JPMorgan Chase Bank Risks Abstract: Fraud has remained a predominant factor in the trade of stocks, shares and other securities because of its unpredictability. The government has laid down many structures and developed enormous laws and enforcement agencies to handle the same. JPMorgan investment bank stands as an example of how hard it is to combat high-risk gambling, given that a bank of its standing and success could fall a victim of the same, notwithstanding the implication
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True/False 1. Walmart has been called a “template for 21st century capitalism.” Answer: F Page: 3 2. A business is any organization that is engaged in making a product or providing a service for a profit. Answer: T Page: 4 3. Businesses and society are independent of one another. Answer: F Page: 4 4. The stakeholder theory of the firm argues that a firm’s sole purpose is to create value for its shareholders. Answer: F Page: 6 5. The instrumental argument for the stakeholder
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KPMG Is Sued Over New Century The trustee overseeing the bankruptcy of subprime lender New Century Financial Corp. filed suit against its auditor, KPMG LLP, claiming that "reckless and grossly negligent audits" helped accelerate the firm's collapse two years ago. The lawsuits filed Wednesday said that specialists at KPMG tried to point out errors in New Century's financial statements but were silenced by the KPMG partner in charge of the audits "to protect KPMG's business relationship with, and
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Corporate governance and Auditing Introduction Corporate governance is a method that the proprietors and financial providers of a business exercises power and necessitate accountability for the assets that is trusted to the business. The proprietors choose a board of directors to be responsible for overseeing the business’s actions and accountability to interested parties. Many parties have a stake in the quality of an organization’s corporate governance. In this assignment, I will discuss two
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ETHICS IN FINANCE Meaning of Ethics Ethics is the study of human behavior which is right or wrong. In general, ethics means doing right things to others, being honest to others, being fair and justice to others. Even ethics in finance is a compartment to general ethics. Ethics are very important to maintain constancy in social life, where people work together with one another. In the process of social development we should not be conscious of ourselves but also conscious to take care of others
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maker of memory chips, liquid-crystal-display panels and TVs, and the largest cell-phone maker. Samsung’s corporate scandal in Year 2008 Lee Kun Hee, Chairman of Samsung Group, stepped down after being charged with tax evasion and breach of fiduciary trust in April, 2008 (2). Assessing unethical practices Lee Kun Hee, Chairman of Samsung Group, owned $4.5 billion worth of stock in Samsung Life and Samsung Electronics that were hidden in 1,200 brokerage accounts in the name of former and
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The increased applications of technology in companies demand an integrated use of information systems and software applications. The numerous advantages evident include; improved speed in processing, accuracy, long reduction in cost and up to date results. Different departments use different information systems and softwares to suit their purpose. Departmental information system is systematically arranged including; people or the users of the system. Their competent in the field and with the system
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Business Law Assignment Unit 9 Gregory Vogel Kaplan University Dale Emerson served as the CFO for the Reliant Electric Company, which distributes power to portions of Montana and North Dakota. Reliant was in the final stages of a takeover of Dakota Gasworks. Dale went on a fishing trip with his Uncle Ernest and mentioned the takeover of Dakota Gasworks. His Uncle Ernest then met with a broker and purchased $20,000 of Reliant stock. Over the weeks, Reliant stock rose and
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violations, the breach has to do with the duties that have been named in the contract. Tort violations however also involve some sort of breach of duty which can be viewed as the causes of action which are not defined in other areas such as contract or fiduciary law,as in the case of “Donoghue v Stevenson (1932)”. The tort of negligence is the most common type of tort and can be divided into four component parts that the plaintiff must prove to establish negligence. These componentsare: • The plaintiff
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faith: to act in good faith in the best interests of the company and for a proper purpose (s 181), including to avoid conflicts of interest, and to reveal and manage conflicts if they arise. This is both a duty of fidelity and trust, known as a ‘fiduciary duty’ imposed by general law and a duty required in legislation If Directors continues to trade knowing that the company will not be able to cover its debts and when they fail, the Directors may be personally liable for debts incurred. In addition
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