1913 from the Very Beginning of the Firm, Arthur Andersen Insists That All
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The Greatest Business Decisions of All Time: How Apple, Ford, IBM, Zappos, and Others Made Radical Choices That Changed the Cour
The Greatest BUSINESS DECISIONS of All Time HOW APPLE, FORD, IBM, ZAPPOS, AND OTHERS MADE RADICAL CHOICES THAT CHANGED THE COURSE OF BUSINESS. By Verne Harnish and the Editors of Fortune Foreword by Jim Collins . ACKNOWLEDGMENTS When you delve into the great decisions chronicled in these pages, you’ll find that in most instances it was the people involved that really mattered. The same holds true for producing this book. First, we want to thank Fortune managing editor Andy Serwer, who, displaying the vision and entrepreneurial spirit we’ve long admired him for, green-lighted this project in the same meeting in which we pitched it and then provided support all along the way. Fortune art director Emily Kehe, working with Time Inc.’s talented Anne-Michelle Gallero, applied their usual elegant sense of style to the design. Carol Gwinn, our copyeditor par excellence, used her superb language skills to save ourselves from ourselves. Steve Koepp and Joy Butts at Time Home Entertainment Inc., the book’s publisher, worked creatively behind the scenes to make this project a reality, and for that we’re truly grateful. And we extend our thanks and admiration to Jim Collins for providing such an insightful foreword to the book. Last, a big bow to the writers and editors on Fortune’s staff who used their in-depth knowledge of business and their nonpareil writing skills to make this book what I hope you’ll find to be a wonderful, informative read. TO DECISION-MAKERS WHO KEEP MAKING THE TOUGH CALLS . TABLE OF CONTENTS Foreword BY JIM COLLINS Introduction By VERNE HARNISH Chapter 1 Apple Brings Back Steve Jobs By ADAM LASHINSKY Chapter 2 How Free Shipping Saved Zappos By JENNIFER REINGOLD Chapter 3 Why Samsung Lets Its Stars Goof Off BY NICHOLAS VARCHAVER Chapter 4 At Johnson & Johnson, the Shareholder Comes Last BY TIMOTHY K. -
GAO-08-163 Audits of Public Companies
United States Government Accountability Office Report to Congressional Addressees GAO January 2008 AUDITS OF PUBLIC COMPANIES Continued Concentration in Audit Market for Large Public Companies Does Not Call for Immediate Action GAO-08-163 January 2008 AUDITS OF PUBLIC COMPANIES Accountability Integrity Reliability Continued Concentration in Audit Market for Large Highlights Public Companies Does Not Call for Immediate Action Highlights of GAO-08-163, a report to congressional addressees Why GAO Did This Study What GAO Found GAO has prepared this report While the small public company audit market is much less concentrated, the under the Comptroller General’s four largest accounting firms continue to audit almost all large public authority as part of a continued companies. According to GAO’s survey, 82 percent of large public effort to assist Congress in companies—the Fortune 1000—saw their choice of auditor as limited to three reviewing concentration in the or fewer firms, and about 60 percent viewed competition in their audit market market for public company audits. as insufficient. Most small public companies reported being satisfied with the The small number of large auditor choices available to them. international accounting firms performing audits of almost all large public companies raises Percentage of Companies Audited by Four Largest Accounting Firms, by Company Size Percentage interest in potential effects on (Number of companies) 98%98% competition and the choices 100 95% 92% available to large companies 90% needing an auditor. This report 80 71% examines (1) concentration in the 60 market for public company audits, 44% (2) the potential for smaller 40 22% accounting firms’ growth to ease 20 market concentration, and (3) (1,606) (794) (1,190) (907) (498) (516) (1,211) (1,513) 0 proposals that have been offered 2002 2006 2002 2006 2002 2006 2002 2006 by others for easing concentration <$100 million $100 million - >$500 million - >$1 billion and the barriers facing smaller $500 million $1 billion firms in expanding their market Company revenue shares. -
World Trusts Us
Albaraka Türk Sustainability Report 2020 World TTrustsrusts Us Contents 10 KEY SUSTAINABILITY INDICATORS 12 ALBARAKA TÜRK AT A GLANCE 12 Al Baraka Banking Group (ABG) in Brief 14 Albaraka Türk in Brief 16 Albaraka Türk’s Sustainability Journey 18 Shareholding Structure AAlbarakalbaraka TTürkürk is a bank building its entire business momodeldel 19 Our Mission and Vision 20 Our Quality Policy, Core Corporate Values and Strategic Objectives in accordance with sussustainabilitytainability and working for this 22 Operational Map 24 Our Awards purppurpose.ose. 26 MESSAGE FROM THE MANAGEMENT 26 Message from the Chairman 28 Message from the General Manager WWee ccarryarry out aallll our opoperationserations by ttakingaking intintoo account an 30 Message from the Chairman of the Sustainability Committee environmenvironmentalental impacimpactt and trustrustt approach. WeWe consider 32 OUR SUSTAINABILITY ORGANIZATION 32 Al Baraka Goals (2016-2020) the sosocial,cial, environmenvironmentalental and eeconomicconomic vavalueslues we have 34 Strategic Sustainability Areas 36 Sustainability and Social Responsibility Principles within the frframeworkamework of trustrustt and we aim ttoo pass these 37 Principles of Donations and Contributions 38 Our Sustainability Organization vavalueslues on ttoo future genergenerations.ations. 39 Our Committees 40 OUR SUSTAINABILITY ACTIVITIES 40 Our Corporate Governance Approach WWithinithin the scopscopee of sussustainabilitytainability efforefforts,ts, we continue 64 Our Financial Capital 68 Our Manufactured Capital ttoo ttakeake impimportantortant sstepsteps ttoo sosolvelve various worldwide 70 Our Human Capital 80 Our Intellectual Capital probproblemslems such as globagloball warmingwarming,, ccarbonarbon emission and 84 Our Natural Capital 90 Our Social and Relational Capital wawaterter probproblems,lems, and we continue ttoo rereceiveceive the ppositiveositive 94 LOOKING TO THE FUTURE resulresultsts of these ssteps.teps. -
