ipl-logo

Bank Bumiputra Malaysia Case Study

968 Words4 Pages

For the scandal case of Bank Bumiputra Malaysia under Lorrain Esme Osman, the Malaysian Corporate Governance had played greater roles and major accountabilities for involving searching warrant for conducting more deep further investigation for monetary scandal with The Carrian Group which was directed under George Tan. This scandal case somehow had raised more public tensions such the bank auditors including Jalil were found dead. From that particular reason, it raised more public awareness and also triggered the awareness from MICG to conduct damage control program by obtaining searching warrant and gaining permission from the court to halt all the assets owned by Lorrain Osman including the assets from his twenty one subsidiaries of his companies. MICG had the universal views similar …show more content…

Other than enforcing The Surbance-Oxley Act, the government could also encourage to curb these unwanted monetary scandals by encouraging both public companies and private companies in Malaysia to be involved in workshop program which is pertinent to Corporate Social Responsibilities (CSR). For example, CIMB Bank which is known as Malaysia Commercial Bank to be listed as top commercial bank to be involve in Corporate Social Responsibilities (CSR) and lead the workshop program for the selected companies to be involved on this program. As the result, more companies regardless of the companies that belong from either public sector or private sector can have more skills and experience in order to develop more social-oriented organizations that could have both capabilities to deliver social mission and achieving profit. When the company could achieve both social adherence as well as profit mission, this will definitely to ensure that the business of the particular company will surely always going concern and to sustain the business as a

Show More
Related

  • Sarbanes Oxley Act Pros And Cons

    578 Words  | 3 Pages

    Due to this reason many of these companies begin to expose financial fraud. The government believed that the impact of these actions was not going to be corrected by the free market economy. Therefore, the government did the necessary to impose legislation and to establish a consistent ethical standard across the country. The major changes of the act can be summarized in the first title of the act with “the creation of the Public Company Accounting Oversight Board, also known as the PCAOB”

    Read More

  • Phar Mor Fraud Case

    735 Words  | 3 Pages

    The president, Vice president of marketing, COO, CFO, controllers, the director of accounts and the audit firm all are carried out this fraud. This fraud was carefully carried out over many years. 1. Motivation: All the types of investors were badly affected through this fraud.

    Read More

  • Case Study: Health Care Fraud

    1963 Words  | 8 Pages

    Committee on the set by the leadership of the hospital as needed which consists of the Medical Committee and the Committee of ethics and the law. The Committee is headed by a Chairperson who is appointed and dipilihm defined by the direction of the hospital. In terms of the formation and changes of the number and type of committees, the Chairman of the hospital needs the approval of the Director-General of Medical Service of community development), Installation (non-structural Service Unit that provides the facilities and organizing activities, education and research hospital). One of the components that are instrumental in the process of implementation of good corporate governance is the audit committee. The Influence of the audit committee in ensuring the quality of financial reporting of the company has become the spotlight since the onset of the accounting scandal became public

    Read More

  • Income Smoothing Case Study

    1491 Words  | 6 Pages

    This proves that throughout the case, Cendant Corporation wasn’t acting fully ethical nor with the desired fiduciary actions to their investors and the auditing team in this case being Ernst&Young. Aside from the trust being broken apart between both, there was never a sign of an internal control inside Cedant. Therefore, there shows that the corporate governance for Cendant Corporation didn’t have signs of existence as well. Most frauds that were occurring before the implementation of the SOX-2002, had top management such as in Cendant that didn’t have care for the ethical performances as much as in today’s corporate world with more regulations in hand by the government. At the end, Cendant had filings against them concerning their corporate governance

    Read More

  • P1 Unit 2 Essay

    1105 Words  | 5 Pages

    Retrieved from http://dx.doi.org/10.1016/j.orgdyn.2015.02.200 Carroll, A. B., & Shabana, K. M. (2010). The Business Case for Corporate Social Responsibility: A Review of Concepts, Research and Practice. International Journal of Management Reviews, 12 (1), 85-105. doi:10.1111/j.1468-2370.2009.00275.x Chan, L. Y. (2014). Corporate Social Responsibility of Multinational Corporations.

    Read More

  • Ethical And Legal Issues Of SNC Lavalin Scandal

    1008 Words  | 5 Pages

    Actions which were taken by the company to cover unethical behavior of bribery and

    Read More

  • The Pros And Cons Of The Enron Scandal

    976 Words  | 4 Pages

    In the past, Lenders and Investors learned from these scandals, and in recent times, they know for a fact, the company is unethical or corrupted and they have become hesitant to invest in any company that they think. Lawmakers and regulators of the Unites States were very worried that the economy of the country would suffer once lost confidence by investors in corporate accounting because of unethical financial reporting. In response, the Sarbanes-Oxley Act passed by the Congress (M Bazerman &Messick D,1996). The main aim of the Sarbanes-Oxley Act is in place to decrease unethical conduct in accounting scandals and corporations. As a result of Sarbanes-Oxley Act, upper management should now certify the truth of financial information.

