...Memorandum To: Accounting Manager From: Marisol Covena Date: September 10, 2012 Subject: LGA Entertainment CFO Resignation As part as the suddenly resignation of our CFO, Alberto Lizarraga, our company has the obligation to deal frankly, comprehensively, and immediately with any material information. The Securities and Exchange Commission (SEC) has a list of disclosures requirements, which attempted to protect the public from abuses in the issuance and sale of securities. SEC have requested our company for certain documentation due to an apparently concern of the revenue recognition. The SEC has challenged corporations and public relations firms on the accuracy of information they disseminate for clients. The SEC in 2000 adopted regulation FD, or “Fair Disclosure”. Basically, regulation FD requires companies to widely disseminate any material announcement. It is imperative to disclosure the information rather than withholding it. According with Seitel (2011) the most effective crisis communicators are those who provide prompt, frank, and full information to the media in the eye of the storm. If we communicate our situation to our stakeholders, we are going to stop rumors and they will be calmed. Our goal is to terminate the crisis quickly, limit the damage and restore credibility. It may take quick remedial action however it will be well worth. Our company needs to proceed with ethics, in others words, “doing the right thing” calming external stakeholders regarding...
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...Abstract ABC Technologies is experiencing a financial crisis. John P Notepad, chief financial officer (CFO), has suddenly resigned and no one is discussing the reasons. ABC Technologies has received notification that the U.S. Securities and Exchange Commission (SEC) are investigating ABC Technologies’ company’s accounting practices and, from the documents they have requested, the issue seems to concern revenue recognition. Companywide and Industry wide rumors are circulating suggesting inappropriate behavior by ABC Technologies. ABC Technologies is a publicly traded company and, as such, my company is required to issue a public notice concerning the sudden vacancy of the CFO. As the staff CPA on the finance team drafting the notice, it is critical to properly communicate the current situation to the general public. • Item #1: a press release. • Item #2: an internal memo o Legal Requirements. o Public Communication Value. o Balance of calming stakeholders and ethical reporting to SEC. In conclusion, brief explanations of public perception from the press release. Resignation & Investigation Monday, December 16, 2011, Mark Chief, CEO of ABC Technologies enters my office and closes the door. It turns out that ABC Technologies is under investigation for inappropriate accounting practices, and unfortunately the CFO, John P Notepad, left without notice. ABC Technologies is in a damage control position, and needs to act fast. Below is an immediate press release...
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...VII of the Civil Rights Act of 1964, it is important to understand the legal concept, “Constructive Discharge”, as it is extremely relevant to the employee’s claim. Constructive discharge is when an employee resigns from a job, claiming that the employer has made it impossible for the employee to continue working for the company. Because the resignation is not truly voluntary, it is considered termination or firing. In order to establish a constructive discharge claim, the employee must show reasonable evidence that the discharge occurred, also known as “prima facie”. To show prima facie, the plaintiff must show the following factors occurred: 1. The employee resigned directly because of a change in working condition or policy implemented by the employer (Niznik, 2012). 2. There was a “cause and effect” relationship between the resignation and the change in working condition or policy; both must have occurred within reasonable time of each other (Niznik ,2012). 3. Any reasonable employee would resign under the same circumstances because the change in policy or working condition was unbearable (Niznik ,2012). 4. The resignation was predictable – the employer intentionally implemented the change, knowing any reasonable would quit (Niznik ,2012). Although the employee can prove factors #1 & 2 occurred, it would be extremely difficult for the employee to prove that any other “reasonable” employee would resign because of the new policy (#3). Additionally, the company...
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...rotation. When the new schedule was announced, Mr. Tibbet resigned his position in the production group. He has filed a claim of constructive discharge with the Equal Employment Opportunity Commission (EEOC) which alleges that Zippeedoo Toy Company required practices which conflicted with his religious beliefs, forcing him to leave the company. Constructive discharge is an illegal and discriminatory practice that forces an employee to resign employment due to intolerable working conditions. In order to meet the criteria of a constructive discharge, Mr. Tibbet must prove that his resignation occurred a) due to conditions that any reasonable person would have found unbearable, and b) that the Zippeedoo Toy Company was aware that the schedule change would have a serious impact on Mr. Tibbet, but did nothing to remedy the situation (Zilmer v. Carnation Company, 1989), thus forcing his resignation. B. Title VII Title VII of the Civil Rights Act of 1964 protects employees from discrimination based on race, color, religion, sex, or...
