can be very easily become a disaster in wake of commonsense decisions gone wrong. This research paper is based on decisions being made in unethically manners that in the long run caused three of the largest corporate scandals of Enron‚ Tyco‚ and WorldCom. Before filing for bankruptcy in 2001‚ Enron Corporation was one of the largest integrated natural gas and electricity companies in the world. It marketed natural gas liquids worldwide and operated one of the largest natural gas transmission systems
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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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into the ground and then you would tie the muka to each stick. Then you would weave in the patterns and animal feathers. Now a days korowai are displayed at museums or they are worn by students on there graduation day. Each and every korowai has a background story to it. Whether it be about the chief who wore it or the tribe itself. At first Maori women used the Pandanus plant for weaving baskets and clothes. Then they discovered flax‚ and found that the flax fibers where much stronger and more
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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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Accounting Fraud at WorldCom 1) What are the pressures that lead executives and managers to “cook the books?” After the rapid evolution of the telecommunication industry in the 1990s‚ WorldCom shifted its strategy to focus on building revenues and acquiring capacity sufficient to handle expected growth. Their biggest goal was to be the No. 1 stock on Wall Street rather than capturing the market share. As a result‚ their Expense-to-Revenue (E/R) Ratio was their measurement for their main objective
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1.0 Background of NasionCom Holdings Berhad NasionCom Holdings Berhad (NHB) is an investment holding company. The company is organized into two main business segments: Telecommunication and multimedia services segment‚ which is engaged in the provision of voice and data services broadband Internet access and related services‚ and Wholesale services segment‚ which is involved in wholesale of telecommunication prepaid cards. The company was formerly known as High-Tech Electronics Sdn Bhd. Other operations
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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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Background of the Study Much about spelling is puzzling. Our society expects that any educated person can spell‚ yet literate adults commonly characterize themselves as poor spellers and make spelling mistakes. Many children have trouble spelling‚ but we do not know how many‚ or in relation to what standard because state accountability assessments seldom include a direct measure of spelling competence. Few state standards specify what‚ exactly‚ a student at each grade level should be able
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Background The Marine Turtle Sanctuary is a 2-kilometer stretch of white sand peninsula of Punta Dumalag in Matina Aplaya‚ Davao City where endangered Hawksbill turtles (Pawikan) have safely found their home and sanctuary. Also known as the Pawikan Sanctuary‚ the site is part of the 37-hectare Marine Protected Area (MPA) that was established through Council Resolution No. 02504-03 declaring the area as a nesting ground for Hawksbill Turtles. The local government of Davao City created the Marine
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What punishment‚ if any‚ do you believe David Myers should have been given for his role in the WorldCom fraud? A2. Mr. Myers was charged with securities fraud‚ conspiracy to commit securities fraud‚ and filing false statements. Based on these charges‚ I think Mr. Myers would be sentenced to 5-8 years prison terms. In addition‚ he would be imposed with a large amount of fine. Furthermore‚ the WorldCom would take a certain amount of bonus back for the period while he was being investigated. However
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