disciplines are generally unwelcome and/or are treated with skepticism. Even the ideas of some researchers from the fields of economics and finance such as Hart (1995) and Tirole (2001) who promote alternate solutions to corporate governance beyond agency theory are ignored or overlooked. As a result, business ethics and corporate governance topics often are introduced in apro forma, compulsory fashion that may
Words: 7223 - Pages: 29
Draft - Corporate Governance Considerations This material was prepared by Eliot H. Sherman – July 2005 FOCUS Learning Objectives By the end of this chapter, you should be able to: Understand the issues related to agency and delegated responsibility. Describe the similarities and the differences in the corporate scandals that have been identified in the past few years Identify the responsibilities of managers to the shareholders and other stakeholders associated with their corporations. OVERVIEW
Words: 7269 - Pages: 30
THE NATION’S NEWSPAPER BS2003-01a Collegiate Case Study Enron law firm called accounting practices 'creative' By Greg Farrell www.usatodaycollege.com Accounting fraud Part I: The problems “Creative accounting” is not a new technique, but it can certainly be a costly one. Businesses feel the pressure to appear profitable in order to attract investors and resources, but deceptive or fraudulent accounting practices often lead to drastic consequences. Are these so-called creative practices
Words: 7153 - Pages: 29
17 | b. Dhanuka Committee | 18 | a. It lays down the framework for creating long-term trust between companies & the external provides of capital | 19 | d. He has to ensure that his work involves exercise of judgment. | 20 | b. Stewardship Theory | Section B: Short Notes | Question | Answer | 11(continued)1(continued) | Clause 49The term ‘Clause 49’ refers to clause number 49 of the Listing Agreement between a company and the Stock Exchanges on which it is listed. The Listing Agreement
Words: 4860 - Pages: 20
the corner-stones in auditing theory. Despite prior research on auditor independence, the results are inconclusive. The lack of research in the Hong Kong ´ˆ auditing environment motivates this study, particularly following the Enron debacle. The purpose of this paper is to examine the non-audit services (NASs), competition, rank and types of auditors, in respect of the independence problem as it relates to the practices of Hong Kong auditors in the post-Enron environment. Design/methodology/approach
Words: 8546 - Pages: 35
FOR THE FIFTH CIRCUIT No. 08–1394. Argued March 1, 2010—Decided June 24, 2010 Founded in 1985, Enron Corporation grew from its headquarters in Houston, Texas, into the seventh highest-revenue-grossing company in America. Petitioner Jeffrey Skilling, a longtime Enron officer, was Enron’s chief executive officer from February until August 2001, when he resigned. Less than four months later, Enron crashed into bankruptcy, and its stock plummeted in value. After an investigation uncovered an
Words: 40397 - Pages: 162
more about themselves and will learn more about the connection between the individual and the organization. Other topics include organizational culture, structure, group behavior, motivation, power, politics, organizational change, and workplace conflict. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: University policies: You must be logged into the student website to view this document
Words: 2157 - Pages: 9
and regulator communities (Farber 2005; Ferrell and Ferrell 2011). Scandals at Enron, WorldCom, Xerox, Quest, Tyco, HealthSouth, and other companies created a loss of confidence in the integrity of the American business (Carson 2003) and even caused the accounting profession in the United States to reevaluate and reestablish basic accounting procedures (Apostolon and Crumbley 2005). In response to the Enron scandal, the American Institute of Certified Public Accountants issued the following
Words: 8383 - Pages: 34
Ethics - Ethics Imagine a 15 year old student in philosophy class. After discussing why should you or shouldn't you judge other societies, and getting in depth with ethics, the teacher decides to tell a story to the class. She says"..there is a tribe in the Amazon(Brazil) were they show love and respect by cutting body parts.It would be a good sign if your father cuts a finger of a son...." she then asked the class ".... if you end up in the Amazon, would you stop a father cutting a sons finger because
Words: 5724 - Pages: 23
SCOPE OF GOVERNANCE A. Meaning of corporate governance According to Sir Adrian Cadbury, “Corporate Governance is the system by which companies are directed and controlled. The corporate governance framework is there to encourage the efficient use of resources and equally to require accountability for the stewardship of those resources. The aim is to align as nearly as possible the interests of individuals, corporations and society. Corporate governance is therefore about what the board of a company
Words: 13667 - Pages: 55
