The CEO of ENRON attempted to give a rosy picture of the company financial position to protect his own investment in company shares. As a part of internal control, the accounting function and actual physical stocks should not be managed by the same Continue Reading...
Internal Control The Importance of Internal Control Programs An effective internal control program in an organization ensures the efficiency of its operations and helps a business to attain its objectives by minimizing the chances of violation of r Continue Reading...
Failure of Cable Stayed Bridge Factors Leading to Failure of Cable Stayed Bridges When there is failure experienced in a single structural element, there is high probability that the failure could lead to future failures of bigger intensity, includ Continue Reading...
The epoxy supplier knew full well that his brand wasn't good for the long haul and assumed the construction bosses knew that too -- but they did not know that. So, the bottom line is that the I-35W bridge "apparently lacked the kind of redundancy p Continue Reading...
Lehman Brothers, once a global financial behemoth, collapsed in 2008, triggering a severe financial crisis. The company's downfall was largely attributed to poor leadership and decision-making (Egan, 2009). Richard Fuld: The Imperious CEO Richa Continue Reading...
Failure in Business Ventures Entrepreneurs, firms' success, and failure factors are a subject of extensive research over many years. It is necessary for entrepreneurs and organizations to understand both the internal and external motivational facto Continue Reading...
There are ten Fraud Detection Centers across the United States, and these are meant to detect refund fraud and to identify prevention measures. Each of these offices has a Resident Agent in Charge to direct, monitor, and coordinate operations suppo Continue Reading...
Program Management Projects Compared - Belbin analysis In order to find a way through which the success of teams could be predicted Dr. Meredith Belbin, a management psychologists, worked in collaboration with Henley Management College in the earl Continue Reading...
shadow banking system, its role in the subprime mortgage crisis, and failures of regulation within the shadow banking system. The term "shadow banking system" was coined by PIMCO's Paul McCulley in 2007 (Spanos, 2012) and refers to a banking system Continue Reading...
International Politics Political Leaders In Latin America: Hugo Chavez And Lula Who is Hugo Chavez and Lula Hugo Chavez was born on 28 July 1954 in Sabaneta, Venezuela. Chavez attended Venezuelan military academy and took up service as an army off Continue Reading...
DELL INC. FRAUD Business practices came under fire when America's seventh largest firm Enron collapsed due to unethical accounting strategies. This case triggered a series of unwelcome events where one after the other, large organizations in the U.S Continue Reading...
Corporate Governance in Harris Scarfe: Harris Scarfe Department Stores is a company that was founded in 1849 in Adelaide, South Australia and housed various major South Australian department stores. The history of the organization is traced to a per Continue Reading...
Hence, the likelihood of having to repurchase a large amount of repurchases would result. This was increasingly risky as the company spiralled into much lower reserves than it would admit publicly. The increasing risks were recognized by New Century Continue Reading...
Independence of Auditors The objective of this study is to consider the statement as follows: "Unquestionably, the HIH story is also one of auditor failure" and to research into the background of the HIH collapse in Australia insofar as it relates t Continue Reading...
Enron Corporation was the American company that specialized in supplying of energy. Prior to its collapse in 2001, Enron was one of the most admired companies in the United States recording superior profits year by year, however, in 2001, series of Continue Reading...
Continental Illinois National Bank and Trust Company Continental Illinois National Bank "Too Big to Fail" The purpose of this work is to show whether or not Continental Illinois rescue and restructuring successful and if so why it was successful. Continue Reading...
Sarbanes-Oxley Act of 2002 administration as also a majority of other western administration witnessed the collapse of corporate giants like Enron & Worldcom in the aftermath of noticeably fraudulent executive actions of these companies. This l Continue Reading...
roles of forensic accountants in preventing and detecting fraud within a business community. The paper highlights the requisites and basic responsibilities of a forensic accountant. The paper also makes references on the special cases where forensic Continue Reading...
