Arthur Andersen Essays

Up until a number of years ago, Arthur Andersen was considered as one of the then Big 5 auditing companies around the world. The company knew its beginning in 1913 through Arthur E. Andersen who formed a partnership with Clarence M. Delaney in order to set up Andersen, Delaney & Co. Unfortunately, however, the partners split 5 years later and the company’s name became exclusively Arthur Andersen. Mr. Andersen died in 1947; however, his successor Leonard Spacek led the company to successful periods

Today, Arthur Andersen & Co. is notoriously known for its’ unethical behavior of collusion with Enron, leading to thousands of hard working Americans losing millions of dollars. This type of behavior shows how far Arthur Andersen & Co. has strayed from its original foundation of honesty and integrity, instilled in it by the founder and senior partner Arthur E. Andersen. Originally named Arthur, DeLany & Co. in 1913 then soon changed to Arthur Andersen & Co., Andersen sought to challenge the status

Arthur Andersen’s Fall Arthur Andersen – Arthur Andersen was one of the Big Five accounting firms along with PWC, EY, KPMG and Deloitte providing auditing and consulting to corporations. It was founded on 1st December, 1913 by a Norwegian Arthur Andersen and Clarence DeLany as Andersen DeLany & Co. The firm changed name to Arthur Andersen & Co. in 1918. Arthur Andersen always maintained high standards and ethics in the accounting industry, especially till the death of Mr.Andersen. In 1914, Mr.Andersen

Arthur Andersen was an accounting firm founded by Arthur Andersen in 1918. The company eventually grew to be one of the Big 5 accounting firms. Arthur Andersen gained Enron as a client in 1986, where it provided external and internal auditing, as well as consulting services. “A chief auditor of Andersen Accounting named David Duncan, who was assigned to hand AA’s Enron account, turned a blind eye to all these accounting manipulations” (Cantoria, 2011). Arthur Andersen was aware of the

consolidating these special purpose entities. As a result, Enron’s balance sheet understated its liabilities and overstated its equity and its earnings” (Healy and Palepu, 2003, p. 11). This scandal also led to the downfall of the accounting firm Arthur Andersen due to Enron executives pressuring the firm to ignore issues during their audits and the firm shredding

Background WorldCom, once known as one of the most powerful telecommunication organizations of the world, is now studied as a case of a fraudulent company that carried out unethical financial activities to cover its weakening position in the market. After some aggressive investment decisions, the company started to witness huge financial pressure. The management used various forged accounting entries to conceal its weakening position. Cynthia Cooper, Vice President Internal Audit, discovered the

Argument 1 1. Analyze the organizational culture and values of the Hyatt hotel and link them to executive’s actions in leadership position. A. In what way does the organizational culture, values and style agree or disagree with the action executives/leaders take or not take to avoid an escalation of the case? In every organization there must be the composition invisible culture takes place within such organization. Each organization is unique from each other that because each culture is an aggregate

Q1: what were the individual factors that have contributed to the failure of Enron? The first individual factor that contributed to the failure of Enron is the greed of the leadership. The video shows that many leaders have corruption. For example, Lou Pai has fled from Enron Energy Service with a gain of $250 million in order to marry his stripper girlfriend and his corruption caused a loss of about $1 billion (Fredy 2015). Louis Borget and Andy Fastow siphoned off $3 million and $45 million respectively

Step One: Identify and define the problem • Wells Fargo, one of the largest banks in the United States was recently fined $185 million because of a widespread scheme that employees created to collect fees and hit sales targets. These employees opened up over 1.5 million deposit accounts that were reported to be not authorized by customers. This scheme has been going on since 2011 without any acknowledgment until recently when customers were being charged with overdraft fees and insufficient funds

Before the Sarbane-Oxley Act of 2002 came into effect in the American economy, most investors and shareholders were left in the dark – most often at the mercy of big corporations whose accounting practices were largely unregulated. The act was a response to the infamous scandal of Enron, WorldCom, Tyco, and Adelphia – all of whom had unethical business practices that caused their shareholders to lose the astronomical amount of investment when their scandals made headlines. The Sarbane-Oxley Act (SOX)

