This paper discusses business ethics in the Enron case.
This paper examines two scenarios in which internal control failures resulted in serious compliance issues. The first involves a Merrill Lynch and its failure to create internal procedures that would prevent a conflict of interest in which stock analysts were making recommendations for or against stock in companies that Merrill Lynch performed investment banking work for. The second involved a fraudulent financial reporting scheme involving one of the nation's largest telecommunications companies, QWest which resulted in billions of dollars of misstatements.
This is a summary of an article dealing with business and accounting ethics. Briefly summarizes the article;
relates the article to accounting, basic financial statements or balance sheets, the accounting cycle, accruals and deferrals and reporting financial results.
U.S. Government vs. Corporate America
Summarizes the Sarbanes-Oxley Act of 2002 and why this legislation is needed. The purpose of the bill to restore public faith in the stock market, and establish safeguards for investors. Provisions of the bill.
THE AUDITOR & FRAUD.
Role & responsibilities of external auditor in detecting fraud. Standards, definitions, costs & risks, causes & types of fraud, corp. disclosure. Tables.
Commissions, Ethics, and Accounting
Discusses the preparation of financial statements to file with the SEC for public use in investment decisions as balancing the needs of the company and the needs of its stakeholders, and in particular the shareholders. Cites the PCAOB's desire to remove the “honors system” and “unavoidable risk” from financial reporting, and the belief of FASB that they are asking the impossible.
AUDITORS & FRAUD.
Role & responsibilities of auditor in detecting & investigating fraud.