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Topic: Accountancy scandals


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In the News (Fri 11 Dec 09)

  
 Accounting scandals - Wikipedia, the free encyclopedia
There is a general perception that there are other accountancy scandals waiting to be uncovered, which has contributed to the 2002 stock market downturn.
Accounting scandals, or corporate accounting scandals are political and business scandals which arise with the disclosure of misdeeds by trusted executives of large companies and corporations.
In 2005, after a scandal on insurance and mutual funds the year before, AIG is under investigation for accounting fraud.
en.wikipedia.org /wiki/Accountancy_scandals   (531 words)

  
 June 2002 - Wikipedia, the free encyclopedia
Accountancy scandals - Accountants Arthur Andersen convicted of obstruction of justice for shredding documents related to the Enron inquiry.
Accountancy scandals - There are reports of alleged fraud at WorldCom, one of the world's largest telcos and internet service providers.
Accountancy scandals - The U.S. Securities and Exchange Commission has begun fraud action against WorldCom.
en.wikipedia.org /wiki/June_2002   (622 words)

  
 accountancy - Hutchinson encyclopedia article about accountancy
In Britain the different facets of accountancy and the distinction between independent professionals and employed management specialists are reflected in the large number of professional associations of accountants.
Inevitably chartered accountants tend to specialize in auditing and financial accountancy.
All the associations set very high standards for membership, which involves passing an examination for which at least three years' preparation is necessary.
encyclopedia.farlex.com /accountancy   (288 words)

  
 The Institute of Chartered Accountants in Ireland
Accountancy is a global profession with an impressive record of achievement as the leading profession in advising business, and with a commitment to the highest standards of professionalism and integrity.
Neither can the accountancy profession sustain a claim to be the leading professional advisers to business unless it adapts to the changing business environment and changing business needs.
One of the positive outcomes of the merger discussions with CPA was that it crystallised, for both Institutes, the major challenges which lie ahead for the accountancy profession.
www.icai.ie /Publications/lp-Currentdetails.cfm?id=525   (718 words)

  
 August 2002 - Wikipedia, the free encyclopedia
Accountancy scandals: WorldCom announced it had discovered $3.3 billion in false accounting in addition to the $3.8 billion discovered earlier.
A massive explosion in Jalalabad at the maintenance facility of the Afghan Construction and Logistics Unit, a private construction company, kills at least 10 and injures 25, damaging 50 homes and a hydroelectric dam.
The F.C.C. votes to require television manufacturers to include digital tuners in nearly all televisions by 2007.
www.sevenhills.us /project/wikipedia/index.php/August_2002   (1247 words)

  
 Sikka1d
The accountancy bodies are hardly in a position to take any action against any major accountancy firm, since the firms are able to muster considerable economic and political muscle both within and outside the insolvency industry.
The accountancy firms, in their capacity as auditors, collected fees, but did not notice that barrow loads of monies were going walkabout.
Complaints have to be lodged with the accountancy and the law trade associations that were formed to advance the economic interests of their members.
www.sec.gov /rules/proposed/s71300/sikka1d.htm   (20067 words)

  
 ICAEW: Who's in charge now? - Accountancy Age
Accountancy Age has heaped praise on Wyman for his role in keeping the response to the recent accountancy scandals measured.
And, as scandal hit, he assumed the role of champion of UK accountants, whatever their badge, at home and abroad.
It would be no exaggeration to say that, without his counsel to ministers and regulators, UK accountants could now be facing mandatory rotation of audit firms, strict limits on the services they could provide and a vastly diminished global perception of their worth.
www.accountancyage.com /accountancyage/comment/2038813/icaew-charge   (613 words)

  
 Independence Institute
Using scandals at a few publicly-held companies that auditors failed to find or properly disclose as a pretext for the Colorado Board of Accountancy to increase intrusions and witch hunts on average Coloradoans and locally-owned companies without the consent of those whose privacy is invaded is itself a sickening scandal.
The Board of Accountancy is once again complaining that it cannot protect the public in Colorado without having the power to sidestep Colorado's 1929 accountant-client privilege law.
The means to protect investors that the Colorado Board of Accountancy seeks already have been clearly cemented into federal law, without harming the privacy of Colorado citizens and non-publicly-held businesses.
i2i.org /article.aspx?ID=176   (1157 words)

  
 accounting scandals New resources for accounting scandals
Further to the recent accounting scandals in the US, relevant accounting bodies and regulators globally are speeding up the drive to ensure the quality and consistency of financial reporting, and the...
Encyclopedia Entry for accounting scandals of 2002 Dictionary Definition of accounting scandals of 2002 Accounting scandals of 2002 In 2002, a wave of accounting scandals broke in the United States...
Accounting scandals of cendant Accounting scandals have become a regular occurrence in the American business landscape, which will most likely continue throughout the years to come.
www.1st-accounting.info /accountingscandals   (1193 words)

