Accounting Since Enron
In recent years we have been inundated with news of corporations under investigation because of questionable accounting practices. In the worst case scenarios, companies such as Enron have gone bankrupt and ceased to exist because of lack of oversight and controls. Greedy high-level executives have lived a lavish life-style at the expense of millions of shareholders. Thousands of employees have lost their life savings and livelihood. This type of creative accounting practices opened the door for legislation in the form of the Sarbanes-Oxley Act which was signed into law on July 30, 2002. The New York Stock Exchange (NYSE), NASDAQ, and the American Stock Exchange (AMEX) have followed suit with regulatory proposals of their own that go above and beyond the requirements of the Act. Today audit committees are playing an increasingly key role in the oversight and governance of business institutions all over the world
Year of publication: |
2010
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Authors: | Cuebas, Maria S. |
Publisher: |
[2010]: [S.l.] : SSRN |
Subject: | Wirtschaftsprüfung | Financial audit | Wirtschaftskriminalität | Economic crime | Rechnungswesen | Accounting | Insolvenz | Insolvency | Buchführung | Bookkeeping | Wirtschaftsgeschichte | Economic history |
Saved in:
freely available
Extent: | 1 Online-Ressource (9 p) |
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Type of publication: | Book / Working Paper |
Language: | English |
Notes: | Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments April 25, 2010 erstellt |
Other identifiers: | 10.2139/ssrn.1650637 [DOI] |
Classification: | M41 - Accounting |
Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10013139789
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