Effect of Unethical Behavior Article Analysis Terra Postelle ACC/291 January 08, 2013 Bennie Clark Effect of Unethical Behavior Article Analysis The effects of the Sarbanes-Oxley Act of 2002 on financial statements are general guidelines as to how the information is gathered, calculated and presented to clients while enforcing their accuracy and legitimacy. Companies such as Enron, Tyco, Global Crossing, and WorldCom are just a few examples of corrupt business cultures, practices, and greed
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Effect of Unethical Behavior Article Analysis University of Phoenix Principles of Accounting 2 ACC/291 May 27, 2012 Effect of Unethical Behavior Article Analysis In this paper I will identify situations that might lead to unethical practices and behavior in accounting. I will also examine the effects of the Sarbanes-Oxley Act of 2002 on financial statements. Since the Enron scandal at the end of 2001 there have been several reports of unethical practices as well as poor behavior
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environment which yields high quality accounting data on a consistent basis. Similarly, a suggestions to management will be made concerning providing assurance to investors with reference to upcoming performance forecasts or expected earnings. The next analysis will be focused on evaluating potential consequences to publicly traded corporations when there is a lack of quality within financial accounting and reporting, and making a recommendation on how to minimize those consequences will be provided. Lastly
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Financial Scandals and the Role of Private Enforcement: The Parmalat Case Law Working Paper N° 40/2005 May 2005 Guido Ferrarini University of Genoa, Centre for Law and Finance and ECGI Paolo Giudici Free University of Bozen and Centre for Law and Finance © Guido Ferrarini and Paolo Giudici 2005. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source. This
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but are still in the same positions of power and able to continue their transgressions. Here are some interesting highlights of the last decade: Enron scandal (2001): Andrew Fastow the CFO of Enron along with Kenneth Lay the Chairman and Jeffrey Skilling the CEO develop an offbalancesheet mark to market fraud that loses $11 billion and bankrupts Enron. It is the largest bankruptcy reorganization in US history at the time. They are charged with conspiracy, wire fraud, securities fraud, false statements
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else with your investment. But there is an answer to help protect companies and shareholder, and it comes in the form of a regulatory organization that was put in place in 2002. That was put in place as a direct response to the corporate scandals of Enron and other scandals that followed, and was also put in place to help restore confidence in the financial market. SOX-Applies only to US companies on the US exchange, and is an Act put in place in 2002 to mandate all publicly traded corporations
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Effect of Unethical Behavior Article Analysis ACC/291-Principles of Accounting II June 24, 2013 Dale Wilson Having the correct accounting information in a financial statement gives a business owner certain advantages, such as information on financial transactions. If a business owner has information on when the sales or expenses are increasing or decreasing, he can make decisions that can benefit the company’s bottom line. The same cannot be true if he does not have accurate, or reliable
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Computer Intrusion Forensics Research Paper Nathan Balon Ronald Stovall Thomas Scaria CIS 544 Abstract The need for computer intrusion forensics arises from the alarming increase in the number of computer crimes that are committed annually. After a computer system has been breached and an intrusion has been detected, there is a need for a computer forensics investigation to follow. Computer forensics is used to bring to justice, those responsible for conducting attacks on computer
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Chapter Four Professional Accounting in the Public Interest, Post-Enron Purpose of the Chapter When the Enron, Arthur Andersen, and WorldCom debacles triggered the Sarbanes-Oxley Act of 2002 (SOX), a new era of stakeholder expectations was crystallized for the business world and particularly for the professional accountants that serve in it. The drift away from the professional accountant’s role as a fiduciary to that of a businessperson was called into question and reversed. The principles
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| Forensic Accountant | | BUS508 Professor Gina Zanfinno Melissa Harris 11/18/2012 | The corporate environment in this country is evolving, and the need for forensic accounting grows along with the progressive economy. Due to the increase in corporate scandals the government issued new, stricter regulations in 2002. Majority of accounting firms within the AICPA stated that their need for forensic accountants surged following the rise of financial statement fraud. Forensic
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