Satyam Computer’s “creative-accounting” scandal‚ which brought to limelight the importance of “ethics and corporate governance” (CG). The fraud committed by the founders of Satyam in 2009‚ is a testament to the fact that “the science of conduct is swayed in large by human greed‚ ambition‚ and hunger for power‚ money‚ fame and glory”. Unlike Enron‚ which sank due to “agency” problem‚ Satyam was brought to its knee due to ‘tunneling’ effect. The Satyam scandal highlights the importance of securities
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concerning its audit on Enron which had filed bankruptcy in late 2001. The destroyed documents had led to an indictment for obstruction of justice on March 14‚ 2004. Further scandals surfaced and this time is WorldCom where they blame Andersen for failing to find the accounting irregularities however Andersen blame for the scandal insisting that the expense irregularities had not been
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the Financial Accounting Standards Board (FASB) was established. The industry thrived in the late 20th century‚ as the large accounting firms expanded their services beyond the traditionalauditing function to many forms of consulting. The Enron scandals in 2001‚ however‚ had broad repercussions for the accounting industry. One of the top firms‚ Arthur Andersen‚ went out of business and‚ under the
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Journey from Enron corporationTo Enron creditors recovery corporation | 10-14 | 4 | Enron’s injured parties | 14 | 5 | Lessons to be learnt | 15-16 | 6 | Satyam – An overview | 17-21 | 7 | The Satyam Scandal | 21-27 | 8 | Satyam Scam Parties Responsible | 27-32 | 9 | Aftermath of the scam | 32-34 | 10 | People affected from it | 35-37 | | Bibliography | | CORPORATE
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inflated their prices by as much as 348%. The scandal they soon became associated with arose when they bribed congressmen with stock to make them look the other way. This was common behind closed doors of the Gilded Age but what made it so known is that politicians got caught in the mess. Credit Mobilier is scored as the least bad because it wasn’t particularly exceptional as most businesses were involved in similar ethical corruption. What made it a scandal was the revealing of the involvement of congressmen
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"All The President ’s Men" By: Jackie Mikolajczyk 11-07-00 What is Watergate? Watergate is the biggest political scandal in The United States history. It included various activities to help President Richard Nixon win re- election in 1972. Watergate also resulted in Nixon ’s resignation from presidency in 1974. June 17‚ 1972 a security guard notified the police that a door lock was taped at the Washington ’s Watergate. Three officers responded to the call and found five
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Section 1: Introduction. Tyco is a multinational corporation that deals with industries from hospital suppliers to fire sprinklers. To some‚ Tyco epitomized the excesses that could occur from success. Some executives plundered the company for personal gain‚ which affected its very survival and the employment of thousands of employees. The organization’s culture required substantive change. In this assignment‚ I will review and write a case study analysis based on how Tyco overcame the frustration
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Introduction The parade of corporate accounting scandals of the last decade‚ with lion’s share occurring in 2002‚ has developed deep antipathy and distrust towards corporations and their reporting practices‚ and casted doubts on the opinions of audit firms. As majority of these accounting frauds occurred in the US (See Appendix)‚ there was a widely-held view that rules-based accounting standards have allowed failure of large corporations like Enron and World Com‚ since US GAAP is perceived to
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Corporate Governance Issue [Writer’s Name] [Institute’s Name] [Date] Corporate Governance Issue Introduction The Purpose of the Case study is to assess the case of Enron mainly at the Corporate Governance problems. This Report will point out that why Independence of the Company’s Director is vital to clear operation of the organization; why successful Boards are compulsory for the companies to avoid the disasters like the Enron; and there must be the Working committee including the Non-Executive
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qualities mentioned in both excerpts regarding her position as a leader and as a woman. First‚ Hillary Clinton as a leader possesses a great number of qualities mentioned by Machiavelli‚ one of which is represented in her handling of the Whitewater scandal. Machiavelli gives and example of how it is important to‚ "in order
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