  
 Bob Jensen's Summary:  What Can We Learn From Enron?
But in many ways, subsequent scandals such as the unbelievably bad audit of World.com by Andersen are more revealing of the shoddy and possibly fraudulent audits by Andersen in recent years.
The late 80s and early 90s saw a plethora of financial scandals which drew attention to the role of the auditor in the detection of fraud.
The Enron scandal is being blamed for the fall of Andersen.
www.trinity.edu /rjensen/fraudVirginia.htm   (11070 words)

  
 Socialism Today - The Enron Scandal
(It is unlikely that the document shredding was itemised on the bill.) Like other accountancy firms, Andersen is a big contributor to both the Republicans and the Democrats and has consistently opposed any tightening of accountancy standards.
But it was the many favours they had already granted Enron in return for cash that created the conditions for the scandal in the first place.
The Enron collapse is the biggest scandal in the history of US capitalism.
www.socialismtoday.org /63/enron.html   (3660 words)

  
 BBC NEWS Business UK strives to avoid Enron-style scandals
She said the string of accountancy scandals in the US - involving Enron, WorldCom and Xerox - had frightened investors and made people question the relationship between senior company executives and their auditors.
Ms Hewitt said the US scandals had shown a "much too cosy relationship between finance officers or chief executives and their auditors".
Executive directors in the UK could be stripped of the power to appoint company auditors, in an effort to prevent accounting scandals.
news.bbc.co.uk /1/low/business/2096445.stm   (434 words)

  
 Stock Message Board
The popularity of stock message boards was only added to by the subsequent emergence of a string of accountancy scandals that started to emerge in 2001, with the much publicised Enron and Worldcom scandals dominating both the headlines of financial journals and message boards alike.
The subsequent and unsurprising stock market crash that followed the dotcom bubble equally resulted in the continued growth of stock message boards, as fellow private investors discussed their losses with equally effected and sympathetic investors.
Importantly, the great strides made by software developers in the past 5 years especially, to create ever more dynamic message board software, has certainly increased the functionality of stock message boards and further allowed investors to debate and discuss stock market related issues in greater detail and with greater ease.
www.bigbubbleweb.co.uk /stock_message_board.html   (640 words)

  
 GN Online: Money Wise: Fundamentals not so bad
Next, we had all the accountancy scandals such as Enron, World-Com, etc. These were and are certainly troublesome, but there have always been accountancy scandals where figures of companies have been manipulated by directors, employees and even auditors for either personal gain, protection or pride.
In addition, look at markets whilst they are at the bottom rather than those that have been rising quickly over a period as, according to the laws of gravity, it is likely that anything that goes up quickly will come down twice as fast.
The problem here was the size of the companies and the manipulations.
www.gulf-news.com /Articles/news.asp?ArticleID=86548   (826 words)

  
 SEC chief refuses to step down - LANs - Breaking Business and Technology News at silicon.com
Harvey Pitt, chairman of the Securities and Exchange Commission (SEC), has refused to quit despite coming under fire from US senators for his role in America's recent accountancy scandals.
Pitt previously served as a lawyer to several big accountancy firms, and is said to have had a one-to-one meeting with Xerox CEO Anne Mulcahy last year, despite not being involved in the day-to-day investigation into the company.
Public interest groups have joined with senators from both US parties to campaign for Pitt's resignation, alleging his business contacts with top companies conflict with his role as a financial regulator.
networks.silicon.com /lans/0,39024663,11034567,00.htm   (385 words)

  
 Number Fudgers Warned
US President George W Bush has promised to punish corporate cowboys after a string of accountancy scandals.
www.webprowire.com /summaries/158030.html   (321 words)

