By Jerry W Markham

The writer of the award-winning trilogy A monetary heritage of the U.S. now offers a definitive new reference or the most important mess ups of yankee company governance before everything of the twenty first century. an important source for college kids, lecturers and pros in company finance, and securities legislations, this exhaustive paintings offers in-depth assurance of the cave in of the Enron company and different monetary scandals that erupted within the wake of the industry downturn of 2000. The authoritative quantity strains the industry increase and bust that preceded Enron's cave in, in addition to the aftermath of that failure, together with the Enron financial ruin court cases, the prosecution of Enron officers, and Enron's position within the California strength quandary. It examines the position of the SEC's complete disclosure method in company governance, and the position of accountants in that approach, together with Arthur Andersen LLP, the Enron auditor that used to be destroyed after it was once accused of obstructing justice. the writer chronicles the meltdown within the telecom zone that gave upward thrust to accounting scandals at Nortel, Lucent, Qwest, worldwide Crossing, Adelphia, and WorldCom. He strains different accounting and governance disasters at ceremony reduction, Xerox, machine affiliates, AOL Time Warner, Vivendi, HealthSouth, and Hollinger. Markham additionally covers such Wall highway scandals because the Martha Stewart trial, the monetary analyst conflicts, and the mutual fund buying and selling abuses. He analyzes the Sarbanes-Oxley laws that was once followed based on those scandals, the burdens it imposes, and carrying on with flaws in complete disclosure. Markham additionally lines the notable industry restoration that the scandals and addresses the faulty efforts of company governance reformers that resulted in the abuses.

Show description

Read Online or Download A Financial History of Modern U.s. Corporate Scandals: From Enron to Reform PDF

Best business ethics books

Ethics for CPAs: Meeting Expectations in Challenging Times

Present, finished directions to moral laws for accounting execs A handful of high-profile accounting misdeeds at Enron, WorldCom, Adelphia, etc have left the full accounting career scrambling to say its validity and negotiate a flurry of latest laws.

Accounting and Business Ethics: An Introduction

Regardless of the large influence of various accounting scandals on the accounting occupation, the final malaise among the occupation extra widely, and the numerous legislative and institutional reforms that experience taken position for this reason, there are nonetheless strangely few textbooks on accounting ethics.

An Integral Approach to Development Economics: Islamic Finance in an African Context

Constructing economies comparable to these in sub-Saharan Africa are searching for life like fiscal coverage prescriptions. regardless of financial progress in nations like Nigeria, poverty and unemployment blight the lives of many, in the middle of lots. at the same time, a lot neo-classical financial idea is being wondered opposed to the backdrop of worldwide financial meltdown, giving upward push to inquiry approximately extra essential methods to sustainable improvement.

Spirituality and Sustainability: New Horizons and Exemplary Approaches

This booklet goals to ascertain sustainability and spirituality philosophically with ethics because the balancing strength. The target is to bare the $64000 intersection among sustainability and spirituality through the use of spirituality because the invisible guiding hand within the quest for sustainability. The editors and participants research outdated social and economics dilemmas from a brand new point of view with a view to offer replacement methods to fiscal and social improvement.

Additional info for A Financial History of Modern U.s. Corporate Scandals: From Enron to Reform

Example text

Of Penngrove, California. The SEC sued that company and its president, Jesse Dean Bogdonoff, for fraud. Two individuals were convicted and three acquitted in Florida prosecution involving their sale of viatical contracts for Lifetime Capital, Inc. Bank regulators imposed $20 million in penalties against the New York branch office of the Bank of China as a result of fraudulent loans. , of as much as $1 billion in aggregate. Operating out of New Jersey, the culprits were trading metals using a number of fictitious trading companies.

Investors were told that they could obtain large profits from a worldwide telephone lottery that would use a 900 number for payment. The lottery was falsely claimed to have receipts of $300 million. The company failed to disclose the legal, regulatory, and technical obstacles to this proposal. Internet fraud spread to Latin America. The SEC charged an individual with soliciting funds through the Web for investment in two Costa Rican companies by making false claims that the individual had major distribution contracts with the A&P supermarket chain.

The company failed to disclose the legal, regulatory, and technical obstacles to this proposal. Internet fraud spread to Latin America. The SEC charged an individual with soliciting funds through the Web for investment in two Costa Rican companies by making false claims that the individual had major distribution contracts with the A&P supermarket chain. Another defendant was charged by the SEC with soliciting funds over the Internet for investments that were to be used to finance construction of a proposed ethanol plant in the Dominican Republic.

Download PDF sample

Rated 4.05 of 5 – based on 41 votes