Evaluation of Unethical Behavior Concerning Accounting Fraud
1. Relevant facts;
The Anderson Accounting firm that provided independent accounting. auditing, and consulting services for Enron company was one of the greatest debacles of the last two decades. Anderson company thrived through its recognition throughout almost century since its founding in 1918. The company thrive on independent services, high skill CPA accountancy services, and skilled force of the brightest in the industry making sure over the years that the integrity and sense for the rules are followed in highest regard. With the expansion of the company throughout the 1950-1970 the company enjoying additional boost from the high stakes clients and industry in U.S and globally recognized companies such as Waste Management, Subeam, Wold.com, Shlitz, General Electric, and others (www.danielsethics.mgt.unm.edu, 2015). The surge of the profits was so lucrative that the company actually expended and provided services. With its new application of computerized based services of auditing, known only few companies around the globe in the times, seems very promising for accurate assurance of actual financial standing of company such as Enron. Enron known as an energy giant based in Texas, with 20,000 employees across U.S. and its financial stake in markets valued around 112 billion dollars in …show more content…
Ethical issues;
The cornerstone of the Enron’s company ethical values spell RICE which is short for Respect, Integrity, Communication and Excellence. In all of the aspects of their own code of value this company fails to uphold these principles on all grounds (Rapaport, 2009). Additionally, integration of conflict of interest by Anderson company services, with violation of all of the accounting principles such as not intermingle business interest with company that Anderson company was servicing. The detail account of at least 5 violation of fraud will follow in further explanation bellow.
3. Primary
1. Relevant facts;
The Anderson Accounting firm that provided independent accounting. auditing, and consulting services for Enron company was one of the greatest debacles of the last two decades. Anderson company thrived through its recognition throughout almost century since its founding in 1918. The company thrive on independent services, high skill CPA accountancy services, and skilled force of the brightest in the industry making sure over the years that the integrity and sense for the rules are followed in highest regard. With the expansion of the company throughout the 1950-1970 the company enjoying additional boost from the high stakes clients and industry in U.S and globally recognized companies such as Waste Management, Subeam, Wold.com, Shlitz, General Electric, and others (www.danielsethics.mgt.unm.edu, 2015). The surge of the profits was so lucrative that the company actually expended and provided services. With its new application of computerized based services of auditing, known only few companies around the globe in the times, seems very promising for accurate assurance of actual financial standing of company such as Enron. Enron known as an energy giant based in Texas, with 20,000 employees across U.S. and its financial stake in markets valued around 112 billion dollars in …show more content…
Ethical issues;
The cornerstone of the Enron’s company ethical values spell RICE which is short for Respect, Integrity, Communication and Excellence. In all of the aspects of their own code of value this company fails to uphold these principles on all grounds (Rapaport, 2009). Additionally, integration of conflict of interest by Anderson company services, with violation of all of the accounting principles such as not intermingle business interest with company that Anderson company was servicing. The detail account of at least 5 violation of fraud will follow in further explanation bellow.
3. Primary