CORPORATE ACCOUNTING SCANDAL AT SATYAM COMPUTER SERVICES LIMITED BACKGROUND Ironically‚ Satyam means “truth” in the ancient Indian language “Sanskrit” (Basilico et al.‚ 2012). Satyam won the “Golden Peacock Award” for the best-governed company in 2007 and in 2009. From being India’s IT “crown jewel” and the country’s “fourth largest” company with high- profile customers‚ the outsourcing firm Satyam Computers has become embroiled in the nation’s biggest corporate scam in living memory (Ahmad
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in the midst of the situation. People are often quick to judge others and label people who do not respond as “bad people.” However‚ there are other situations to consider. The Penn State University scandal‚ for example‚ hid the horrendous
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AIG Accounting Scandal Contents 1.0 Introduction ………………………………………………. 2 1.1 Overview of AIG …………………………………….. 2 2.0 Scandal Methodology Used by the Company………… 3 2.1 Accounting Practices Errors ……………………….. 3 3.1 Ways to Hide Accounting Improprieties ………………. 4 4.1 Who the scandal effected ………………………………. 7 5.1 Recommendations ………………………………………. 8 6.1 Conclusions ………………………………………………. 9 7.1 References ………………………………………………. 10
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Enron and WorldCom Scandals Matthew Morrison ACC/260 8/18/12 Enron and WorldCom Scandals Question number one of the Enron case focuses on the corporations that got Enron into its difficulties these were the special purpose entities for joint partnerships including Chewco‚ LJM1‚ LMJ2 and the Raptors. Number three of the Enron case shows us that the board was divided into five divisions‚ all of which were full of well-educated financial employees who
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the scandal was one of Americas largest accounting investigations into a firms illegal accounting practices and their attempt to conceal it from the shareholders and credit lenders. Divulging themselves into the scandal and solving the problems at hand are several organizations such as: United States Congress‚ US Department of Justice‚ IRS‚ Securities and Exchange Commission‚ and the United States Penal System. Each organization is handling a different approach to unfolding the scandal. The
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What Went Wrong: Case Study of a Selected Corporate Scandal “In Texas‚ Robert Allen Stanford appeared to be yet another flamboyant billionaire. But in the breezy Caribbean money haven of Antigua‚ he was lord of an influential financial fief‚ decorated with a knighthood‚ courted by government officials and basking in the spotlight of sports and charity events on which he generously showered his fortune.” This quote from an article in The New York Times portrays the life of Mr. Stanford‚ owner of
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Duke Lacrosse scandal‚ which decimated a top collegiate athletic program and cast a negative shadow over one of the top academic universities. Duke University had one of the top men’s lacrosse programs in the county‚ which had won numerous national championships. Unfortunately‚ the decisions and actions of some of the team members threatened to destroy the reputation of the lacrosse program and the entire university. The media and society have developed a large appetite for scandal that is still
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the first things that Ford did when he became president was to pardon Nixon. His decision caused a lot of controversy across the American public‚ but he claimed that he needed to pardon Nixon in order for the nation to move on from the Watergate Scandal as quickly as possible. President Ford faced a variety of problems throughout the remaining two years of his presidency. He faced the continued effects of OPEC’s decision as well as high rates of unemployment. He tried to get Congress to allow him
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pressure and a lack of internal control‚ AIG have committed frauds resulting in several scandals. One of the accounting scandals was disclosed during 2005 which involved a material mis-statement due to false transactions during 2000. This scandal set to prelude leading the downfall of AIG in 2008. In this paper‚ I will analyze the cause‚ the transactions and finally effects of the scandal. The Accounting Scandal The Players The CEO of AIG was Maurice “Hank” Greenberg. Greenberg joined AIG in 1962
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Literary Analysis “A scandal in Bohemia” At the beginning of this story‚ Victorian readers learned that there was only one woman cold-hearted Sherlock Holmes esteemed. That one was Irene Adler. She was an opera singer‚ and therefore presumed to be a woman of easy virtue‚ but this presumed stain on her character did not taint his admiration. When the story begins‚ she has had an affair with the King of Bohemia‚ who now wishes to make a dynastic marriage‚ a union which will further the aims of his
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