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    Communication - Resignation

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    2. Individual Assignment: PR Communication Memo

    The company with which you are currently employed is experiencing a financial crisis. The Chief Financial Officer (CFO) has suddenly resigned and no one is discussing the reasons why. The U.S. Securities and Exchange Commission (SEC) is investigating your company's accounting practices and from the documents they have requested, the issue seems to concern revenue recognition. Rumors are beginning to circulate that suggest inappropriate behavior on the part of your company. The organization is a publicly traded company, and as such, the company is required to issue a public notice concerning the sudden vacancy of the CFO. As a Certified Public Accountant (CPA) on the team drafting the notice, you are involved in communicating the current situation to the general public.

    Write a press release. You may conduct research to find examples of public notices of this same nature. Use these examples to determine how you will format your press release. Use appropriate letterhead and format to make it look like a genuine press release.

    Then write an accompanying internal memo to your manager that includes the following:

    o Outline what your company is legally required to do.
    o Explain the value of the public communication in this situation.
    o Examine the balance between calming external stakeholders and the ethical considerations of providing all the information that is required by the SEC.
    o How the perception of the press release will affect public opinion
    o Make sure you put both these Microsoft Word® formatted assignments in one document.

    Internal Memo:
    Outlines what the company is legally required to do
    Explains the value of the public communication in this situation
    Examines the balance between calming external stakeholders and the ethical considerations of providing all the information that is required by the SEC
    Discusses how the perception of the press release will affect public opinion
    Press Release:
    Follows typical press release format
    Presents positive but truthful summary of situtation that will calm fears of external stakeholders

    · Paragraph transitions are present, logical, and maintain the flow throughout.
    · The tone is appropriate to the content and assignment.
    · Sentences are complete, clear, and concise.
    · Sentences are well constructed, strong, and varied.
    · Sentence transitions are present and maintain the flow of thought.
    · The paper, including the title page, reference page, tables, and appendixes, follows APA formatting guidelines.
    · Citations of original works within the body of the paper follow APA guidelines.
    · The memo is laid out with effective use of headings, font styles, and white space, as appropriate.
    · Rules of grammar, usage, and punctuation are followed.
    · Spelling is correct.

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    Solution Preview

    You will need to ensure that you formatting is in accordance with you required guidelines. Furthermore, I am not sure of company name. Therefore, I placed the same in ( ) for you to complete.

    (Company Name) Chief Financial Officer Resigns Effective June 10, 2010

    (City/State) - June 10, 2010 - (Company Name), announced today that (name of CFO), the company's Chief Financial Officer, has resigned effective June 10, 2010. The company has begun a CFO search.

    (Name of CFO) joined (Company Name) in 2003 as Executive Vice President and Chief Financial Officer. Since (Name of CFO) joined (Company Name), the company has strengthened its operating model and balance sheet significantly.

    (Company Name) a wonderful company with a strong future, said ("Interim CFO" name). "I intend to help facilitate an orderly transition process over the coming months."

    (Company Name), the (Company Name) logo, and (Company Name) are trademarks or registered trademarks of (Trademark Name) and/or its subsidiaries in the United States and in other countries.

    Notice of Annual General Meeting:

    The Company today announces that it has posted to shareholders and holders ...

    Solution Summary

    This solution provides an example of a Press release that a company would issue when a CFO resigns.