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... est, October 4, 2010 For Immediate release: Booker Inc’s Chief Financial Officer Resigns October 4, 2010- Booker Inc. today announced the resignation of its Chief Financial Officer, Ed Wirth. Wirth presented his resignation to the Chief Executive Officer of Booker Inc, Hobert Hartley Booker III this morning around 10 am eastern standard time. Mr. Wirth’s resignation will go into effect immediately following this release. Mr. Wirth did not provide a statement of explanation in regards to his sudden decision to resign. Booker Inc.’s Chief Executive Officer said: “The resignation of Ed was unexpected because he has been a valuable member of our top management team inside Booker Inc. for many years. We will regret losing Ed and wish him the best on his future endeavors.” Mr. Wirth has been Chief Financial Officer with Booker Inc. from the opening of their doors on March 22, 1983. He came into the company shortly after receiving his MBA from Harvard University in Cambridge, MA. Wirth has contributed to the financial success of the company for over 25 years. The appointment of Chief Officer at Booker Inc. is a matter that has to be approved by the Board of Directors before a replacement can be selected. Booker Inc stated that they have “serious concerns regarding the timeliness of Wirth’s resignation” and have put together a special committee to investigate whether there was any misconduct in regards to the financial status of the organization. The...
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...policies on maternity leave, paternity leave, adoption leave, career break and special leave. Notification of intention to leave or resign If you wish to leave the OFT, whether permanently or otherwise, you must provide written notice to your staff manager. This is not intended to replace any initial verbal notification, but it is required to confirm the decision. If you are resigning from your employment you must give at least the amount of contractual notice required by your contract of employment (one month for staff up to and including SEO, three months for staff at Grade 7 and above). There is, of course, no obligation for you to state the reasons for your resignation, although it may be in your own interests, and those of the OFT, for you to do to so. Your staff manager must forward a copy of the letter of resignation to the HR support centre, together with the completed leaver notification form, to ensure commencement of leaver processes. In the event that a shorter notice period is agreed your staff manager must inform the HR support centre by telephone with subsequent written confirmation within 2 working days. HRSC will then ensure that any...
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...Recently Mr. Bob Jones filed a claim after our production schedule changed to rotating 12-hour shifts with four days on and four days off. He states this violates his religious beliefs of not working on Sunday. His resignation may eventually be construed as constructive discharge and may require attention as once. Due to the claim Bob Jones filed, we need to understand how constructive discharge is relevant. In Mourad v. Automobile Club Ins Ass’n, constructive discharge is the act of making working conditions intolerable forcing an employee to resign. Mr. Jones was unable to work on Sundays for the new rotation of production employees and resigned. Covered under Title VII of the Civil Rights Act of 1964, adverse impact would also be relevant in this situation by applying the same standard to all employees while only affecting one class negatively (Gomez-Mejia, 2010), in this case, religion. Mr. Jones could not work on Sunday due to his religious beliefs. This, in turn, will be seen as an act of forcing an employee to make a decision based on his/her religious beliefs. In the case of Turner v. Anheuser-Bush, Inc., the employee actually quit, but the constructive discharge was actually viewed as termination. Also, in the case of Valdez v. City of Los Angeles, “whether conditions were so intolerable as to justify a reasonable employee’s decision to resign is normally a question of fact.” We do not want the court to believe we forced Mr. Jones to resign due to religion...
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...Soren Kierkegaard’s philosophy on the three movements to faith establishes itself as a recurring and major theme throughout the movie, “Breaking the Waves”. Without the knowledge of Kierkegaard’s philosophy, the average viewer would most likely miss the significance and understanding of what truly goes on. The underlying philosophy shines light on particular instances, which generates a better understanding of each character’s individual decision-making. In order to understand the movie in its entirety, one must first attempt to understand Kierkegaard’s three movements to faith. The first movement to faith is a commitment or appropriation to a singular wish. In this stage, a person loves someone to the point where they always want to be around that one person no matter what the circumstances are. The person wishes and prays in every case that no matter what happens, they can still be physically and finitely connected to that person in each other’s lifetime. In the case of the movie, the audience is shown the main character named Bess, whose singular wish to God is to fall mutually in love with a man. After she marries this man, she wants nothing else but to always be in direct contact with her husband, Jan. The audience is shown this with a scene in the movie that depicts Bess screaming and running up to Jan just before he is about to board the helicopter to return back to work. She never wanted to let him go and she explains this to God in multiple conversations....
