Olympus Case Study
In this paper, I replied to the case study questions by referring the reading material given and from other online source. And answered each questions seperately in detail. 1. What are the characteristics of an effective board of director? Evaluate Olympus board during the period when the accounting fraud was perpetuated against these characteristics. Seven Characteristics of an effective Board Directors ("Seven characteristics of an effective board", 2015): There is no one model or structure for the board of director, however different corporation uses different types of models that suits their business. The following are the core characteristics of an effective board of directors: a. Mission Centered: an effective board member is clear …show more content…
And all the issues escalated will end up on his hand and his teams. • The working culture of Olympus imposed negative influence on the employee that they cannot blow a whistle on their leaders. Yes, the newly introduced external help line which is headed independently by an institution who has no vested interest in Olympus, along with the three external committees will contribute a significant change in supporting and guiding the board pertains to compliance issues. Though, its time taking to recover the reputation of Olympus and to get the system in the right track. 4. Discuss the role played by the external and internal auditors in the scandal. Could they have done a better job, and if so, how? The former KPMG auditors had been struggling to get a clear picture about acquisition of Gyrus and Axam, and due to the complexity and vast nature of the transaction along with falsifying and incomplete documents, they could not paly their professional role. Finally, they were out of the game and replaced by the Ernst & Young. Where in, the same issue has been revolving since
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