The American Institute of CPA’s The American Institute of CPA’s (AICPA) provides a Code of Professional Conduct to its members. The purposes of the Code are to protect the public and raise public confidence in the profession, to provide guidance in respecting the confidentiality of clients and employer’s, and to maintain these high standards through the sharing of information with members. Protect the Public The first purpose, protection of the public and to raise public confidence in the accounting
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4Introduction………………………………………………...…………………………………………5The importance of Ethics in Accounting…….……………………………………………………………………..6 Creative Accounting…………………………………………………………………………….…7 Accounting Scandals..……………………………………………………………………………………………………10 The Enron Scandal……………………………………………………………………………………..10 The WorldCom Scandal………………………………………………………………….…………..12The consequences of Creative Accounting……………………..…………………………………13Measures of Prevention……………………………………………………………………………………15Conclusion………………………………………………………………………
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Most Significant Events Casey Turner HIS/135 11/20/2011 I am writing this paper to reveal and describe different events that have occured over the past 50 years that have had a direct impact on the United States and affected the way we all live today. There are many economical, social, and political events that have helped shaped not only our country, but many other nations around the world as well. This paper is an attempt to reveal and speculate on some of these important events. 1950’s
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Assignment #1- Sarbanes-Oxley Act Charleen Herriott Instructor Partica Strayer University June 5, 2011 Sarbanes-Oxley Act In the wake of corporate scandals involving World Com, Enron, and other large companies accused of defrauding shareholders, Congress passed the Sarbanes-Oxley Act of 2002. The stated purposes of SOX is to protect investors by improving the accuracy and reliability of corporate disclosures, and much of the law seeks to further this goal by imposing strict rules for audits
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Crimes against Property Andy Berg Professor Lisa Armonda, J.D. CRJ 105 Crime and Criminal Behavior 21 February 2012 Introduction The phrase "white-collar crime" was coined in 1939 during a speech given by Edwin Sutherland to the American Sociological Society. Sutherland defined the term as "crime committed by a person of respectability and high social status in the course of his occupation" (Sutherland). Although there has been some debate as to what qualifies as a white-collar crime, the
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White Collar Crime – presented by Mr. Neil Weinberg Mr. Neil Weinberg, Executive Editor of Forbes Magazine, wrote “Stolen Without A Gun” with co-author Walter Pavlo, using the compelling personal story of Mr. Pavlo to portray in intimate detail the pressures that white-collar professionals face every day in corporate world. Mr. Weinberg’s discussion at Rotman was extremely relevant to MBA students because of the main narrator’s background: Pavlo was a young MBA who had a promising career at MCI
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Deloris Alston November 26, 2011 Enron and WorldCom scandals chp#2 1. Which segment of its operations got Enron into difficulties? They didn't have a governance system as we know them today They spent more time trying to find loopholes in tax law rather than how to make legitimate operations profitable 3. Did Enron’s directors understand how profits were being made in this segment? Why or why not? I believe they knew that the company was cheating on the books to make profit for themselves
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Solutiongo to problem WorldCom scandal was one of the biggest accounting scandals of American corporate history. WorldCom was a U.S based telecommunication company. The WorldCom accounting scandal was disclosed in 2002. The Company had resorted to fraudulent accounting practices for five quarters (four quarters of 2001 and the first quarter of 2002) (The WorldCom Accounting Scandal, 2002). The well-known telecommunication company WorldCom and the accounting, auditing and consultancy enterprise were
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Accounting 1370 Accounting Ethics Session 6 Governance, Accounting, and Auditing, Post-Enron Group 1: Student Name__Seven Autrey_____________________________________ Student Name__Duc Nguyen_____________________________________ Telling the Enron Story Name five ethical problems and the existing conditions that caused the Enron fiasco. Explain each. 1. Fiduciary Failure – the board of directors failed to safeguard the companies from many inappropriate practices. 2. High Risk
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In: Raimo P. Hämäläinen and Esa Saarinen, eds. 2007. Systems Intelligence in Leadership and Everyday Life. Systems Analysis Laboratory, Helsinki University of Technology, Espoo. CHAPTER 11 Reasons of Systemic Collapse in Enron Matti Rantanen This article studies the moral development at Enron from the perspective of its long-term CEO and chairman Ken Lay. I focus on some critical decisions in the early years of Enron and speculate why Lay chose in favour of non-systems intelligent solutions
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