The Enron scandal‚ revealed in October 2001‚ eventually led to the bankruptcy of the Enron Corporation‚ an American energy company based in Houston‚ Texas‚ and the de facto dissolution of Arthur Andersen‚ which was one of the five largest audit and accountancy partnerships in the world. In addition to being the largest bankruptcy reorganization in American history at that time‚ Enron was attributed as the biggest audit failure.[1] Enron was formed in 1985 by Kenneth Lay after merging Houston Natural
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By: Leigh Overstreet THE WATERGATE SCANDAL Watergate is a hotel in Washington D.C. where the Democratic National Committee held their campaign headquarters. The current president at the time was Richard M. Nixon‚ who was involved in the scandal himself and which lead to the cause of his resignation. The Watergate scandal should not have happened‚ but it did and it caused the American people to judge less of their government system. The scandal began on June 17‚ 1972‚ with the arrest of five men
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Overview of Stakeholder Analysis on City Harvest Church Financial Irregularities As listed in a table‚ potential stakeholders will be reviewed according to their interests in City Harvest Church. Issues like benefits of the project to the stakeholders or activities that might cause damage or conflict to the stakeholders will be included. Each stakeholder will be listed in one column. Individual stakeholder’s interest will be reviewed on its importance to the success of the project. To ensure the
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Stakeholders. All of the actors involved in the sustainability management process is stakeholder‚ it is a way of distinguishing between the main groups towards which companies have different kinds of duty: in particular‚ shareholders‚ customers‚ consumers and employees. Effective stakeholder management as essential to the survival and prosperity of the enterprise. At the broadest level‚ stakeholders are individuals‚ groups‚ or entities(natural environment) that claim rights or interests in a company
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bankruptcy in 2001‚ Nancy b. Rapoport wrote this essay expressing her unique perspective on the real cause of Enron’s demise. This essay catches the reader’s attention instantly‚ because unlike abundant other articles written on the biggest corporate scandal in American history‚ the author here rejects Jeff Skilling’s (former president of Enron) argument1 of what brought about Enron’s downfall. She instead uses another metaphor‚ arguing that Enron’s downfall was more like Titanic’s- hubris and over reliance
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in the scandal‚ including the then senior Xerox management‚ the Board of Directors and external auditor KPMG LLP. The failure of those parties in discharging their duties induces the further thought of trust and accountability among them and shareholders. Furthermore‚ the external environment in 1990s‚ including economic bubble boom‚ irrational investors‚ fierce industrial competition and ineffective regulations on audit‚ provided a hotbed for the scandal. Lessons learnt from Xerox scandal indicate
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An analysis of The School for Scandal‚ by Richard Brinsley Sheridan “The School for Scandal” by Richard Brinsley Sheridan is generally considered as one of Richard masterful play that represents a comedy of manners. This play satirizes the deeds and customs of upper classes brought out through a witty exchange of ideas and a convoluted plot with comic situations that are utilized in order to describe the shortcomings of the characters. In regards to characters‚ the play entails stock type characters
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The Bofors scandal was a major corruption scandal in India in the 1980s; the then Prime Minister Rajiv Gandhi and several others were accused of receiving kickbacks from Bofors AB for winning a bid to supply India’s 155 mm field howitzer. The scale of the corruption was far worse than any that India had seen before‚ and directly led to the defeat of Gandhi’s ruling Indian National Congress party in the November 1989 general elections. It has been speculated that the scale of the scandal was to the
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obligation to bring to the attention of Enron ’s Board (or the Audit and Compliance Committee) concerns about Enron ’s internal contracts over the related-party transactions" (“Enron Scandal”). After reading about the scandal it seems as if Arthur Andersen was being pressured by Enron’s executive management
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The City of Bell Scandal The story of the City of Bell scandal is one of corruption and deceit where top city council officials are the perpetrators and the residents‚ their victims. The city of Bell was a prime and easy target for Robert Rizzo‚ Bell city manager‚ and several other city officials‚ including some within the Bell police force. This small town in the County of Los Angeles has a population of less than 40‚000‚ and over the past decade there has been a substantial decrease in public
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