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The Enron scandal was defined as being one of the biggest audit failures of all time. The scandal included utilizing loopholes that were found within the GAAP (General Accepted Accounting Principles). For auditing a large-sized company such as Enron, the auditors were criticized for having brief meetings a few times a year that covered large ...
An Enron manual of ethics from July 2000, about a year before the company collapsed. Enron's complex financial statements were confusing to shareholders and analysts. [1]: 6 [10] When speculative business ventures proved disastrous, it used unethical practices to use accounting limitations to misrepresent earnings and modify the balance sheet to indicate favorable performance.
Arthur Andersen LLP was an American accounting firm based in Chicago that provided auditing, tax advising, consulting and other professional services to large corporations. By 2001, it had become one of the world's largest multinational corporations and was one of the "Big Five" accounting firms (along with Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers).
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Bristol-Myers Squibb accounting scandal [10] British Airways, for the "Dirty Tricks" scandal against Virgin Atlantic; Brown & Williamson, for chemically enhancing the addictiveness of cigarettes, becoming the leading edge of the tobacco industry scandals of the 1990s, eventually resulting in the Tobacco Master Settlement Agreement
Ideally, CFOs should approach the accounting process ethically, but there are currently two high-profile scandals with finance chiefs in the spotlight—but for different reasons. While one CFO ...
Former CEO Sanjay Kumar, who served time and paid penalties [8]; Former sales executive Stephen Richards [6]; Former CA general counsel Steven Woghin, sentenced to two years. [12]
The old timers who wrote the old a*s code keeping the place running took early retirement. Middle careers like myself f****d off. Everyone else was just new looking for experience or holding on ...