The discussion topic is financial scandals. At the most basic level, Enron, Worldcom, and other scandals were the result of the manipulation of financial reporting. What can be done to prevent these problems from happening again? Have you ever heard of or experienced any of these problems in your own career? What would you do if you did, and your manager told you to look the other way?© BrainMass Inc. brainmass.com July 17, 2018, 8:00 am ad1c9bdddf
There have been several steps implemented post-2000s scandals that have been somewhat successful. The Sarbanes-Oxley Act (SOX) has been implemented, and with any regulations, there are certain costs. In this case, the cost of compliance to SOX has been so extreme that many companies have actually taken their stock off the market to become private companies. While many things can be done, this illustrates the fact that there are typically costs associated with any form of compliance. The line then must be drawn over the level of protection for investors and the public ...
This solution thoroughly discusses financial scandals. Professional examples are also included.