Before getting into the Payola scandal and explaining what happened‚ it is important to know what payola is first. In the music industry‚ payola is the illegal practice of payment or other inducement by record companies for the broadcast of recordings on music radio‚ in which the song is presented as being of the normal day’s broadcast (Neira). A radio station can play a certain song in exchange for money‚ but the radio station must disclose this on the air as being sponsored airtime. The playing
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The rise and fall of Enron is a company that was lead to its own demise by it’s own leadership and ill business decisions. The motivational theories explained from the readings of Organization Behavior can correlate with the failure of Enron’s internal organization. Even though a company may appear to display successful business practices‚ the influence of leadership through management can ultimately lead the company to fail. Enron’s code of ethics prided itself on four key values; respect‚ integrity
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[pic] ACCTG 312 SC 2012: Assignment 1 Current issues – scandals in auditing Introduction • For this assignment‚ you are required to research and report back on one of four well known scandals that involve auditors in some way. • It can be commenced after week 1 lectures are completed‚ so gives you a chance to get part of your semester’s work done early. It is due in week 3 (Thursday at 4 pm). • You will also be required to very briefly report to your tutorial group on one interesting
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The Unexpected Collapse of Enron Colleen Long LDR/531 April 3‚ 2010 Kemit Grafton The Unexpected Collapse of Enron Beginning in 1985‚ Enron was formed through a merger of Houston Natural Gas and Internorth‚ Enron Corporation. It was the first nationwide natural gas pipeline network‚ which shifted its focus from regulate transportation of natural gas to unregulated energy trading markets. Enron was a huge company that traded electricity‚ oil‚ gas‚ plastics‚ and other variables
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Enron Summery of Enron case The Enron scandal has far-reaching political and financial implications. In just 15 years‚ Enron grew from nowhere to be America’s seventh largest company‚ employing 21‚000 staff in more than 40 countries. But the firm’s success turned out to have involved an elaborate scam. Enron lied about its profits and stands accused of a range of shady dealings‚ including concealing debts so they didn’t show up in the company’s accounts. As the depth of the deception
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Enron: Tone at the Top The fall of Enron is not just one of the largest bankruptcies in U.S. history‚ but in my opinion‚ a landmark case study of the lack of business ethics in an organization. Enron’s downfall‚ along with the demise of Arthur Andersen‚ one of the largest public accounting firms at the time‚ brought about a swift change in U.S. regulations governing how publicly traded companies reported their financials. While the top brass at Enron pled ignorance to the fact that they had no control
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A Scandal of Bias and Fact Over the past few years the NSA (National Security Agency) has been collecting massive amounts of phone call data from Verizon without the public’s knowledge. This information has just come to the public’s attention earlier this year‚ and has been covered by many news sources. Some sources stick strictly to the facts of the story and nothing more. However‚ other sources tend to focus more on their own bias rather than talking about the actual events that happened. There
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Nowadays‚ accounting scandal or financial statement fraud has increasingly become a serious issue and it threatens to undermine the profession of accountants and auditing companies. Therefore‚ I think that this has affected the way future accountants view the importance of accounting principles‚ future accountants will tend to neglect and disregard accounting principles even more regarding the present accounting scandals. I plan to start my introduction by explaining briefly what accounting is and
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The Watergate Scandal The Watergate Affair‚ is the worst political scandal in U.S. history. It led to the resignation of the president‚ Richard M. Nixon‚ after he became implicated in an attempt to cover up the scandal. "The Watergate Affair" refers to the break-in and electronic bugging in 1972‚ of the Democratic National Committee headquarters in the Watergate apartment‚ and office building complex in Washington D.C. The term was applied to several related scandals. More than thirty
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What exactly was the "mensalao" scandal? It was an alleged scheme that embezzled public funds to buy political support for the then Lula government and to pay off debts from election campaigns. The central accusation was that politicians from coalition parties were given large payments each month to support the minority government led by the Workers’ Party. The scandal nearly caused the Lula administration to collapse. How did the affair come to light? The scandal broke in 2005 when a congressman
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