Essay about A Recent Us Securities And Exchange Commission

Essay about A Recent Us Securities And Exchange Commission

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A recent US Securities and Exchange Commission (SEC) report states that accounting-related fraud cases of allegations, lawsuits and charges increased sharply over the past year, (Sheridan 2015). According to the Association of Certified Fraud Examiners ' (ACFE) Global Fraud Study, “the typical organization loses a median of 5% of revenues each year due to fraud. On a global scale, this translates to losses of approximately $3.7 trillion”. This study explains the impact of employee and employer fraud revenue loss due to indirect costs that are related a low employee morale, decreased productivity, ruined reputations and tarnished brand images, (Austin, 2014).
For the purpose of writing this assignment, I have been reviewing at least five top business financial scandals that reported in recent months. I was truly shocked to discover some of the facts that I learned and the level of business scandal practices that exist in our society. It is sad to say that several political, humanitarian and faith based leaders or organizations are some of the majority financial scandal players. I was really having a hard time which business scandal to choose from until I read your comments on my Saturday post regarding Mr. Donald Trump. Although, I have heard some media driven information about the Clinton Foundation, I really had no basic knowledge about this foundation. So for the sake of knowledge and hoping this opportunity might help me with the voting dilemma for the 2016 presidential election, I am inspired to learn more about the Clinton Foundation.
The Clinton Foundation is a nonprofit organization that formed in 1997 by a former President of the United States Bill under section 501(c) (3) of the U.S tax-exempt category. The Internal Re...

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...lack of financial transparency, and its violation of tax code, involvement and practice. Few of my major frustrations that I deal toward such circumstance: the wrong doings/practices are not unintentional occurrences, but contacted by well gorgonized individuals and group who are part of our policymakers, and I do not understand as why business regulations and tax guidance that exist in the system unable to make such individuals and organizations accountable. It is morally and ethically wrong that our so called leaders set an example for our nation and abuse their power by taking advantage of the people who them to lead the nation. They are not only destroying trust of the people who they to serve and outreach, but they are damaging the public image of our country, as well compromising the security and financial stability outlook both nationally and internationally.

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