Week Five Discussion Question 1 What components do you think are most important in a communication plan? What are the advantages of a formalized communication plan? What might happen if a consultant does not establish a communication plan with a client? In my opinion, the most important components in a communication plan consist of the measurable goals and objectives. The measurable goals are meant to express the end points towards the direct effortsof the project. The business consultant's communication
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stakeholders (not simply shareholders) as part of their annual report (Quinn, 2008). According to Quinn (2008), “What you don’t know about corporate enterprise risk management (ERM) may hurt you—and probably already is. Think of the number of post-Enron cases that have resulted in retirement benefits and stock value being wiped out overnight and weaknesses in corporate information technology systems that have allowed hackers to steal your identity (if not your wealth). All of these and a growing number
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The auditor’s report is the most visible product of the auditor’s work. According to PSA 200 (Revised and Redrafted) the prime purpose of an audit report is to enhance the degree of confidence of intended users in the financial statements which can be achieved by the expression of an opinion by the independent auditor on whether the financial statements are prepared, in all material respects in accordance with the applicable financial reporting framework. Putra, in his article entitled Understanding
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Krispy Kreme Dougnuts: Empty Calories or Empty Profits? Case Study of the Impact of Sarbanes-Oxley Act ("SOX") Krispy Kreme Doughnuts (KKD), a once high flying growth stock has been hampered as of late with shareholder lawsuits. When sales growth and earnings began to drop significantly in 2003, the company blamed its problems on the popularity of low-carbohydrate diets like Atkins and South Beach at the time. But the SEC began probing Krispy Kreme's accounting for franchise buybacks and is now
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Patrick Chamberlain Dr. Wokukwu Intermediate Accounting October 13, 2011 Corporate Responsibility of Sarbanes Oxley Act of 2002 To first understand the corporate responsibilities of the Sarbanes Oxley Act of 2002, otherwise referred to as SOX; you first need to understand that the Act was created for. The SOX came into effect in July 2002 and it was introduced for major changes to the regulation of corporate governance and financial practice. The act was also known as the ‘Public
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the organization exists and state goals on what they hope to achieve. One of the most comprehensive mission statements that review their goals in terms of leadership, quality and value, profits, ethics, and social responsibility is Caterpillar (King, Case, and Premo, 2010). Caterpillar Caterpillar will be the leader in providing the best value in machines, engines, and support services for customers dedicated to building the world’s infrastructure and developing and transporting its resources. We
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A., & Browne, N. (2009). The legal environment of business: A critical thinking approach (5th ed.). Upper Saddle River, NJ: Pearson-Prentice Hall.Ferrell, O. C., Fraedrich, J., & Ferrell, L. (2010). Business ethics: Ethical decision making and cases (7th ed.). Boston: Houghton Mifflin Company/South-Western/Cengage Learning.PLEASE READ SYLLABUS PART II in the Course Home tab, it contains important University policies.GETTING TECHNICAL HELPTechnical questions regarding eCollege or classroom issues
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Washington, D.C., Oct. 13, 2004 - The Securities and Exchange Commission today announced the filing of enforcement actions alleging fraud and other violations against Royal Ahold (Koninklijke Ahold N.V.) (Ahold) and three former top executives: Cees van der Hoeven, former CEO and chairman of executive board; A. Michiel Meurs, former CFO and executive board member; and Jan Andreae, former executive vice president and executive board member. The Commission also charged Roland Fahlin, former member
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Europe’s Enron: Royal Ahold, N.V. 1. As shown in Exhibit 3, Royal Ahold decided to fully consolidate the company’s financial data into their financial statements. The problem was that they only held 50 percent ownership in these companies. Under Dutch GAAP, they were only supposed to consolidate the amounts equivalent to their ownership in those companies. They were able to include the entire amount of their partnership companies by persuading their auditors to allow them to do so. Instead
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most frequently debated areas amongst auditors, politicians, media, regulators and the public is where the fraud is coming from and by whom. This disagreement has been especially tinted by the collapse of big corporations like Enron and WorldCom. The unforeseen fall of Enron and WorldCom traumatized the world as both of these companies received clean bills of health from their auditors immediately prior to their for bankruptcy. Type of fraud Fraud itself comprises a large variety of activities and
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