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- READ THE ARTICLE BELOW AND ANSWER THE QUESTIONS THAT FOLLOW:Ernst & Young to Pay $100 Million Penalty for Employees Cheating on CPA EthicsExams and Misleading InvestigationLargest Penalty Ever Imposed by SEC Against an Audit FirmWashington D.C., June 28, 2022The Securities and Exchange Commission today charged Ernst & Young LLP (EY) for cheatingby its audit professionals on exams required to obtain and maintain Certified Public Accountant(CPA) licenses, and for withholding evidence of this misconduct from the SEC’s EnforcementDivision during the Division’s investigation of the matter. EY admits the facts underlying theSEC’s charges and agrees to pay a $100 million penalty and undertake extensive remedialmeasures to fix the firm’s ethical issues.“This action involves breaches of trust by gatekeepers within the gatekeeper entrusted to auditmany of our Nation’s public companies. It’s simply outrageous that the very professionalsresponsible for catching cheating by clients cheated…READ THE ARTICLE BELOW AND ANSWER THE QUESTIONS THAT FOLLOW:Ernst & Young to Pay $100 Million Penalty for Employees Cheating on CPA EthicsExams and Misleading InvestigationLargest Penalty Ever Imposed by SEC Against an Audit FirmWashington D.C., June 28, 2022The Securities and Exchange Commission today charged Ernst & Young LLP (EY) for cheatingby its audit professionals on exams required to obtain and maintain Certified Public Accountant(CPA) licenses, and for withholding evidence of this misconduct from the SEC’s EnforcementDivision during the Division’s investigation of the matter. EY admits the facts underlying theSEC’s charges and agrees to pay a $100 million penalty and undertake extensive remedialmeasures to fix the firm’s ethical issues.“This action involves breaches of trust by gatekeepers within the gatekeeper entrusted to auditmany of our Nation’s public companies. It’s simply outrageous that the very professionalsresponsible for catching cheating by clients cheated…Wells Fargo The Wells Fargo recent crisis over mismanaging customer relationships, fraudulently implementing illegal and unethical sales practices with trusted clients, has cost the company in fines, lost business, and the resignation of the CEO. The following online sources offer a narrative and factual source of what happened, when, to whom, and why. 4. How were the illegal and fraudulent activities discovered? 5. Who was to blame? 6. What unethical activities occurred before the illegal actions took place? 7. What would you have done, if anything, had you been one of the sales professionals pressured to engage in unethical, illegal practices there? 8. How would a stakeholder approach, if taken by the company’s top leaders and board of directors, have possibly prevented the crisis?
- Describe the difference between Non-Renewable and Renewable resources using specific examples to illustrate both. In MDCs, government policy seeks to increase the use of renewable energy, but some non-renewables, such as Lithium, are still important to the global economy. Describe and discuss the distribution of non-renewable strategic minerals and explain why they are ‘Strategic’. Why are these minerals so important when the world is aiming to minimize the use of non-renewables? Use TWO examples to illustrate your answer. (Chapter 12)Is it proper for PETA to pressure KFC for change when the company is following the law and public custom? Does PETA represent so compelling a truth or enough people to justify attacks on, and perhaps damage to, major corporations supported by and supporting millions of customers, employees, and stockholders?Thompson & Zakaria (2004) addressed that 209 out of 257 companies in Malaysia have made some form of CSR disclosure. Required: Based on the above, justify and explain FOUR (4) reasons of some companies for NOT reporting the CSR.
- A relation to this caseA. Develop a risk management programme appropriate for this case (see attached risk management template) B. Explain how compliance to this risk management programme can prevent the credit risk management issue(s) experienced by Washington Mutual. C. Discuss the importance of an internal risk assessment and auditing process in relation to this caseCOVID-19 started as a health crisis, which quickly evolved into a global economic crisis at a speed and magnitude we have not seen in our lifetime. The ripple effects are still unfolding on a global scale and it is unlikely that the true impact of this pandemic can be measured until the situation stabilizes. But once we come out of this challenging and uncertain time, how will we recover? Will we go back to business as usual, or will we see enduring changes at the individual, organizational and government levels? Investigate the effects of COVID-19 on consumer behaviour and the implications of this disruption for marketing strategies and policies.Malek is a CEO of a successful company who is incline to help the society in SYRIA. He created Corporate Social Responsibility Department (CSRD) to distribute the company’s profit to buy food for the underprivileged. He recently realises that creating CSV is much more beneficial to CSR. a) How does Corporate Shared Value (CSV) bring more benefits to the business, society and the environment compared to Corporate Social Responsibility (CSR)? b) Instead of providing food, how does Malek creates CSV to build supportive industry for advancing social and economic conditions in Syrian communities towards future sustainability?
- Mylan's Epipen from 2007 to 2016 How did certain laws and regulations make it possible for Mylan to increase the price of Epipen (consider both intellectual property laws and FDA regulations)? What were the results of the price increase, in terms of new competition from other companies producing epinephrine delivery products? Do these results (change in quantity produced, change in prices, availability of options) have any bearing on the ethics of Mylan's price increase?4. The major purpose of environmental management accounting is to enable managers to: A. improve profitability by reducing environmental costs. B. be informed about the environmental impacts of the organisation's activities. establish both financial and non-financial measures of performance. improve environmental performance by monitoring management's efficiency in relationship to environmenta D. 5. The following is a list of the five tiers of environmental costs. Which of them are described as 'private costs'? 1. Conventional ii. Hidden iii. Contingent iv. Relationship and image v. Societal A. B. i and ii i, ii and iii C. i, ii, iii and iv D. All of the given answers1. Is the corporate governance framework of PSBI effective: What operational policies did its major players adopt properiv? Wat operational systems appeared deficient? 2. Discuss the OECD principle on corporate disclosure and transparency. What elements of this principle did the Bank violate? With adequately implemented and accurate disclosure and transparency policies, would the Bank still have suffered such a tragic end? Could the players have forestalled that end? 3. Were the actions and decisions of the Board in accordance with OECD's principle on board responsibilities? What areas were inadequately covered? What lessons can be learned from these inadequacies?