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...CASE: THE BROKEN EMPLYMENT CONTRACTION OVERVIEW: The case be form of EcoCare, a large health insurance company located in Michigan. The company hired Arthur Wayne five years ago as an Assistant to Treasurer by interviewing with Sara Bell, Ecocare’s Treasurer. Then Wayne was asked to “immediately resign” because of “continued personality conflicts;” in addition, when he had meeting with Bell and Vice President, George Findlay, Wayne was not able to provide the solid answer. After Wayne’s termination, he requested a review by the President, and Chairperson. He believed he was wrongfully discharged for some reasons: one reason, he believed he had an employment contract, and other he believed his supervisor did not follow the policy and procedures of EcoCare. Therefore, the President asked Human Resource Director, Chris Miller to investigate the facts of condition and the incidents which led up to Arthur Wayne’s termination. This case is principally beneficial in discussing about employee rights and discipline. ANALYSIS/ DISCUSSION: The main issue in the case is Wayne’s termination which he believed that the company was not fair based on the company’s policy and procedures. In fact, he recalled about his conversation with Bell when his first interview. After Wayne’ requested the President and Chairperson to inspect the termination, so the President assigned Miller to investigate the case again. According to investigation of employment contact, Arthur Wayne believed that he...
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...responsibility and ethics in Washington. The office of Congressional ethics opened an investigation into Schocks spending practices on Feb. 28, 2015. They begin to contact people in Schock orbit. The panel does not have subpoena. The office of Congressional typically precedes a formal investigation by the House of Ethics Committee. Once Schock leave Congress the investigation will stop, but Department of Justice or the Federal Election Commission could open inquiries of their own. Rep. Schock had appeared to be prepared to hire high powered legal team that included a former Federal Election Commission Chairman Don McGaha. When he resigns it came as a surprise on the hill. He did not make anyone aware of his resignation before he left. The party leadership avoided calling his resignation, he did get a primary challenger in the form of conservative Peoria III lawyer mark Zalcman. While Schock...
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...I. Problem statement What should Mr. M. Lacdao do with Sylvia Gregorio’s offer of resignation as analyst of Center for Energy Research and Development’s Solar section brought about by absence of organizational value system? II. Objectives: 1. To be able to establish camaraderie and rapport among employees of the center. 2. To be able to continue to attract the best and brightest employees. III. Analysis This is about the circumstances why Sylvia Gregorio wants out of CERD. It not just answer the question of job dissatisfaction but also the outline the steps to take in order to align employee values with that of the organization and what its visions are. It takes into account the recognition of talent, efficiency at work and the values that employees must develop in order to create an organization that encourages camaraderie, rapport and team success rather than being confined to few individuals or gender-equality, efficiency at work and recognition of job accomplishment. At the same time, her negative behaviors about her being unsatisfied with her work as an analyst gives away to complaints and other issues about job inefficiency. IV. Alternative course of solution 1. On promotion of Sylvia Gregorio as head of Solar section: Advantages: • Talent retention • Job satisfaction resulting in increased productivity and boredom at work. Disadvantages: • Resistance to authority due to masculine dominated workplace and lack of respect 2. On the reassignment of Sylvia Gregorio...
