Accounting professionals provide validity, signing off on annual reports, which directly or indirectly play a critical role in establishing and maintaining the confidence of the investors. Unfortunately, we are not learning from our past mistakes. History shows us that after every crisis, e.g the great depression of 1929, economic downturn of 1988, dotcom bubble of 2000, Enron and Worldcom issues, and finally the subprime mortgage crisis, there has been a need to appoint boards which recommended
Words: 596 - Pages: 3
benefit of the company. My accounting and academic experience, as well as my efforts towards CPA certification, have prepared me well to make a significant contribution to your organization. I have an undergraduate degree in the field of accounting and finance from a very reputed school. Currently, I am enrolled in a highly accredited graduated school to purse my degree in Masters of accounting and financial management. I have also specialized in several area of accounting in my previous employment
Words: 466 - Pages: 2
Daniels Fund Ethics Initiative University of New Mexico http://danielsethics.mgt.unm.edu WorldCom’s Bankruptcy Crisis INTRODUCTION The story of WorldCom began in 1983 when businessmen Murray Waldron and William Rector sketched out a plan to create a long-distance telephone service provider on a napkin in a coffee shop in Hattiesburg, Miss. Their new company, Long Distance Discount Service (LDDS), began operating as a long distance reseller in 1984. Early investor Bernard Ebbers was named CEO
Words: 4011 - Pages: 17
ACC 704 BBUSINESS ETHICS AND GOVERNANCE TRIMESTER 3 2014 Major Group Assignment NAME | ID | RATU LEPANI VAKACEGU | 2007001708 | EMA MARAMA | 2013114712 | KOLOFIU TALEI KANAWALE | 2013112448 | ROSALIA RADUVA | 2012000295 | Topic: Social Accounting & Ethical Governance Abstract Social accounting and ethical governance is becoming a concern in Fiji businesses nowadays. This assignment will outline how Bank of the South Pacific deals with social accounting and transparency
Words: 6006 - Pages: 25
consequences if failure in providing in independence audit work, as well as auditors’ responsibilities. Enron Corporation was an American energy, commodities and services company, which filed bankruptcy at the end of 2001. Arthur Andersen, a big accounting firm that was responsible for Enron’s audit process, was found guilty on federal charge a year later after Enron filed its bankruptcy because it obstructed by destroying thousand of documents related to Enron. Between 1996 and 2002, Enron’s revenue
Words: 1161 - Pages: 5
Ethics and Compliance in Finance In present day, conducting business ethically and honestly becomes a vital factor in the success of an organization, and Starbucks’ has excelled with its standards. Starbucks strives to always do the right thing and facilitates legal compliance and ethics training for their employees. Their seriousness with the matter became reflected upon them in 2011 when they became ranked as one of 38 of the most ethical companies by Ethisphere magazine. Commitment to strong
Words: 750 - Pages: 3
The first opportunity that budgets and performance reports have is to help Guillermo make choices. These choices can lead to whether Guillermo can afford or need the added machinery that he is now considering. Guillermo’s has to ensure that his accounting decisions ensure he does not end up in a ethical dilemma. How could Guillermo use budgets and performance reports in his decision-making process? Budget: A budget can be a great tool for Guillermo to use. With this budget Guillermo
Words: 528 - Pages: 3
the company. What are the strengths of Professor Waddock’s analysis? In my opinion, the main strengths of Professor Waddock’s analysis is it emphasizes the importance of ethics, allows the readers to see another alternative, and reminds us the possible consequences of poor accountants. The basic definition of ethics
Words: 1082 - Pages: 5
Accounting, Auditing & Accountability Journal Corporate social reporting and reputation risk management Jan Bebbington Carlos Larrinaga Jose M. Moneva Article information: Downloaded by University of Strathclyde At 07:57 17 October 2014 (PT) To cite this document: Jan Bebbington Carlos Larrinaga Jose M. Moneva, (2008),"Corporate social reporting and reputation risk management", Accounting, Auditing & Accountability Journal, Vol. 21 Iss 3 pp. 337 - 361 Permanent link to this document:
Words: 16821 - Pages: 68
Accounting for Enron 1. As a partner to the firm, David Duncan had the responsibility to maintain a clean name for his auditing firm. He was supposed to apply his knowledge and wisdom to market his firm but failed to do so. As an auditor to Enron, he ought to have given a true and fair value of the company’s accounting records. He was also supposed give his expert views on the various financial huddle facing the company. Furthermore, he had a duty to report the company’s true and fair value to
Words: 414 - Pages: 2
