[DOWNLOAD] "Accounting Student Perceptions of Ethical Behavior: Insight Into Future Accounting Professionals (Report)" by Academy of Educational Leadership Journal " eBook PDF Kindle ePub Free
eBook details
- Title: Accounting Student Perceptions of Ethical Behavior: Insight Into Future Accounting Professionals (Report)
- Author : Academy of Educational Leadership Journal
- Release Date : January 01, 2010
- Genre: Education,Books,Professional & Technical,
- Pages : * pages
- Size : 220 KB
Description
INTRODUCTION The Public Accounting Reform and Investor Protection Act of 2002, better known as the Sarbanes-Oxley (SOX) Act, was developed in response to corporate scandals such as those involving Enron, Tyco International, and WorldCom. WorldCom's earnings management techniques overstated income by hiding bad debt, understating expenses, and backdating contracts. Tyco International executives sold company stock without proper reporting to the United States Securities and Exchange Commission (SEC), gave unapproved bonuses to buy silence within the organization, and gave themselves interest-free or low interest loans for personal use. Enron executives made false statements to banks and auditors and participated in insider trading, bribery, irregular accounting practices, bank fraud, securities fraud, wire fraud, money laundering, and conspiracy. These three scandals ended in bankruptcy and caused significant financial loss to employees and investors.