* Identify and protect against reasonably anticipated threats to the security or integrity of the information; * Protect against reasonably anticipated, impermissible uses or disclosures; and * Ensure compliance by their workforce. Sarbanes-Oxley compliance will specifically design the health care organizations on establishing reliable financial reporting. Healthcare officers will be responsible in writing formal statements that include: * The signing officer has reviewed the financial
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Assignment 1 Employment at Will Doctrine 1. Describe what steps you would take to address the following scenario involving skills, competence, and abilities: "Employment at Will" basically means that an employer may terminate an employee without notice or cause. While companies generally adhere to progressive discipline, it is not bound or obliged to do so. It is up to the company's sole direction to terminate at any time with or without a cause. The situation that the employer
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may arise. Since ethics is such a major concern in the accounting industry, a rules based system is in place for enforcing ethical concerns. There are many regulating bodies that exist that enforce many highly detailed regulations that people within the industry must follow at all times. Throughout history there have been several major accounting scandals that have been followed by new regulation to ensure that these problems do not come up again. CLERP 9 and the Sarbanes-Oxley Act are just a couple
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standards don’t just happen they are enforced. Without compliance programs, loopholes are created for the dishonest. Discuss how the issues with the Arthur Anderson case may have played out differently if the Sarbanes-Oxley Act had been enacted in 1999. The provisions of Sarbanes-Oxley Act help minimize the likelihood of auditor failing to identify accounting irregularities by the following requirements: 1). Improving the internal control. Auditors comment on the internal control of the firm should
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Case: The Fall of Enron 1. Why was Enron such an admired company prior to 2000? What innovation do they bring to the table? Be specific and support your statement with concrete information. Enron was an admired company prior to 2000 because at that time it surfaced as a frontrunner in the deregulated energy market, making it possible to sell energy at higher prices, thus significantly increasing its revenue. The company, through efficient management team, has built leading businesses in energy
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Triangle………………………………………………………….8 c. What to look for in a fraudster…………………………………………9 Past Cases of Fraud……………………………………………………….10 a. WorldCom…………………………………………………………….11 b. Tyco International Ltd………………………………………………..15 c. Adelphia Communications Corporation…………………………....…17 Sarbanes-Oxley Act of 2002………………………………………...…....20 a. Analysis of SOX: Costs vs. Benefits…………………………………34 i. Interview of
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Review of Accounting Ethics ACC557 Financial Accounting Ethics in Accounting and the Fall of WorldCom In 2002, WorldCom was the second largest telecommunications company in the United States, but because of management failures and an unethical accounting culture it went bankrupt. This paper contains a discussion describing corporate ethics currently used in business; WorldCom's background, and the ethical breach; how WorldCom's ethical issue was discovered, describing how management failed
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Discuss how personal differences and preference can impact organizational ethics. Possibly one of the most important aspects of organizational ethics lies with the systems of belief of those in upper management positions. Those who feel as though they should be allowed to get by with poor business practices and unethical decisions will obviously be in conflict with those who feel as though the business should only be operated under the most ethical conditions. As in any business organization,
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Ethics in Accounting and the Fall of WorldCom Alison Painter Breeden Juanita S. Edwards, CPA ACC 557: Financial Accounting 23 January 2013 Ethics in Accounting and the Fall of WorldCom In 2002, WorldCom was the second largest telecommunications company in the United States, but because of management failures and an unethical accounting culture it went bankrupt. This paper contains a discussion describing corporate ethics currently used in business; WorldCom's background, and the ethical
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PRINCIPLES AND STANDARDS OF CONDUCT It is Company X’s commitment to: Provide equal employment opportunity and treatment regardless of race, religion, color, sex, age, national origin, veteran status, marital status, sexual orientation, disability, citizenship status, pregnancy, genetic information or any other protected group recognized by applicable federal, state or local laws. Monitor and comply with applicable federal, state, and local laws and regulations concerning Team Members’ safety
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