Enron Corporation (Case 1.1) Most of us work from rags to riches but this is not the case of the Enron Corporation. Instead of becoming the nation’s greatest company, Enron instead laid claim to being the largest corporate bankruptcy in the history. The greediness and egotism wiped out the honesty and integrity that should instill on the persons who were involved in this case. Arthur Edward Andersen built his firm, Arthur Andersen & Company, into one of the largest and most respected accounting
Words: 3467 - Pages: 14
2. What is an audit and how often can a business be audited by the tax office? An audit is the examination of the financial report of an organization - as presented in the annual report - by someone independent of that organization. The financial report includes a balance sheet, an income statement, a statement of changes in equity, a cash flow statement, and notes comprising a summary of significant accounting policies and other explanatory notes. The purpose of an audit is to form a view on
Words: 1117 - Pages: 5
目錄 封面----------------------------------------------------------------------------------------------------P.1 目錄----------------------------------------------------------------------------------------------------p.2 章節:---------------------------------------------序言------------------------------------------------p.3 章節1:----------------------------------聯想集團公司簡介------------------------------------P.4 章節2:---------------------------------聯想在中國的發展戰略----------------------------P.5-7
Words: 831 - Pages: 4
Reflexion I: Es ist unglaublich welche Gier, Macht und Selbstübereinschätzung damals bei Enron vorgeherrscht hat. Jahrelang konnte das Unternehmen Bilanzverfälschungen, Betrug und dubiosen Geschäften geheim halten. Doch letztendlich ging Enron bankrott und alle Geheimnisse des Konzerns kamen ans Licht. Regulierungsphase (- 1985) 1926 wurde der Vorgänger von Enron, Houston National Gas, gegründet. Es war ein regionales Pipeline-Unternehmen mit einem guten Ruf. Aufgrund der Wirtschaftskrise in
Words: 1276 - Pages: 6
目录 《证券分析》中译本序 ................................................................................................................... 2 《证券分析》推荐序 ....................................................................................................................... 3 致读者 ............................................................................................................................................... 4 导言 .............................................................................
Words: 17109 - Pages: 69
BUS 424 Auditing Summary of Key Audit Planning Concepts Dr. Miller I. GAAP versus GAAS/SAS Generally Accepted Accounting Principles (GAAP) – Consists of Statements of Financial Accounting Standards (SFAS) created by FASB to guide the preparation of financial statements. Generally Accepted Auditing Standards (GAAS) – 10 general standards representing a framework from which AICPA can provide interpretations. They are organized into 3 groups – General Qualifications, Field Work Performance
Words: 2722 - Pages: 11
|Concept |Application of Concept in the Scenario |Reference to Concept in Reading | |Shift in Corporate Power |By appointing a board that is approved by the investor, this effective shift|“…But, in the last decade, and especially | |from CEO to Stakeholders |will occur. In today’s business environment the board plays an active role |in the past five years, boards of directors| | |in decisions as opposed
Words: 681 - Pages: 3
ACC460 –Auditing Video Case Fraud and Tone at the Top - Video Case Questions This video is an informative video made for accounting students and employees that outlines the danger of corruption and fraud in the workplace. The majority of the video is an interview with Walt Pavlo of MCI Worldcom. He explains his case and the steps that lead him to take the actions that landed him in prison. While he is telling his story two gentalmen describe how Walt’s story relates to the world of auditing
Words: 325 - Pages: 2
Dog Foods, Inc. Audit AC555 – External Auditing Devry University Professor Dorothy Brandt Keller Graduate School of Management Introduction Smackey Dog Foods, Inc. is a private own dog food manufacturer. The company was started by three sisters in the suburbs of Chicago. Smackey’s clientele are veterinarians, local pet stores and groceries stores. Smackey is in the process of expansion, and the purchase of new equipment produced the demand for an independent audit. The company has
Words: 2989 - Pages: 12
The board of directors, and its audit committee, can be an effective [4] corporate governance mechanism. [a] Discuss the pros and cons of allowing inside directors to serve on the board. Describe typical responsibilities of audit committees. Professional standards note that the board of directors and its audit committee are an important component of an entity’s control environment. Those standards (e.g., see Appendix B in AU Section 314) note that “an entity’s control consciousness is influenced
Words: 438 - Pages: 2
