tragedy. Well‚ it’s happened again. People are at loggerheads over who is to blame. The Capulets? The Montagues? Or one of those small characters in-between? On internet forums and online discussion sites there’s numerous Baz Lurhmann fans clamouring to add their opinion. Admittedly‚ they’re quite well done. Of course‚ you have the odd drongo who couldn’t be bothered to give the matter any thought: Shakespeare’s fault‚ he wrote the play in the first place *smiley face*. But quite often you’ll
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Mr. Red Feliciano Enron Corporation’s Case Analysis Reference: Auditing and Assurance Principles by Jose Ireneo‚ Shirley Ireneo and George James 1. A. Fastow is one of the most responsible because being the Chief Financial Officer or CFO of the Enron corporation‚ he had a major influence. He was guilty of fraud‚ money laundering‚ inside trading‚ and conspiracy‚ among other crimes. Due to his acts such as misleading Enrons board of directors and audit committee on
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1. What did Arthur Andersen contribute to the Enron disaster? Arthur Andersen (AA) contributed to the Enron disaster when AA consulting became its own separate entity‚ named Accenture. Revenues from consulting services surpassed revenue from auditing services. A natural competitiveness grew between the two rivals and this is where the problems began to start. Management held maximinizing revenues as their primary focus of success and promotions/bonuses were based on this factor. The CEO of AA‚ Joe
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CASE STUDY. my personal point of view.. 3. IF ALL PUBLICLY TRADED FIRMS ARE OPERATING WITHIN THE SAME BASIC CORPORATE GOVERNANCE SYSTEM AS "ENRON"‚ WHY WOULD SOME PEOPLE BELIEVE THIS WAS AN ISOLATED INCIDENT‚ AND NOT AN EXAMPLE OF MANY FAILURES TO COME? The answer to this question lies within the minds of the Enron Managers rather than with the business environment. Most likely‚ these managers are well-educated and may have come from rich families. If this is so‚ then the logical thing
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Fault Under the English law individual liability is based liability on the concept of blameworthiness. The oxford English dictionary defines fault as ‘responsibly or blame for an offence or misdeed’ it is not considered appropriate to subject someone to civil or criminal sanctions unless it can be proved that he or she performed on illegal at in a blameworthy manner. Blame does not normally attach in civil law if the injury occurs accidently or in criminal law or the crime occurs through in honest
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Parmalat It has been named as “Europe’s Enron” – the legend that took down Italy’s milk selling company Parmalat and its controlling executives‚ American banks‚ audit firms‚ even politicians and 130‚000 of its helpless small shareholders after the discovery in the year 2003 of the $14 Billion black hole in the company’s finances. The company’s fraud was uncovered when the company failed to pay the cash to the bondholders. Summary: This discovery led to eight years of court cases in Europe
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1. Describe the situation at Lehman Brothers from an ethics perspective. What’s your opinion of what happened here? To attribute Lehman’s failure to “unprecedented adverse events in the financial markets” completely overlooks the irresponsible ethical behavior of employees and managers. Students should mention the culture of corruption that existed at Lehman’s and the lack of controls that ultimately resulted in their downfall. An interesting finding was the acceptance of a rule‚ Repo 105‚ that
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Most of this terrane are known as groups of rocks that are surrounded by faults‚ different types of fossils‚ and other types of physical properties. Due to the Pacific Plate subducting beneath the North American plate‚ it creates the Denali fault system. Denali consists of a right lateral strike-slip fault over 720 miles long (Sharpe). This strike-slip fault is a part of the larger fault system which includes the San Andreas Fault system in
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System Fault Analysis 2.0 Introduction The fault analysis of a power system is required in order to provide information for the selection of switchgear‚ setting of relays and stability of system operation. A power system is not static but changes during operation (switching on or off of generators and transmission lines) and during planning (addition of generators and transmission lines). Thus fault studies need to be routinely performed by utility engineers (such as in the TNB). Faults usually
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The Hayward fault Our first stop was at founder’s rock. The founders’ rock is a huge rock close to the foothill dormitory and it’s where the founding fathers of Berkeley decided to build the university. They decided to build the university here because of their agriculture. Berkeley‚ has a creek running‚ to be more precise‚ Berkeley had various creeks running. Therefore‚ water is easily accessible‚ so they decided to build the university to have easy access of water and great soil. However‚ what
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