    Read More

  • Enron Swot Analysis

    1851 Words  | 8 Pages

    To be specific, fraud of the company was on its accounting operations. Management of the company has been developed and put into practice an elaborate scheme to hide certain not only from the public but also from shareholders and investors. This was done in purpose to falsify the real financial position of the corporation. For that purpose company created not one, but thousands of legal persons, mostly offshore companies and partnerships. Although invented scheme seems to be extraordinary difficult to understand, in fact, it is quite simple.

    Read More

  • Toyo Tires Swot Analysis

    9897 Words  | 40 Pages

    This paper therefore seeks to establish what these factors are and how they impact on an organization’s, in this case, Toyo Tyre Malaysia Sdn Bhd, implementation of CSR. It contributes knowledge to the field of CSR. TTM staff will be able to understand the factors that influence the institution’s corporate social responsibility and thus put measures to strengthen its CSR policies and

    Read More

  • Volkswagen's Corporate Social Responsibility

    1858 Words  | 8 Pages

    It is the firm’s obligation to evaluate in its decision-making processes the effects of its decisions on the external social system in a manner that will accomplish social benefits along with the traditional economic gains, which the firm seeks. It means that social responsibility begins where the law ends. A firm is not being socially responsible if it merely complies with the minimum requirements of the law, because this is what any good citizen would do.” A firm will not survive without the support of both the stakeholders and shareholders, thus the CSR proposes the indication which states that a firm can never exist In a vacuum (Khalidah et. al.).

    Read More

  • Cheap Pharma Inc.

    1885 Words  | 8 Pages

    Can CPI sue GM and the directors for selling and buying the shares of stocks? Consider the possibility that CPI was not able to meet its obligations, can GM through Dr Gonzales sue CPI? The lawful and moral issues and the questions rose in this case study is what the author aims to resolve towards the end of this

    Read More

  • Corporate Social Responsibility: Profit-Oriented Or Socially Responsible?

    3408 Words  | 14 Pages

    Trying to ignore the social responsibilities might stain an organization’s image and reputation. Thus, performing social responsibility is not simply a choice; it is a need of any corporation. In the twenty-first century, businesses are in the bottlenecks where globalization, science and technology advancement and integrated knowledge are taking place in today’s society (Chan, n.d.). To gain a foothold in this economy, image and reputation play an important role to differentiate a company from one another. With good reputation, it helps firms to create competitive advantage in the business environment.

    Read More

  • Ethical Reasoning

    1102 Words  | 5 Pages

    1. The writer’s proposition is to introduce the reader to the basic modes of ethical reasoning and induce a basic understanding of what constitutes the basic methods of ethical reasoning. Before forgoing the explanation of two fundamental methods of ethical decision making, the writer shared the “BASF” case study. The case study demonstrated both an economic and moral dilemma regarding polluting a river in which the writer uses to reflect upon two ethical theories; utilitarianism (consequentialism) and deontology. Both theories of ethical reasoning are applicable to practical decisions in concrete situations in which as the reader I cannot disagree.

    Read More

  • The Importance Of Ethical Leadership In The 21st Century

    1427 Words  | 6 Pages

    Managers need to transform into moral leaders: Ethics in business In the 21st century the business organizations have faced many ethical scandals. The different type of ethical scandals are accounting manipulation, bribery, infringement of civil rights, child labour and sexual malpractices at workplace (Frenkel, 2013). Some of the top ethical scandals are Enron, Satyam, Lehman Brothers and Bhopal gas tragedy (Rodriguez, 2013). The business organizations can’t achieve global success without ethical business practices.

    Read More

  • Role Of Corporate Governance In Nestle

    1346 Words  | 6 Pages

    As stated in Principle 1, The Board of Directors directs the Group’s risk assessment, strategic planning, succession planning and financial and operational management to ensure that obligations to shareholders and other stakeholders are understood and met. The board of directors has a collective responsibility for the management of the group to make sure the group is on the way to approach to their objectives while the non-Executive Directors are responsible for bringing independent judgment and scrutiny to decisions taken by the Board of Directors and providing objective challenges to management. Besides, the board of directors also function as formalising and adopting a set of Code of Ethics through the Code of Conduct as Recommendation 1.3 as stated in the Malaysian Code on Corporate Governance 2012 to make sure its compliance, establishing an appropriate set of corporate disclosure policies and procedures and ensuring a whistleblowing mechanism is in place. The Board of Directors recognizes the importance of independence and objectivity in its decision making process. The Directors are professionals of high calibre and integrity and possess in-depth knowledge and experience of the business to enable them to discharge their duties effectively.

    Read More

More about Bank Bumiputra Malaysia Case Study

Open Document