  
 Fraud laws to be 'dramatically simplified' - Financial Director
In the wake of current accountancy scandals the Commission said: 'Introducing a single crime of fraud would dramatically simplify the law of fraud.
It said the current law was too complex with too many specific offences that are not understood by juries.
The Law Commission wants to simplify the law on fraud by creating a new 'general offence of fraud'.
financialdirector.co.uk /accountancyage/news/2030524/...   (619 words)

  
 Scotsman.com Business - WorldCom fraud
KPMG was slammed for its role in the WorldCom accounting scandal in the latest report by...
TELECOM giant WorldCom has cleared a major hurdle in its attempt to emerge from bankruptcy after a...
KPMG, the global business services group, has been criticised for the tax advice it gave collapsed...
business.scotsman.com /topics.cfm?tid=446&id=852762002   (309 words)

  
 XML Flattened: The lessons to be learnt from XBRL
In the wake of the accountancy scandals of the past few years, financial authorities around the world are imposing increasingly detailed and stringent reporting requirements on businesses.
A technology designed to act as a medium for such reporting needs to be capable of high degree of semantic precision to ensure that it reflects the appropriate accountancy frameworks without introducing further ambiguity.
For all its fluidity, the world of accountancy and business reporting is also highly regulated.
www.idealliance.org /proceedings/xml04/papers/258/talk.html   (5525 words)

  
 Forbes.com: PCAOB's McDonough offers comfort to EU audit firms
Under a U.S. law designed to win back investor confidence in financial markets after a wave of corporate governance scandals, no accountancy firm will be able to audit a U.S.-listed firm or its units abroad unless they have the PCAOB's blessing.
Non-U.S. accountancy and audit firms have until July 19 to seek approval.
McDonough said more than 50 had already done so and the deadline for the rest was effectively this week.
www.forbes.com /business/newswire/2004/06/02/rtr1392050.html   (725 words)

  
 Converted file jsk
With the sole exception of the war on terrorism, no issue dominates current thought more than the corporate and accountancy ethical scandals which have rocked our country.
Insider trading, overstated corporate earnings, shredded documents, and a host of related issues dominate the national news, business journals, and law reviews.
www.state.in.us /judiciary/opinions/archive/08060208.jsk.html   (4240 words)

  
 Say NO to Bush !!!
- he is a liar, a crook and a criminal, involved in notorious 'creative accountancy' scandals
saynotobush.alternatywa.com /eng/ind_eng.htm   (319 words)

  
 Autodesk Battens Down the Hatches
The combination of September 11th, Enron and continued creative accountancy have placed the stock market in a tailspin.
Autodesk's potential and existing CAD customers are operating in very tight markets and therefore controlling their own expenditures on software and technology.
On the face of things, I'd have to agree with Bartz on today's global financial situation.
www.caddigest.com /subjects/autocad/select/day_adsk_battens.htm   (1535 words)

  
 AABA
Despite scandals accountancy firms rake in profits (16 Nov 2003)
Accountancy firms are the designers, maketeers and engines of tax avoidance (18 Nov 2003)
UK accountancy firms in the Parmalat scandal (24 Dec 2003)
visar.csustan.edu /aaba/auditing2003.html   (5529 words)

  
 Financial News: Managers expect Europe to avoid accountancy scandals.@ HighBeam Research
Financial News: Managers expect Europe to avoid accountancy scandals.@ HighBeam Research
www.highbeam.com /library/doc0.asp?docid=1G1:88412569&refid=ink_tptd_np   (87 words)

  
 scandals - OneLook Dictionary Search
Phrases that include scandals: quiz show scandals, accountancy scandals, accounting scandals, american political scandals, british political scandals, more...
scandals : Cambridge International Dictionary of English [home, info]
Tip: Click on the first link on a line below to go directly to a page where "scandals" is defined.
www.onelook.com /?w=scandals   (87 words)

  
 BBC NEWS Business Congress pushes accounting reform
US legislators' willingness to crack down on accounting scandals faced a major test on Monday as senators debated a bill to crack down on the accountancy business.
Recent corporate scandals demonstrated that self-regulation for the accounting industry did not work, he said, promising his bill would ensure that federal regulators have the power to halt corporate fraud.
On the Republican side, John McCain - the Senator who ran against George W Bush for the presidential nomination and is the most vocal proponent of campaign finance reform - also wants Mr Pitt to go, thanks to his "slow and tepid" response to the scandals.
news.bbc.co.uk /hi/english/business/newsid_2116000/2116587.stm   (87 words)

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