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Essay / Research Paper Abstract
This 6 page paper looks at the problems of corporate governance the start of the 21st century and assesses which of these issues may be relevant to the fictitious company McBride Financial Services and then discusses the way corporate governance rating may be useful. The bibliography cites 5 sources.
Page Count:
6 pages (~225 words per page)
File: TS14_TEMcBcorpg.rtf
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Unformatted sample text from the term paper:
has in the markets. The corporate governance issues that were observed may be seen as not only limited to the firms that were part of the scandals, but could potentially
be applied to many other firms. By examining some of the causes and of the scandals it is possible to assess their potential for emerging at other firms such as
McBride and then consider the way that tools such as cooperate governance rating maybe used and the value that they provide. There were many scandals; Enron, WorldCom and Parmalat
were some. Looking at Enron there are many failings that may be seen as potentially applicable to many organisations including McBride. When
looking at the collapse of Enron it started with a statement that between 1997 and 2000 there had been an over statement of $569 million and that these years
accounts were unreliable and escalated from here. The general feeling is was that the cause of the failure was greed and a lack of integrity (Leone, 2002). However, if this
is to be cited the greed and lack of integrity is not limited to the Enron boardroom. The fault must also lie in an accounting system that made many of
the concealments that took place legal, or at least borderline, and the attitudes of those who set the rules and audits the accounts. When looking at the failure of Enron
it is these accounting standards that appear to fail. It is interesting to note that the US has a rules (rather than principles) based approach, the Enron accounts may were
actually compiled in strict compliance with the US rules, with very few exceptions (Jones, 2002). It is worth noting that no audit may prevent a company from failing, nor will
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