RECENT CORPORATE SCANDALS IN MALAYSIA Air-freight firm Transmile Group Berhad hit the business news headline for the wrong reason in 2007. The share price suffered turbulence when it was revealed that auditors of Deloitte & Touche were unable to substantiate the accounts of year 2006. The fraud was discovered after a special audit conducted by Moores Rowland Risk Management Sdn. Bhd.‚ stating that the company has been overstating its revenue between the periods of 2005-2007 to reduce the net loss
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Case: The Bribery Scandal at Siemens AG 1. There is no question that ’bribing’ is unethical and illegal. However‚ nowadays there are a lot of developing countries in which corruption and bribing is a common practice and large companies that are targeted to expand to those countries’ markets have no other option but to pay government officials or other demanding individuals. In the Siemens case which involves bribing for contracts it is partially understandable if the company’s convicted managers
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lost trust in the papers since the scandal. * TV and Radio have benefitted from the lack of trust in newspapers. * Leveson inquiry is likely to lead to much tighter regulation‚ with potential new legislation to enforce stricter controls in the long run. Implications – The Government * Government involvement with the press heavily scrutinised‚ particularly Andy Coulson and Jeremy Hunt. * David Cameron were required to handle the phone hacking scandal and thus commissioned Lord Justice
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Watergate Scandal. President Nixon and his committee took an aggressive approach to their campaign. During his final months before the reelection was to take place‚ he felt threatened by the opposing democratic party. Richard Nixon and his committee came up with a scheme to cheat their way to winning the election. This scandal goes to show that people will lie and cheat to get what they want‚ no matter how honest they claim to be or have been in the past. There is no doubt that this scandal is true
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Adelphia Communications Corporation Scandal Unethical Business Practices Research Assignment Abstract Historically‚ ethical values‚ relating to professional business practice‚ continually raises controversy for business owners/founders‚ shareholders and consumers. Ethical standards perpetually change because personal and societal values evolve‚ and adapt accordingly to modern day lifestyle. It is as essential to adhere to your profession’s ethics‚ as it is to denounce questionable
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the most trending is the 2016 presidential election. Being dubbed “insane” with the many claims and events by the candidates‚ there are a select few topics that are definitely deemed to be “controversial” in conversation. One topic being the email scandal on Hillary Clinton’s part. Losing thousands upon thousands of emails may seem like a harmless mistake‚ however‚ those emails were suspected to hold classified information that was never meant to reach anyone on the outside. On top of that‚ all of
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In 1985‚ President Ronald Regan and his administration began what is now known Iran-Contra Scandal. This scandal dealt with the United States selling weapons to Iran‚ via Israel‚ to attempt to help free Americans hostage held in Lebanon. They then used the money made from these sales to finance guerilla fighters in Nicaragua‚ who were fighting against their communist government. President Regan may have felt that he and his administration were doing the greater good in the fight against communism
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questionable acts by traders and executives. Deep debt and surfacing information about hiding losses gave the company big problems and in the late 2001 Enron declared bankruptcy under Chapter 11 of the United States Bankruptcy Code. 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
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1919 Scandal Deflategate‚ the Russians using steroids‚ and Thomas Voeckler using a hidden engine while cycling‚ are all sports scandals that may be see in the news today‚ but in all reality infamous sports scandals date way back. Indeed‚ the 1919 World Series is one of the most iconic‚ when eight members of the Chicago White Sox were bribed to throw the game by many high ranking gamblers. The players were sent to court‚ and tried for their crimes‚ and sewed punishments. The players caused many new
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On the morning of June 17th‚ 1972‚ burglars charged with attempted robbery and attempting to bug phone lines were arrested in the offices of the Democratic National Committee. This robbery began one of the most infamous scandals‚ later to be named “The Watergate Scandal”‚ in American history‚ and put the president himself under the microscope of the law. The Supreme Court tried the case against President Nixon and his seven aides who helped him cover up the conspiracy. After Nixon’s refusal to give
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