109 Search Results for Why There was No Accountability at Enron
Ethical Leader Analysis: EnronIntroductionEnron is the story of prideful, arrogant, greedy leadership. From CEOs Ken Lay and Jeff Skilling to CFO Andy Fastow, these leaders managed to turn a modest energy company into a financialized house of cards t 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...
Enron and Risk Management
Enron is one company that did not practice good risk management following its reinvention of itself as a financial/energy trading giant. This paper will describe what happened to Enron and show how its problems could have b Continue Reading...
Later in the year, this same task force, including Cheney, recommended Enron as a company that was upstanding and endorses its many proposals. This further complicated the Enron image giving it further clout to conduct business in an unethical manne Continue Reading...
Corporate Accountability
The corporate scandals of the last fifteen years have brought the issue of corporate accountability to new light, adopting at times a center-stage discussion. When the Bernie Madoff scandal broke, many professionals turned Continue Reading...
These blackouts were orchestrated as away to drive up the prices of energy. Tapes of conversations were released to the public and the employee's are on tape mocking the people of California after they were at the root cause of the problem for consu Continue Reading...
Dieselgate Case AnalysisWhat?The situation presented in the case study by Schuetz (2016) focuses on VW Group and the emissions scandal that occurred in 2015 just when the company was about to reach a significant milestone in its long-term development Continue Reading...
Unethical Practices at Enron
Enron was a company that imploded in the early 2000s after a public scandal involving its accounting books and organizational leaders. The unethical practices at Enron were essentially accounting fraud. LAX market regula Continue Reading...
American Corporate Fraud
This new century began with great expectations. However, just as the door of the 21st century opened, September 11th shocked the world and bruised the economy. Then, followed the bankruptcy and corporate scandals of some of Continue Reading...
Fracking and Ethics
Introduction
While “fracking”—the term applied to the practice of hydraulic fracturing of rock to gain access to the oil or gas underground—has been hailed as a revolutionary way for the oil industry to dra Continue Reading...
Private Security and the Law: International Use of Private Security in Support of U.S. Interests Abroad
Introduction
To support U.S. interests abroad more and more resources have been diverted to private security as American military have been scaled Continue Reading...
Senate of the United States Congress, three members have had a combined tenure of nearly a century: Senator Strom Thurmond from South Carolina, Senator Robert Byrd from West Virginia, and representing Massachusetts- Senator Edward Kennedy.
The form Continue Reading...
Financial Scandals and Management
Financial Management
Management Financial Actions, Controls, and Decisions
Financial Scandals and Management
Following the rise of financial scandals in the recent past, external and internal audits are carried o Continue Reading...
Corporate Governance: A review of Literature
What is Corporate Governance?
Principles of Corporate Governance
Theoretical foundations of corporate governance
Agency theory
Stewardship theory
Stakeholder theory
Post-Enron theories
Corporate Go Continue Reading...
The statute of limitation for the discovery of fraud is increased to two years from discovery date and five years following the act. Criminal penalties for securities fraud was increased to 25 years, by SOX.
Each public company's CEO and CFO must c Continue Reading...
Values and Morals in the Accounting Industry
The important questions to be addressed are taken from the "…business ethics/corporate social responsibility literature, oriented towards business enterprises but also of relevance to professional b Continue Reading...
Removing losses from the company's books made the main corporation look more attractive. Enron appeared to be operating at a profit; a key factor in the valuation of any company's stock. By virtue of this "success," Enron was able to raise even more Continue Reading...
An example of this can be seen with the Gray Matter Ethics Game at Lockheed Martin. This is a simulation that will take the employee through a host of ethical situations that they could be facing. Where, employees and managers will be able to learn Continue Reading...
Dishonesty in either could result in disaster for companies. Communication is the element that unites everything else. Employers should encourage employees to communicate either grievances or suggestions. This opportunity will result not only in bet Continue Reading...
Works Cited
Bardhan, P. (1997) "Corruption and Development: A Review of the Issues." Journal of Economic Literature 35: 1320-46.
Barro, R. (1996) "Determinants of Growth: A Cross-Country Empirical Study." NBER Working Paper No. 5698.