Day-lee Foods Embezzlement case Who? Yasuyoshi Kato 40 years old Chief financial officer of Day-Lee Foods (Large Japanese meat packing company) Company based in Santa Fe Springs, California To explain all of this money, he would say that he was the inventor of Nintendo Biggest case of embezzlement in U.S. history (up to 1997) His identity is now protected impossible to find pictures of him online What is day-lee foods, inc Subsidiary of Nippon Meat Packers of Osaka5 The mother company

M7A1 Case Analysis: Enron’s Ethics Policies Gary Pace Excelsior College Business Ethics BUS323 Professor Pao INTRODUCTION/SITUATIONAL ANALYSIS The object of this case analysis examined the ethics program of the Eron Corporation. The case analysis examines the Enron’s organizational culture that led to multiple counts of security fraud and its bankruptcy, in December 2011. Although, there are many contributing factors to the demise of the gas company, the major factor was its unethical

Executive Summary Lehman Brothers were an investment bank involved in transactions worth billions of dollars and one of the most powerful investment banks in the world. Lehman Brothers collapsed in 2008 following bad investment in the sub-prime mortgage market and used bad accounting practices called Repo 105 transactions to try and cover up the bad assets. This report sets out the use of the fraud triangle when describing the actions which led to the collapse. The pressure applied on the bank

Indian Coal Mining Controversy which is also known as Coalgate Scandal. Coal mining controversy is a political controversy highlighting the nation’s irregularities in the matter of handling national coal deposits. Another scam in a history of Indian, Coal mining controversy is major fraud in 2012, which involved Rs 1, 86, 000 Cr losses to exchequer. This is serious allegation against Prime Minister of India Dr Manmohan Singh who is in a serious scrutiny of the CAG which leads to protest against

Introduction The Volkswagen (VW) emission scandal is not an isolated case in recent history wherein a global company faced a gargantuan problem that is almost next to impossible to resolve. British Petroleum paid a whopping $20 billion settlement five years after the 2010 Deepwater Horizon oil spill in the Gulf of Mexico. (Griffin, et. al., 2015) Unfortunately, the Volkswagen scandal did irreparable damage to Germany's brand compared with British Petroleum or any other “trade scandal” because the

On January 17, Wells Fargo had a huge billing glitch that messed with many people’s accounts. Wells Fargo is a financial services company headquartered in San Francisco. Wells Fargo double-charged an unknown number of customers due to a technical error. The glitch reportedly affects customers registered to pay their bills automatically online. Wells Fargo promised that they would refund any related fees or charges to their customers who received the glitch. Many of the people affected were voicing

Bernie Banton worked as a lathe operator, shaping blocks of asbestos for use in power stations and making asbestos pipe sections in his early career at the Camellia plant of Australian building products giant James Hardie & Co Pty Ltd. When it was revealed of the dangers asbestos caused to humans and the fact that James Hardie new of the dangers compelled Banton to become a campaigner for the right of workers to receive compensation from James Hardie. Bernie was diagnosed with asbestosis in 1999

I. Issue- Will Kesler be liable to repay City Rental restitution for the pilfered funds he received from Bauer? II. Rule: A holder in due course states that anyone who takes an instrument for value in good faith absent any notice that it is overdue, has been dishonored, or is subject to any defense against it or claims to it by any other person. III. Application of Facts- In 2008, City Rentals discovered former employee Bauer embezzled hundreds of thousands of dollars from the company. Bauer was

Wells Fargo’s “Gutless Leadership” Wells Fargo is one of the largest banks in the United States, with “…more than 8,600 locations [and] 13,000 ATMs” (Wells Fargo Today). Millions of Americans trust them with their finances. However, after a federal investigation, Wells Fargo has admitted to opening up to two million accounts without customers’ permission. While this had financial implications for many customers, this scandal most heavily affected Wells Fargo’s low-level employees. Sales employees

Question 1 Ashley Alford vs Aaron’s Inc Ashley Alford was in 2011-awarded $ 95 million after winning a sexual harassment case against Aaron Inc. The award that Alford received included $ 80 million for punitive damages and $ 15 million in compensation. In the federal court, Aaron’s Inc a rent to own organization was found liable for the abuse that Alford suffered as she worked at Fairview Heights. The sexual harassment case culminated from Richard Moore, a store manager having lifted Alford, flung