Enron

For my person to be researching, I am covering Bernard Ebbers. Ebbers committed fraud, and he tried to merge his company with Sprint. This action was brought to the attention of the Department of Justice. Who immediately dashed this possibility. Ebbers company had an investigation with the SEC. Which led to the bankruptcy and to his eviction. Bernard owed $400 million in margin calls. And he convinced the board to lend him that money, so that he wouldn’t have to give up important blocks of the…

SATYAM SCANDAL- INDIA’S OWN ENRON The Satyam Computer Services Limited company’s wrongdoing is a corporate scam that occurred in India in 2009 where the chairman, Mr. Ramalinga Raju revealed that the company’s accounts had been falsified. Background In 1987, Ramalinga Raju established Satyam, with his brother and brother in law, for providing software development and consultancy services to large firms. The company became public in 1991 and was listed on the Bombay Stock Exchange (Balachandran…

establishment of the Sarbanes-Oxley Act, yet the decrease in flexibility adds a sense of structure for companies. While these changes have enforced adjustments, throughout these last fourteen years the U.S. economy has been able to dodge many problems like Enron. Those companies that could not or would not accommodate are no longer present. The Sarbanes-Oxley Act is no perfect solution to any problem that will come into the economy but it does provide guidelines that can prevent more mistakes.…

In the early 2000’s the United States was rocked by several companies, such as: Enron, WorldCom, Tyco and Sunbeam because these companies collaborated with their auditors and provided misleading financial reports to their investors and shareholders. Consequently, the Sarbanes Oxley Act of 2002 was enacted by the U.S. Congress to protect investors from the possibility of fraudulent accounting activities by corporations by mandating strict reforms to improve financial disclosures from corporations…

Following the disastrous impact of a number of corporate and accounting scandals, especially those involving major corporations such as Worldcom and Enron, U.S Congress decided to pass the Sarbanes-Oxley Act of 2002 (SOX). This had come not long after investors and companies lost billions of dollars due to the result of such corruption, thus having a negative impact on financial markets and investor trust. The enactment of SOX set forth new standards and provisions which sought to improve the…

heavily regulated. Starting off the Sarbanes-Oxley was enacted in 2002, the Sarbanes-Oxley Act is designed to protect investors and the public by increasing the accuracy and reliability of corporate disclosures. It was enacted after the high-profile Enron and WorldCom financial scandals of the early 2000s. It is administered by the Securities and Exchange Commission, which publishes SOX rules and requirements…

increased interest in authentic leadership due to the great deal of societal upheaval and instability that the United States experienced beginning in the late 1990s through 2000s. The attacks of 9/11, widespread corporate scandals at companies such as Enron and WorldCom, as well as massive failures in the banking industry all created a great deal of fear and uncertainty amongst the population. People were longing for leaders who were honest and good. These factors made the study of authentic…

The Sarbanes and Oxley Act of 2002 (SOX) was put into place because of outrageous fraud acts that were conducted by U.S. corporations that led to the layoffs of thousands of Americans. Companies were self-auditing therefore creating conflicts that might inflate accounting statements. The executives of the companies were not savvy enough to understand the complex forms to do addition checks on initial reporting. I this report the major topics that will be discussed are Mistakes made by the…

Introduction Nortel Network Corporation was a huge Canadian player in telecommunication. It was a part of the telecommunication boom in the 1990's. Like many companies it had a great rise then suddenly it started to fall. There was four huge reasons for the company downfall: governance structure at the board level, executive compensation, ownership structure, and earnings management. (Collins, 2012) The company may have started with some good Samaritans but as it grew more and more the company…

Corporate governance became a very important issue in 2002, with the passing of Sarbanes Oxley Act. It sought to restore public confidence in corporate governance following the collapse of several major companies, due to accounting fraud, such as Enron and Worldcom. Corporate governance continues to be a hot topic today with the rising in corporate ethics. For example, one such issue is whether corporations should take responsibility beyond their direct shareholder interests, to include the…