Corporate Accounting Scandals of All Time If there is one theme to rival terrorism for defining the last decade-and-a-half‚ it would have to be corporate greed and malfeasance. Many of the biggest corporate accounting scandals in history happened during that time. Here’s a chronological look back at some of the worst examples. Waste Management Scandal (1998) Company: Houston-based publicly traded waste management company What happened: Reported $1.7 billion in fake earnings. Main players:
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Running Head: UNETHICAL BUSINESS PRACTICES Unethical Business Practices in Corporation The Business Enterprise – BUS508 Professor Karmetria Burton Strayer University Lisa Brooks May 9‚ 2009 Abstract Many companies demonstrated questionable business ethics. It is my belief that businesses are so consumed with being competitive between their buyers and sellers until they lose site honesty and integrity. I have presented three various types of businesses which all exemplified
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Arthur Anderson & Co. was also to blame as they were the accountants for Enron. They were the ones with the expertise who should have known better and looked to fully explain and disclose what they knew. Anderson’s commitment is to the shareholders‚ not to their client and they needed to act in a way and present the statements fairly so that a user could make an informed decision and that the statements presented fairly. Enron is also to blame. They were focused on profits – which is not necessarily
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pornography is morally ethical or unethical and how society views it today. There were three key ethical theories used to related and cross-examine to see and understand the different views of pornography and how each ethical theory provides a different reasoning behind it. Whether pornography is ethical or unethical in society‚ this research paper provides you with concrete examples of why our society feels the way they do about pornography and what has influenced those decisions. Pornography can be depicted
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How did the corporate culture of Enron contribute to its Bankruptcy? Once a sound company listed in fortune 500‚ Enron‚ lead to downfall because of deceptive accounting system incorporated within the organization. Enron’s dubicious finance finally collapsed in Dec 2‚ 2001 as it filed Bankruptcy in New York Bankruptcy court. The corporate culture of Enron focused on financial performance neglecting the stakeholder’s value .The relentless emphasis on the importance of the shareholder’s value created
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16: CORPORATE GOVERNANCE – Combined Code Question 1 “Early skepticism about the self-regulatory nature of the Cadbury Report has melted away. It is now clear that self-regulatory codes have a useful role to play in solving the crisis which has been facing corporate governance. Discuss. i. Usefulness/doubts about Cadbury ii. Self-regulating code iii. Crisis-problem been solved? Introduction In as early as the 1960’s‚ successful commentators and businessmen have identified the significance
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ethical for the malls to refuse to hire the elvettes because it will be illegal based on discrimination if they refuse to hire them. I understand that the mall is advertising the brand name of Santa Claus and the customers want Santa Claus. It is unethical for them to disregard the elvettes just because they are female because they are selling the image of Santa Claus and if they look like Santa Claus then they should be accepted by the malls otherwise‚ they could refuse. Santa acted ethically by sending
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