Introduction WorldCom is a telecommunications company which was lead by CEO, Bernard Ebbers and CFO, Scott Sullivan. In 1999, WorldCom was not melting Wall Street’s revenue and earnings expectations, and it appeared that the coming year would produce more bad news. The CFO argued for setting realistic targets. However the CEO insisted that the company needed double digit growth, and pushed for aggressive targets. These aggressive targets were not supported by historical data or strategic assessments
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The Rise and Collapse of Enron: Financial Innovation, Errors and Lessons Elisa S. Moncarz* Raúl Moncarz* Alejandra Cabello** Benjamin Moncarz*** Abstract Recent collapses of high profile business failures like Enron, Worldcom, Parmlat, and Tyco has been a subject of great debate among regulators, investors, government and academics in the recent past. Enron’s case was the greatest failure in the history of American capitalism and had a major impact on financial markets by causing significant
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Segregation of Duties Introduction An important function of the accounting field is to provide external users of financial statements with assurance that the financial information being presented is both reliable and accurate. This basic function of accounting is so important that there is an entire field of experts, called auditors, dedicated to assuring its proper performance. Throughout history there have been many instances in which the basic equilibrium between an institution and current/potential
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ETHICAL ISSUES Ethical issues is deem to give implication on the nature and role of accounting. Thus, to ensure that accounting stated roles can be perform successfully, accountants, as professionals, are expected to maintain a level of ethical conduct that goes beyond society’s laws. They have the responsibility to ensure that their duties are performed in conformity with the ethical values of honesty, integrity, objectivity, due care, confidentiality, and the commitment to the public interest
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Universitas Indonesia Analisis Kasus: Skandal Enron Disusun Sebagai Salah Satu Tugas Kelompok Mata Kuliah Etika Bisnis dan Tata Kelola Oleh: Jonathan Tjahjadi (1406513893) Justinus Okky M. P. (1406513911) Pandu Dewanto (1406514132) Revana Aryani (1406514246) Dosen: Dr. Lily Sudhartio FAKULTAS EKONOMI DAN BISNIS PROGRAM STUDI MAGISTER MANAJEMEN UNIVERSITAS INDONESIA APRIL 2015 “Saya sangat meragukan bahwa manajemen Enron mendatangi tempat kerja mereka di pagi hari dan
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Assignment: Background Read the following Case Scenario and then attempt this task Enron: How the Failure of Leadership, Culture, and Unethical Behavior Brought a Giant to its Knees Background A company with humble beginnings, Enron began as a merger of two Houston pipeline companies in 1985. Although Enron faced a number of financially difficult years, the deregulation of the electrical power markets took effect in 1988, and the company redefined its business from "energy delivery" to "energy
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Fastow, chairman of the board, Kenneth Lay, CEO, Jeffrey Skilling. 2. Q-1 What are the systemic, Corporate nd individual issues raised by this case ? In the Enron fraud mainly involve persons are Andrew Fastow Enron and another one person is Arthur Anderson and then many other like jeff skilling and other. In this case in terms of systemic
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Enron Managerial Organization Ismael Cruz University of Phoenix LDR531 Instructor Jerry Kahn 02/27/2012 Enron Managerial Organization Organizational behavior theories help manage organizations with managerial issues, such as Enron, an energy company based in Houston, Texas, as in October 2001, revealed the largest accounting failure and internal financial corruption in U.S. history. Perhaps, the lack of transparency, and dishonest executives cause the company’s failure. The lack of specific
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THE LEGAL REGULATION OF THE EXTERNAL COMPANY AUDITOR IN POST-ENRON SOUTH AFRICA Hannine Drake THESIS PRESENTED IN FULFILMENT OF THE REQUIREMENTS FOR THE DEGREE OF MASTER OF LAWS AT THE UNIVERSITY OF STELLENBOSCH Supervisor: Prof A.H. van Wyk March 2009 ii DECLARATION By submitting this thesis electronically, I declare that the entirety of the work contained therein is my own, original work, that I am the owner of the copyright thereof (unless to the extent explicitly otherwise
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profit and hiding things that were taking place in the company. 9. Identify conflict of interest in: * SPE activities * Arthur Andersen’s activities * Executive activities THE FALL OF ENRON has understandably generated significant interest in the professional literature as well as in the popular press. The activities and events underlying Enron's collapse are manifold, but several stand out as particularly noteworthy. One is the use of special purpose entities (SPEs). Although SPEs
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