Recent Accounting Scandals

fiscal Reporting Ethics\n\nAdelphia\n1. pot Rigas, early(a) Rigas family members, Michael Mulcahey\n2. Adelphia backed off-the-book loans for the Rigas family totaling 3.1 trillion dollars. The political representativey as well as overstate earnings and purchased luxury items for the Rigas family.\n3. Companies be supposed to serve the strivingholders interests and not the founders interests. The Rigas family lawlessly used the property and the resources of the company for their protest gain.\n4. Money was stolen from the trading and the simple eye worth go away and was taken off the charts.\n5. The Rigas family treasured to use the company resources for their own gain and were helped by throng in the company.\n6. Shareholders had money stolen from them and woolly-headed money when the stock price fell.\n\nArthur Anderson\n1. David B. Duncan\n2. Signed off on Enrons untimely account and then shredded think documents after the SEC launched an investigation into Enr ons accounting.\n3. An auditor must(prenominal) sprightliness at a companies financial statements objectively. It is also sinful to destroy information that is part of an investigation.\n4. Arthur Anderson and Enron went come in of business.\n5. Anderson knew if they confronted Enron about their faulty accounting they would lose their account.\n6. Arthur Anderson went out of business and their employees had to find jobs elsewhere. Owners of stock in Enron and Arthur Anderson lost money.\n\nEnron\n1. chief executive officer Kenneth Lay, CFO Andrew Fastow\n2. noble-minded simoleons with off-the-books partnerships. Illegally manipulated the energy markets in Texas and California.\n3. Enron fraudulently made it see that they were making more money than they really were. They also coerce energy prices up employ questionable and in several(prenominal) cases illegal methods.\n4. Enron filed the largest bankruptcy in history and took their auditor, Arthur Anderson mint with th em. Their wrinkle brought the stock market down and brought the accounting practices of many other companies under scrutiny.\n5. trouble cute to increase profits and Enrons stock price development any and every method available.\n6. Employees lost their life savings in 401k plans. All stockholders lost money.\n\n\n orbiculate traverse\n1. Ex-CEO Robert Annunziata\n2. Inflated revenue by swapping cyberspace capacity with other providers. Provided additional payment to management.\n3. Swapping contracts made it appear like Global Crossing was doing more business than they actually were. Their CEO contract was also criticized by many for crowing too much compensation to the CEO, this may have been a result of a leave out of proper corporate governance.\n4. Global Crossing went out of business.\n5. Management wanted the company to look more attractive to investors.\n6. Stockholders and employees.\n\nHealthSouth\n1. professorship and CEO Richard Scrushy, CFO William T. Owens\ n2. magnified earnings by 1.4 meg dollars.\n3. Not adhering to GAAP, fraud.\n4. Company stock price...If you want to get a full essay, order it on our website:

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