Enron scandal

he company of Nortel looked invincible and financially stable from the outside. Roth helped the company to changing times through the introduction of internet networking. But, unethical practice led to the eventual doward spiral and liquidation of Nortel. If accurate financial statements showed the true economic situation of Nortel, then investors and others could make bettter decisions. This would provide Nortel a foundation to stand on and continual growth during the economic recession. .…

I have selected Bernard Madoff, stock broker and financial adviser at Bernard L. Madoff Investment Securities and he was a former chairman of NASDAQ as an unethical leader. He promised investors large returns on their investment. He started a Ponzi Scheme that pays its investors by recruiting new investor so that the principal they pay can be used to pay older investors. He would let the investors know how they are making periodically without any real returns. He told them that it was due to…

There were many factors that contributed to NFL players losing a large portion of their wealth to financial investors. The NFL players association (NFLPA) provides their players with a list of financial advisors. These advisors pay a membership fee and the league supposedly puts candidates though an extremely intense background check. Unfortunately for many NFL players, they started working with a financial advisor that caused many of them to lose large amounts of money in investments. The…

What is The Sarbanes-Oxley Act (SOX)? It may be one of the most pivotal financial acts to have come about in recent history. It is a law that was enacted in 2002 and signed by President George W. Bush (U.S Securities and Exchange Commission 2013). The Securities and Exchange Commission (SEC) enforce this law to regulate changes in financial practices and corporate governance. The main purpose of SOX is to protect shareholders and the public from accounting fraud and errors. Fundamentally,…

Coal companies are making big bucks by digging up land in search of coal and in the process they’re barely cleaning up the mess they made. They have the money to do the cleaning up, but they don’t want to pay it. Even regulators are fearing a one billion dollar coal cleanup bill. If it was up to the coal companies they would leave the $1 billion bill for the taxpayers to deal with. Michael Corkery states that, “ The regulators worry that coal companies will use the bankruptcy courts to pay off…

Yes, both parties should be held accountable. The board of directors who ought to really screen the administrators, helping toward the organization; rather was much the same as leaving everything to the management itself to do whatever they feel is right. None of the outside directors had general correspondences with the top management or with other representative outside of board or council gatherings and preceding April 2002, they were never met without anyone else's input to talk about matter…

The Sarbanes-Oxley Act of 2002 gave the PCAOB the authority to investigate and impose disciplinary sanctions against any individual or any registered public accounting firms that violate any of the accounting standard. These standard include those set by the PCAOB and the Security and Exchange Commission, professional standards that governs brokers, dealers and auditors of public companies. PCAOB Rules 5000-5113 outlines the PCAOB’s authority to conduct inquiries and investigations. PCAOB will…

After conducting a search for research gaps on literature related to my topic, I have concluded that in fact, there are unknowns about my topic. I did not find any existing literature about whether or not there is a close relationship between institutional ethical leadership and organizational longevity. Do leaders of organizations behave in an ethical way based on their own set of values and principles, or is their behavior shaped by an established organizational ethical culture? In practice,…

This undue imposition of corporate political interests onto individuals is a direct result of the FEC case and its improper definition of corruption. The corruption that manifests itself in today’s political arena stems from the increases in independent political expenditures by corporations with limited transparency that magnify the perception of a corrupt political system to citizens. Consequently, in today’s American political environment, perception is reality, because it has been found that…

Even though Some people believe he tried to rob his customers for his new technology being so overly expensive, Bill Gates should be remembered for making the huge technology advancements. because He is a Co-owner of the giant international company Microsoft. and He is very successful in life and has done everything right down the road in which got him to be so overly successful. Some people believe he tried to rob his customers for his new technology being so overly expensive. As with…