Management Accountability And Corporate Responsibility

One of the failures of Enron that allowed the fraud to occur in early 2000s was management accountability or corporate responsibility. Rockness says the main cause of the corporate ethical conduct is the tone at the top, signing officers, cited by several professional sources such as American Institute of Certified Public Accountants (AICPA) and Committee of Sponsoring Organizations of the Treadway Commission (COSO). Prior to SOX, signing officers were not held responsible to anyone as long as the company showed stock increase justified by earning’s growth. Enron’s signing officers had a persuasive story to back up the increase in earnings and whoever questioned those numbers was viewed as being stupid. Hence when the time came for the†¦show more content†¦Mendez, CEO, whose role was to report and certify correct financial statements, free from all material misstatements, violated the SOX section 302 of corporate responsibility and the several laws of SECs. Men dez paid $5 million to settle the SEC’s charges, forfeited and returned $4 million bonuses that he received during the company’s fraudulent reporting period. Neil, CFO, was the one who directed an effort to manipulate the cost of walnuts and misled the Diamond’s independent auditors by providing wrong and incomplete information to justify the unusual accounting treatment for the payments. He personally profited from the fraud by receiving cash bonuses and other compensation based on the company’s reported Earnings per Share (EPS) for fiscal quarters in 2010 and 2011. When the fraud was uncovered, Diamond’s stock price dropped from $90 to $17 per share in 2011. Neil paid $125,000 in civil monetary penalties, forfeited a legal claim against Diamond’s for nearly $1 million worth stock options and shares of stock that he received during the fraudulent reporting period, and was barred from practicing as an accountant for 5 years. Point Three: Tit le IV Section 404 Managers must assess and auditors must attest to the effectiveness of its internal controls over financial reporting. SOX addresses the issue of management assessment of internal controls. This section requires both independent auditor and management opinion regarding the effectiveness of

The Dreamland Battle Miss Saigon, Representation And...

The Dreamland Battle: Miss Saigon, Representation and Opportunity On March 23, 2017, Miss Saigon, one of the most beloved and most protested musical, returned to New York at the Broadway Theatre, the same venue the show debuted and played for 10 years from 1991 to 2001. Both productions moved from West End to Broadway, creating numerous casting opportunities for Asian-American actors in New York, where Asian productions are rarely produced. The last Asian Broadway production, Allegiance, ended its run February 2016, starring Lea Salonga, the first Asian actor to win a Tony Award for her groundbreaking performance as Kim in Miss Saigon in 1991 — twenty-six years ago. Not until 2015 had Ruthie Ann Miles won a Tony for The King and I and†¦show more content†¦When the show was announced to move to Broadway, the yellowface was strongly protested by the Asian-American community. The show’s critic initiated the protest, saying that the production had created â€Å"an unwelcome view of Asians.† However, Pryce was so greatly praised by the West End audience, who seemed not to be bothered at all about his yellowface, that the producer was not willing to give in, claiming Pryce is the star of the show, as one of the British stage’s most admired actors. The yellowface performance was not even considered to be abandoned until the Actors’ Equity refused to approve Pryce’s Visa â€Å"as they cannot condone the casting of a Caucasian actor in the role of [an] Eurasian† that was going to destroy the fabric of the country. This angered the producer who even threatened with a cancelation on the Broadway production. It took a turn when Equity backed down and rescinded its decision and Pryce brought his â€Å"The American Dream† to New York and won a Tony Award for his brilliant performance — the yellowface was later removed. The audience was mesmerized by the glorious music and stagecraft as nobody had seen a helicopter landing on Broadway. The audience also discovered that, Jonathan Pryce was not the only one dictating the spotlight: Lea Salonga, who came form Philippine, was the rising star. Salonga, with her magnificent

The art of dirty deeds Free Essays

English Coursework Robert Hoarsely Another cupboard smashed onto the heavy oak table as the maelstrom of debris continued to swirl, fuelled by the vicious wind from the broken windows. There was a resounding crack as a chair was hurled at the table. â€Å"You left me to rot, you are no son of mine,† wailed the lady of the house. We will write a custom essay sample on The art of dirty deeds or any similar topic only for you Order Now He couldn’t see her, she was invisible, but he knew all too well she was there as he cowered under the table. The rain continued to pound down, its staccato beat all too loud through the broken windows. Lightning flashed as he made a break for the door that was banging against the wall in the mind. An Inhuman shriek came from behind him. He raced through the door as the table he had been taking refuge hurtled after him into the doorway in a shower of plaster and splinters. The main hallway he was now in was dominated by a huge glittering chandelier. He paused for a moment to catch his breath as he heard his mother howling in rage. With a groan the chandelier above him ripped away from the ceiling. It fell onto him with a crash, landing In an explosion of glittering glass like a frenzied rave of fireflies. He had barely enough time to think as It knocked him cold. As he flitted in and out of consciousness he remembered how he came to be in that current predicament. Don’t go daddy,† said his daughter. â€Å"We want you to be here for Christmas daddy,† whined his son. â€Å"Of course I’ll be back for Christmas; I’m Just off for a week to get granny’s old stuff from her house in the Yorkshire Dales. It’ll only be a week you know that and Ill tell you what, Ill bring extra Christmas presents. â€Å"Do be careful Mr. Jerome,† said the nursemaid as she ushered the children onto the pavement. â€Å"l will,† Mr. Jerome said as the children chorused goodbyes , he climbed into the carriage and with a flick of the driver’s reins the arraign picked up speed down the misty London street. He vaguely remembered the train Jo urney as the inky blackness swept past, punctuated by lights of villages. He Intended to collect family heirlooms and other valuables to distribute to his family back In London. The dark looming mass of the house had dwarfed him as he had stepped off the carriage. Its Imposing bulk seemed to swallow all living things through its gloomy shaded windows and solid looking front door. It was big enough to take a week to go through all the rooms to get what he needed, then sort them. Lang resounded throughout his head as the huge chandelier was savagely picked up and hurled Into the solid wooden front doors. Then there was a deafening silence In the house. The rain continued to beat down outside and the wind ripped at the garden but the house was silent once more. Rubbing his head, he climbed the grand staircase, still wary of the ghost of his mother. He made his way to the study where there were three traveling trunks, two of which were full of the valuables and the other was to be filled with Important documents. There was the distinctive tang of smoke but his thoughts were on other things. The door handle felt unusually warm as he opened leaping flames that had already consumed his traveling trunks and was taking hold of the rest of the room in a fiery, swirling inferno. Coughing from the swirling smoke he stumbled into the hallway. It was spreading rapidly, too fast to be any normal fire. His mother, he thought, she was burning down the house, the house he had been brought up in, the house she had lived in for over 60 years. As he watched, smoke streamed out of other rooms in tendrils and the smell of smoke was overpowering. He was trapped; he was going to be burned alive, scorched and screaming in this twisted, sick house. How to cite The art of dirty deeds, Papers