Worldcom was the second largest long distance phone company in the United States. The former CEO Bernard Ebbers was sentenced to twenty five years in prison due to increasing revenue the wrong way to increase earnings. This company had the largest bankruptcy filing in the United States. Today‚ the Worldcom accounting scandal is known as one of the worst corporate white collar crimes in history. What were some psychological factors that led to this crime? Financial Pressures from competitors
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Question 1 At the time Cynthia Cooper discovered the accounting fraud‚ WorldCom did not have a whistle-blower hotline process in place. Instead‚ Cynthia took on significant risks when she stepped over Scott Sullivan’s head and notified the audit committee chairman of her findings. Discuss the key criteria for the operation of an effective corporate whistle-blower hotline. Be sure to highlight potential pitfalls that should be avoided and reference professional codes‚ legislation and academic
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bulacan state university college of nursing Mary josephine v. hernandez Bsn2a bioethics THE MORAL ISSUES OF PATERNALISM AND TRUTH TELLING Paternalism Paternalism can be defined as interfering with a person’s freedom for his or her own good. The word calls to mind the image of a father who makes decisions for his children rather than letting them make their own decisions‚ on the grounds that "father knows best." The principle of paternalism underlies a wide range of laws‚ practices
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The moral issue in question in this scenario is whether or not medication should be prescribed for someone struggling with a break up so much that it is affecting their daily life. If I was the psychiatrist in this scenario I would prescribe the drug under the condition I still see the patient for regular talk sessions. I made this decision based on the major health factors involved‚ this person not sleeping or eating are signs of a deep depression that anti depressants may only slightly mask. I
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Case Study The Rise and Fall of WorldcomThis case study is about Bernard Ebbers CEO of Worldcom‚ Inc. and Scott Sullivan CFO of Worldcom‚ Inc. once they were boosted the company growth and they got awards. Later on they made frauds by using their influential tactics on employees and company’s board. Those are Assertiveness: it involves applying legitimate and coercive power to influence others by threatening or giving punishment. This tactic was used by sullivans office where they berated and intimidated
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Moral and Ethical Issues in Gene Therapy Introduction Genetic research has advanced in a dramatic fashion in the last decade or so‚ to the point where it has now become possible to attempt therapeutic genetic modification‚ in a few cases of human genes‚ where a defects exists which manifests itself in certain serious diseases. This possibility‚ known as gene therapy‚ is only in its infancy. At present‚ no one knows how effective it will prove to be‚ even in the few conditions on which it is being
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Enron and WorldCom Case Study This report is based on the demise of Enron Corporation and WorldCom. Both the firms are demised due to the ethical lapses. These ethical lapses come into existence when managements of the firm‚ uses unethical practices to accomplish the goals of the firm. Maintaining financial and accounting standards in the business practices are necessary. The profession of accounting has become a mockery due to the accounting scandals that took place all over the world in the
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Vernita M. Blacksher Introduction: We will be evaluating the planning function of the upper level management of the Company formerly called WorldCom. We will look at some of the actions taken by upper level management‚ their decision making and what actions were taken to achieve short-term goals. We will be analyzing the influence legal issues‚ corporate social responsibility‚ and ethics had on WorldCom’s management planning. Also we will be look at what factors influenced the company’s
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Wk2 Assignment: The Enron and WorldCom Scandals Student Name ACC/260 Date Instructors Name[Page Break] 1. Which segment of its operations got Enron into difficulties? The guaranteed loans that were intended to bridge the financing for investments from outside investors that could not be found would be the segment of operations that caused Enron difficulties. 2. Did Enron’s directors understand how profits were being made in this segment
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and the tactics and behaviors that would ultimately lead to the downfall and closure of the company. One of the most famous was Enron‚ but another well known failure was that of WorldCom. WorldCom was a big player in the telecommunications industry‚ being the largest telecom carrier of Internet traffic. In 2002‚ WorldCom joined the ranks of failed companies mostly because of the tactics that management and its accountants used to show that the company was earning more money than it was. This was
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