Issue In this case, there are four issues from w... ... middle of paper ... ...ccounting staff apparently never recorded appropriate reserves for those sales returns. The plaintiffs charged that PwC must have known about Campbell’s bogus sales, but the judge rejected this complaint. The reason was that PwC’s role as Campbell’s auditor is insufficient to permit an inference that PwC knew of these allegedly deceptive practice. Summary In addition to learning these four improper practices, as a plaintiff, if he or she intends to file a legal action against audit firms, evidences to charge them have to be sufficient. PwC’s auditors might be reckless, but they were not added as defendants.
WASHINGTON (CNN/Money) - The government hammered away at Microsoft Corp. chairman Bill Gates in court Tuesday, attempting to portray him as an unreliable witness. And at one point Gates offered to alter his sworn testimony, landing a solid blow against Microsoft's position. The courts have found that Microsoft violated antitrust laws. The current hearings, under U.S. District Judge Colleen Kollar-Kotelly, will decide what restrictions will be imposed on Microsoft as a remedy for that illegal behavior. Gates has repeatedly complained that the remedies under consideration would be technically impossible to comply with or would force Microsoft to withdraw its Windows operating system from the market and force widespread layoffs at the company.
The purpose of this case report is to identify the legal and ethical issues in the Martha Stewart case study. I will discuss these issues, compare Ms. Stewart’s actions against the ethical theories, draw conclusions to the lessons learned, and make recommendations to limit future outcomes. This case study is not about Ms. Stewart direct participation with illegal insider trading as the media had steered the public to believe. To begin, Ms. Stewart received a phone call from Ann Armstrong, her assistant, stating that Peter Bacanovic, her stockbroker, “thinks ImClone is going to start trading down.” (Arnold, Beauchamp, Bowie, 2013, p. 390) Although Ms. Stewart was not able to get a hold of Peter, she talked to his assistance, Douglas Faneuil,
McDonald, Allyn was suing her attorney, McDonald, for legal malpractice due to McDonald’s alleged failure to timely file a personal injury claim. Allyn v. McDonald, 910 P.2d 263, 266 (Nev. 1996). The court initially granted summary judgement on behalf of McDonald since Allyn failed to bring an expert witness to show the breach of duty. Id. It was then established that “although expert evidence is generally required in legal malpractice to establish attorney’s breach of care, exception exists in cases where breach of care or lack thereof is so obvious that it may be determined by court as a matter of law.
Companies use profiling systems to discriminate customers with bad reputation, even if the person is innocent. Chapter five in Privacy Lost starts the third part of the book. It focuses on the protection of privacy through the lens of legal structure. In this chapter Holtzman argues that laws can’t keep up with technology advances. Before starting to discuss the connection between privacy and law, Holtzman perfectly states that the word “privacy” hasn’t been used in the U.S. Constitution.
But the means by which they achieved this status became questionable and eventually contributed to their demise. Enron used what if often referred to as “creative” accounting methods, this resulted in them posting record breaking earnings. Anderson, who earned substantial audit and consultation fees from Enron, failed to comply with the auditing standards required in their line of work. Investigations and reports have resulted in finger pointing and placing blame, but both companies contributed to one of the most notorious accounting scandals in history. There remains much speculation as to what steps could and should have been taken to protect innocent victims and numerous investors from experiencing the enormous loses that resulted from this scandal.
They were underreporting line costs by capitalizing the cost on the balance sheet rather than properly expensing them, and inflating revenues with bogus accounting entries from “corporate unallocated revenue accounts.” Exodus 23:1 says, “Do not spread false reports. Do not help a wicked man by being a malicious witness.” These people obviously did not abide by the Bible and what it says. They were trying to take the easy way out and once again it backfired. In 2002, President George Bush signed the Sarbanes-Oxley Act into law. This legislation was created in response to the high profile Enron and WorldCom financial scandals to protect shareholders and the general public from accounting errors and fraudulent practice in the enterprise.
One of significant reason that gives raise of this issue is a ‘moral hazard’ played a primary motivation in banks and top brass during the US and the global financial crisis. As a result of this issue provides a collapse of large companies and banks which leads to the financial crisis. Moreover, the author does not explain any financial crimes which should be addressed as a main factor such as tax evasion plays significant role in the global financial system. It is because of tax evasion is a product of financial crime and that lead to a result of financial crisis. Further, the author does not provide any information in a form of the financial regulation and financial organizations which should be explained as a main idea in the financial crisis.
He states, “The major problem on the Watergate is simply to clean the thing up by having whoever was responsible admit what happened. Certainly I am satisfied that nobody in the White House had any knowledge or approved any such activity…” (Memoirs 646) The supporting argument is that Nixon made awful choices, but that should not change the people’s opinion of government. Nixon supporters were disgraced and his opponents just shook their heads. His supporters trusted him to do the right things, but in the end he just hurt them. While this was a mayor issue in history the American people should not look at this one bad apple.
However, at least one source told the Associated Press that such a three sector Microsoft is not planned. Rather, Page 2 according to the source, the government wants to force the creation of a series of smaller, duplicate companies, nicknamed "Baby Bills," that would compete against each other. Breaking up Microsoft into smaller companies would be "stupid because it just creates confusion in the marketplace," said Michael Cusumano, a professor at the Massachusetts Institute of Technology who has written about Microsoft's battle with the former Netscape Communications Corp. "The break-up sounds like a mess to me," he said. The market responded because Microsoft shares closed down 3-9/16 at 105-13/16 on Wednesday. In November, U.S. District Court Judge Thomas Penfield Jackson agreed with federal prosecutors in a preliminary finding that Microsoft stifled innovation in the computer industry.