Rogue Trader Assignment

The Libor Scandal began in the year of 2012. In 2003, a major outbreak investigation started due to reliable banks being a prime source of manipulation of interest rate, affecting many in the benefit of

Training: Both managers as well as employees will need to complete a series of training courses to ensure that everyone is well versed in company policy, as well as have knowledge of what to do in case of an event such as the current crisis at the Roanoke branch. One such course would be on the importance of communication between employees and superiors. All employees will learn when it is necessary to hire additional help, when they really need to speak up, and that human resources is here to help and they should not be shy when they need guidance. It is important for all team members to be knowledgeable about the company and policy. Employees will be scheduled for two meetings a week – on days that best fit their schedule – for four weeks, followed by an evaluation to see if the course material was thorough. If more training is necessary, it will be rescheduled accordingly.

Applicants – Require a clear induction policy and training plan taking their individual needs into account.

In addition, training should also be tailored to specific positions in the company and employees roles. Management may need additional training to help deal with employee issues, while someone in purchasing may need more training on gifting policies and someone in finance needs to understand the company’s position on fraud.

man admit him at the kitchen door at dusk one evening. And that was the last we saw of

How much reliance should Enron’s corporate BOD have placed on the Andersen in understanding the company’s accounting decisions and policies?

* Implement a timetable of training sessions available and a method of communication to staff, by the end of March

Arthur Andersen (AA) contributed to the Enron disaster when it has failed to the management by failing to have Enron establish and enforce its own internal control. There has been flaws to AA‘s internal control. There has been assumption that AA partners were too motivated by revenue recognition thus, overlooking several criteria when providing their services to Enron. Additionally, AA also recognised the retention of audit clients as vital and a loss of any clients would be disadvantaged to an auditor’s career. In AA internal control, the person who is able to make most of the decisions is the person who is most concerned about the revenue or losses of the client’s company.

In 2005, NIC was dissatisfied with a decision the independent audit firm made to replace an engagement Partner. Although, nearly complete with the Audit, the new Partner was not willing to rely on the finding of the previous Partner, which prolonged the audit (Weirich). Deloitte had been NIC auditor since 1908 and the business community was shocked to learn of the termination of their relationship. After 98 years as their accountants Navistar filed a lawsuit against Deloitte for 500 million dollars for allegations of malpractice that caused the manufacturing company to revise its financial statements. According to law360, “Navistar claimed that Deloitte accountants misrepresented them between the years of 2002

Facts: Provide a brief overview of key events (How was the time allocated? Offers: opening-offer and counter-offer, as well as progression of offers? How was information exchanged? Were there pivotal turning points?)

Applicants – Require a clear induction policy and training plan taking their individual needs into account.

stood accused of in a series of scandals that nally came to a head in the largest bankruptcy

Secondly, the organized training program should include some important parts such as plant operations, communication between managers and the union workers, teamwork, and management education. All the employees from foremen to managers should join the training program. After the organized training program, there must be a refresher training course every half or one year to make sure employees’ knowledge is the latest. In the process of training program, Ashley needs to collect feedback from the foremen and supervisors so that she

* On the job training is the primary method for employees to learn policies and procedures.

How many times can you go double or nothing before you wind up a billion pounds in debt? In “Rogue Trader”, a film based on the life on Nick Leeson, we get a glimpse into this real world dilemma. The drama begins with Leeson’s promotion to general manager of Barings Futures Singapore. As general manager, he faces a personal quandary and must decide whether to cover for a friend and coworker who made an honest mistake (one that resulted in the loss of a substantial amount of money) or to turn the same person in to face termination. Leeson chooses loyalty to his friend over loyalty to the bank, and covers up the losses by creating an error account. This account served to hide said losses while Leeson tried to make back the