AC 504 Unit 1 Assignment Paper 1, 2 and 3

AC 504 Unit 1 Assignment Paper 1, 2 and 3

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Given strong profit growth, has there been any damage to’s reputation?

What would future reputational damage affect, and how could it be measured?

What steps could take to restore its reputation, and what challenges will it have to overcome?

In some cultures, a “culture of secrecy” or manipulation of the news is tolerated more than others. How can this be remedied by other governments, corporations, investors, and members of the public?

Describe the mechanisms that World-Com’s management used to transfer profit from other time periods to inflate the current period.

Why did Arthur Andersen go along with each of these mechanisms?

How should WorldCom’s board of directors have prevented the manipulations that management used?

Bernie Ebbers was not an accountant, so he needed the cooperation of accountants to make his manipulations work. Why did WorldCom’s accountants go along?

Why would a board of directors approve giving its Chair and CEO loans of over $408 million?

How can a board ensure that whistleblowers will come forward to tell them about questionable activities?

Locate an article of your choice from a reputable source (journal, periodical, newspaper) that documents ethical violations within a firm that include violations of accounting standards. The article can be no more than 5 years old and cannot be on a firm or scandal featured in your text.

You are to provide a 2-page summary of the events, in APA format, and include a citation for the article.

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