Barro, R., Continue Reading...
Labeling white collar crime is a mystery. A shared misapprehension of white collar crime is that, like pornography, it is hard to describe, however a lot of people would recognize it when they understood it. The only thing concerning white collar cr Continue Reading...
However the problem occurs when the person purchasing at the shampoo at supermarket becomes a reseller and offers it with a small discount to the elite buyer. This kind of price discrimination is common but it can become illegal if it violates the p Continue Reading...
A capitalistic society that provides open and free competition did not bring about Enron and similar debacles. It was the second part of Friedman's statement: "without deception or fraud" that led to such situations. It was the greed of several ind Continue Reading...
Steps were also taken to organize a stock market in Lahore (Burki, 1999, pp.127-128).
Also organized during this period were the Pakistan Industrial and Credit Investment Corporation (PICIC) and the Industrial Development Bank of Pakistan (IDBP), b Continue Reading...
The statement regulating accounting for stock-based compensations defines a fair value-based method of accounting for an employee stock option or similar equity instrument and encourages all entities to adopt that method of accounting for all of th Continue Reading...
Financial Accounting
Accounting Concepts
Financial Statements (Regulatory oversight)
The rapid failure and bankruptcy of Enron has prompted severe criticism of the nation's financial reporting and auditing systems, which are fundamental to maintai Continue Reading...
The enactment of the Sarbanes-Oxley Act has brought exponentially higher costs of operating to every organization that must comply to its requirements. As many organizations are already quite lean in terms of headcount to minimize costs, many outsou Continue Reading...
Employment Discrimination at Wal-Mart
Foundation of the Study
This study examines the legislative and judicial climate that enables corporations like Wal-Mart to engage in practices that violate workers' rights. The popular consensus is that Wal-Ma Continue Reading...
Hesitant to Pursue a Career in Business
Whom it May Concern
Re: Why I Am Hesitant to Pursue a Career in Business
In a tough economy, most people would probably take any job they can get after they graduate from college. However, as it comes close Continue Reading...
Having a code of conduct that is actively implemented must seem like the most visible way to regain that trust and reinstall a semblance of corporate ethical behavior. However, in the true spirit of inquiry, we should evaluate whether or not the gra Continue Reading...
Auditing
We are living in times of continuous change that thrives on information. Information is the cornerstone of the financial construct of organizations. Information and access thereto drives the success of organizations in present times. The w Continue Reading...
The Bank CEO's Role in Defining Ethical Integrity
Based on a thorough review of existing literature of the role of ethics in the banking industry, the role of the CEO as the ethical leader of their organization is next discussion. Based on the con Continue Reading...
This level of the maturity model is a transitory one and is focused more on either small, incremental gains from the first level, which is Reacting. In the Reacting layer of this proposed Branding Maturity Model, the majority of brand departments ha Continue Reading...
" The code also states when communicating investment information care must be taken to ensure that it is fair, accurate and complete as well as make full and fair disclosure of all matters that could reasonably be expected to impair their independenc Continue Reading...
Ethics
The employee is faced with ethical requirements throughout their workday that must be met with knowledge and a trained attitude. Workplace ethics is one of the most crucial elements whether the person involved in an ethical dilemma is a high- Continue Reading...
Zhang was employed as a qualified accountant in a small accounting practice. Following an investigation, the disciplinary committee of the professional body to which Sam belonged found that he provided misleading sets of financial statements at the Continue Reading...
For example, Shu-Acquaye (2007) cites the basic differences in the legal systems in various parts of the world as contributing to the different approaches to corporate governance. Likewise, Shu-Acquaye cites these differences and adds, "The American Continue Reading...
Electricity Restructuring
Restructuring of the electricity industry has been approached with a top-down approach that has failed to result in benefits to consumers. Economic theory states guidance on conditions that are essential for well-functionin Continue Reading...
Labor Ethics
Labor and Ethics
The concept of ethics in both business and labor is one rife with contradiction. Especially today, where the public has come also to expect a degree of dishonesty, corruption and exploitation at the hands of corporate Continue Reading...