Unethical pr twistices and demeanour argon common in like a shots world. There be variations of situations known as wrong practices and behavior in the history world. Misleading financial entropy for personal gain, understating expenses, and mis practice of coin argon common wrong practices and behavior. Other uncommon practices and behavior are kickbacks and manipulation. It is important to clear unethical practices and behavior and how to clutches these situations as they arise. Enron Corporation had a substantial impact on how unethical practices and behavior are dealt with in todays business world. The Enron s jackpotdal is considered to be one of the most infamous within American level (Finance Laws, 2011). Enron Corporation reported sustainable financial stability by the use of accounting pseudo rumors, bribery, and irregular accounting procedures. It was not until Enron Corporations meshwork and revenues from controlled limited partnerships were revealed that t he Enron scandal plummeted. Enron Corporations debts and losings were not reported on the financial statements. Enron Corporation misrepresented earnings, manufactured fraudulent efficacy crisis, and embezzled. The Sarbanes-Oxley Act of 2002 was created to stop corporations, much(prenominal) as Enron from misrepresenting financial data.
The Sarbanes-Oxley Act 2002 was created to withstand accounting in the corporate business world more(prenominal) transparent. It is under this act that the Financial Accounting Standards Board mandates corporations to use Generally veritable Accounting Principles when report ing to shareholders. The rules that Sarbanes! -Oxley Act 2002 created are enforced by the Securities and Exchange Commission. If these rules are not followed crook prosecution can be enforced. Corporations financial statements are held to govern accountability with midland controls and procedures that corporate executive officers and corporate financial officers must dumbfound to. The Sarbanes-Oxley Act of 2002 requires...If you want to get a full essay, vagabond it on our website: OrderCustomPaper.com
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