This strategy was successful for some time but when WorldCom tried to acquire MCI (a company with two times more revenues than WorldCom), the binge of acquisitions was ended due to objections from antitrust and other stakeholders. WorldCom's strate Continue Reading...
Anderson, RW & Chantal K. 1998, Transition banking: financial development of central and eastern Europe, Clarendon Press, Oxford. Barley, S 1983, Semiotics and the study of occupational and organizational cultures, Administrative Science Quarter Continue Reading...
One other new thing brought to the attention of companies by the Sarbanes-Oxley Act is the fact that, under this law, every public company is supposed to prove strong internal systems designed to catch an employee intending to commit fraud or flag Continue Reading...
ZZZZ Best Recent Developments in the Barry Minnow Case: Ongoing Implications and Lessons of the ZZZ Best Company This article outlines three different past cases of significant accounting issues that led to collapses of various levels, from single Continue Reading...
Enron could engage in their derivative trading strategy with no fear of government intervention because derivative trading was specifically exempted from government regulation. Due in part to a ruling by the Commodity Futures Trading Commission' Continue Reading...
It should not be treated as a separate exercise undertaken to meet regulatory requirements." (ICA, 29) Here is expressed a philosophical impetus that drives the focus of this research, that such compliance which will generally concern matters such a Continue Reading...
(Millstein, 2005) Since United States and Australia are countries which are already considered to be globally competitive that has attained its almost perfect status in the world market, developing countries are basically taking into account every Continue Reading...
Audit Quality and Agency Theory Auditors have existed since the 1300's and for most of that time, their role remained the same. Auditors were the life-line of governments and businesses, helping establishments maximize profit and efficiency, the ben Continue Reading...
Although Rotberg states that elections are not first priority but constitutions and elections to encourage democracy are very important. It is more important according to Rotberg that strength is given to nation states prior to failure as it is much Continue Reading...
THE PEOPLE BEHIND THE RISE AND FALL OF ENRON Kenneth Lay being one of the pioneers of Enron from its establishment in 1986, had lead the way of Enron's emergence as one of the leading company in the U.S. And eventually to its collapse and declarat Continue Reading...
Police Reform in Post-Authoritarian Brazil A majority of new democracies entail an unbelievable illogicality of an immensely feeble citizenship coalesced with a stern description of the constitutional guarantees. In order to explicate this disparity Continue Reading...
Quality and Reliability in Financial Reporting Publicly-traded companies have an obligation to provide accurate and reliable financial statements to current and potential investors. Investors and others users of financial statements depend on this in Continue Reading...
In the company it has ushered in a better accounting and the management with upgrades in technology and competence, there will be a requirement for training and upgrading managers and staff to meet the contingencies of the proposed systems and contr Continue Reading...
Audit Quality and Agency Cost Since the advent of industrialization, there has been the presence of a bond between the people who invest and the people who manage those investments, forming a vital relationship amongst the two groups. Although with Continue Reading...
Lufthansa Structure and Governance. Performance and Competition. Five-force analysis. Lufthansa is one of the oldest and most successful commercial airlines in the world, and is the fourth-largest in terms of passengers. However, the company has Continue Reading...
economic crisis in Europe and the increasing costs for European countries to borrow money and bail out other Euro countries in financial distress. The EU nations that use the Euro have experienced a crisis among certain countries with high debt requ Continue Reading...
Relapse prevention therapy breaks down the chemical dependency recovery process into specific tasks and skills, which patients must learn in order to recover; it also shows patients how to recognize when they are beginning to relapse, and how to chan Continue Reading...
While much of the Empire's expansion can be attributed to military success invasion was often unnecessary. Political tactics for expansion were sometimes more effective; Sultan Orhan received the Gallipoli peninsula through his marriage to the daug Continue Reading...
2011). Following the guidelines and supporting research provided in this article can help large enterprises avoid such pitfalls (Newman et al. 2011). An article that recently appeared in the Sloan Management Review examines the internal rather than Continue Reading...