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...BU481: Independent Directed Study I Unit 2 – Skills Activity Radica Jagan November 19, 2013 Plagiarism is the use of another’s work, words, or ideas without attribution. The word “plagiarism” comes from the Latin word for “kidnapper” and is considered a form of theft, a breach of honesty in the academic community. Plagiarizers suffer serious consequences but beyond the risk of penalties, there are urgent moral and intellectual reasons to avoid plagiarism. When you write for an academic audience, you’re joining an ongoing conversation. When you plagiarize, you join that conversation on false grounds, representing yourself as someone you are not. What is more, the act of stealing another’s words or ideas erases your voice. It may be difficult to think of yourself as making an original contribution in the context of a class taught by an expert. But every assignment is an invitation to add something new to the conversation sparked by the course. You cannot make an original contribution if you are not the owner of the words and ideas that you present. An interesting article taken from the New York Times tells us of a Plagiarism Scandal regarding the Hungarian president. “The president of Hungary, Pal Schmitt, resigned from his largely ceremonial post on Monday amid a storm of criticism over what he called “unfounded allegations” of plagiarism in his 1992 doctoral thesis”, (By Palko Karasz ,Published: April 2, 2012). It was discovered...
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...1. Constructive Discharge In response to the following legal action of former employee, Mr. Ed Hewhoshallnotbenamed, claim that Toymart is not incompliance with the Title VII of the Civil Rights Act of 1964 in regards to Constructive Discharge. Constructive Discharge is the theory that if an employee resigns from any company it shall be treated as if they were terminated. (McGehee & McGehee Palmer Rivers, 2012) This theory works off the basis that an employee resigns due to working conditions being so unbearable that they felt there was no other option but to resign from alleged company. With this being said, if the allegations are true and the working conditions are what the employee believes them to be, even if the employee has already resigned, they still have the right to sue. Mr. Hewhoshallnotbenamed believes his case is founded after a new company policy had taken effect in regards to schedule change that would require him to work on Sundays which would potentially cause a conflict of interest as he considers it a religious holy day. Due to this new policy, Mr. Hewhoshallnotbenamed felt that the working conditions were unbearable and felt there was no other option but to resign. 2. Title VII Title VII of the Civil Rights Act of 1964, according to the EEOC, is a law that that forbids discrimination because of an individual’s race, color, religion, sex, or natural origin. (U.S. Equal Employment Opportunity Commission, 2014) In this claim against the company, we are...
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...been under question. He had been under investigation for using his authority as detention sergeant and classification officer to sexually harass female inmates at the detention center. Herrera was accused, in a report authored by Steele, of using his authority over the girls to get sex in exchange for personal favors for them. As Herrera’s immediate supervisor, part of Steele’s job included recommending discipline. His choice would include suspension without pay, demotion in rank, and a possible reassignment away from his accusers. Herrera was informed by Steele on April 5, 1994 that on April 12 he would make these recommendations. Herra resigned before the recommended punishment could take place. However, six days after the resignation, Steele wrote a very impressive, but inaccurate, recommendation to a perspective employer of Herrea. In the letter, he stated how Herrera implemented social programs for the inmates with “imagination and imagination.” (Walsh, 2010) He went on to state that “the Department would suffer” because of his departure and that Herrera would be an excellent employee and as asset to the new company. What he neglected to mention was anything about the accusations that were brought against Herrera, thus making the letter inaccurate and very misleading. The issue is whether or not Steele can he held liable for the actions of Herrera and the...
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...Deidre Hanson Case Facts Alex Morgan is a partner in a CPA firm located in a small Midwestern city, which has a population of approximately 85,000. Mr. Morgan’s practice is primarily in the area of financial planning; however, he also performs an annual audit on the city’s largest bank. Recently, Mr. Morgan was engaged by a wealthy couple, Paul and Sara Joseph, to prepare a comprehensive personal financial plan. While preparing the plan, Mr. Morgan became personal friends of the Josephs. They confided to him that they have had a somewhat rocky marriage and, on several occasions, seriously discussed divorce. Preparation of the comprehensive personal financial plan, which is nearing completion, has taken six months. During this period, Mr. Morgan also performed the annual audit for the bank. The audit test sample selected at random from the bank’s loan files included the records of Paul and Sara Joseph. Because certain information in the loan files did not agree with facts personally known to Mr. Morgan, he became somewhat concerned about the implications for the audit. Although he did not disclose his client relationship with the Josephs, he did discuss their loan in detail with a loan officer. The loan officer is very familiar with the situation because he and Paul Joseph were college classmates, and now they play golf together weekly. The loan officer mentioned to Mr. Morgan that he believed Paul Joseph was “setting his wife up for a divorce”, by arranging...
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