Conspiracy of Fools”
Submitted version of review published in GARP Risk Review Review of “Conspiracy of Fools” Joe Pimbley Kurt Eichenwald’s Conspiracy of Fools (Broadway Books, 2005) is a spellbinding account of the rise and fall of Enron. In nearly 700 pages the reader finds answers to “what happened?” and “how did it happen?” Based on retrospective interviews with more than a hundred primary and secondary actors in this drama, the author creates multiple, parallel story lines. He jumps back and forth between these sub-plots in a manner that maintains energy and gives the reader many natural stopping points. The great strengths of Conspiracy are that it’s thorough, extremely well- written, captivating, and, finally, it rings true. The author avoids the easy, simple conclusions that all the executives are “guilty” of crimes or plain greed and that the media-lionized whistle-blower is pure of heart. We see the ultimate outcome as personal tragedies for Jeff Skilling (President) and Ken Lay (CEO) even though they are undeniably culpable. Culpability and guilt are not synonymous, however, and different readers will have widely different judgments to render on these two men. The view of Andrew Fastow is not so murky. He and a handful of his associates did indeed lie, cheat, and steal for personal gain. Fastow’s principle “contribution” to Enron was the creation of structured finance transactions to skirt accounting rules. This one-sentence description doesn’t tell the reader much. Eichenwald gives many examples to flesh out the concept. The story of “Alpine Investors” provides the simplest case. The company wished to sell the Zond Corporation, a wind-farm operator, prior to the closing of Enron’s purchase of Portland General. -
Arthur Andersen Center for Financial Reporting Research Workshop
Arthur Andersen Center for Financial Reporting Research Workshop Friday, February 14, 2020 11:00 a.m. – 12:30 p.m. 4151 Grainger Hall The Effect of Financial Reporting for Restructuring on Firm Choice of Divestiture Form Diana Weng Doctoral Candidate University of Florida FACULTY Ph.D. STUDENTS W. Choi T. Ahn M. Covaleski J. Ariel-Rohr F. Gaertner I. Baek E. Griffith A. Carlson S. Laplante D. Christensen T. Linsmeier Z. King D. Lynch M. Liang E. Matsumura B. Osswald B. Mayhew C. Partridge T. Thomas L. Rousseau D. Wangerin D. Samuel T. Warfield M. Vernon J. Wild K. Walker K. Zehms E. Wheeler The Effect of Financial Reporting for Restructuring on Firm Choice of Divestiture Form Diana Lynn Weng Fisher School of Accounting Warrington College of Business University of Florida Gainesville, FL 32611 Office phone: (352) 273-0227 February 2020 ** Do not quote without the author’s permission ** I thank my dissertation committee members Bobby Carnes, Marcus Kirk, Mike Ryngaert, and Jenny Tucker (chair) for guidance; Elia Ferracuti, Jennifer Glenn, Patrick Kielty, Jeffery Piao, and Mark Zakota for comments; and Jonathan Urbine for his assistance with the SEC filings. The Effect of Financial Reporting for Restructuring on Firm Choice of Divestiture Form ABSTRACT I examine whether financial reporting for restructuring influences managers’ choice of divestiture form. Firms have three major divestiture form options: a firm can sell a unit to another firm in a sell-off; sell a percentage of shares in a unit to new shareholders in an equity carve-out; or separate a unit and pro-ratably distribute the new unit’s shares to existing shareholders in a spin-off. -
Here People Can Belong When They Travel by Being Connected to Local Cultures and Having Unique Travel Experiences
... for the implementation of sound, long-term tax policies that promote the global competitiveness of the U.S. high technology industry. Background The Silicon Valley Tax Directors Group is composed of representatives from leading high-technology companies with corporate offices predominantly located in the area between San Francisco and San Jose, California (widely known as the “Silicon Valley”). The group was formed in 1981 with current members representing the following companies: Organization Representative Autodesk SVTDG Co-Chair: Kirsten Nordlof; VP, Tax, Treasury, Risk and Procurement Cisco Systems, Inc. SVTDG Co-Chair: Robert F. Johnson; Sr. VP, Global Tax and Customs Dolby Laboratories, Inc. SVTDG Co-Chair: Grace L. Chu; Vice President, Tax and Treasurer Accenture N. James Shachoy; Senior Managing Director, Global Tax Activision Blizzard, Inc. Alex Biegert; Senior Vice President, Tax Advanced Micro Devices, Inc. Steven Kurt Johnson; Senior Director, Head of Tax Agilent Technologies, Inc. Stephen A. Bonovich; Vice President, Tax Airbnb, Inc. Mirei Yasumatsu; Global Head of Tax Amazon, Inc. Kurt Lamp; Vice President | Global Tax Analog Devices Tom Cribben; Global Tax Director Ancestry.com Edward R. Gwynn; Vice President of Tax Apple Inc. Phillip Bullock; Senior Director of Taxes Applied Materials Steven K. Shee; Vice President - Tax Aptiv, PLC Tim Seitz; Vice President Tax, Trade & Government Affairs Arista Networks Inc Jennifer A. Raney; Head Of Global Tax & Treasury Atlassian Anthony J. Maggiore; Global Head of Tax Bio-Rad Laboratories Kris L. Fisher; Vice President, Global Tax BMC Software, Inc. Matt Howell; Vice President, Global Tax Broadcom Limited Ivy Pong; Vice President, Global Taxation Cadence Design Systems, Inc. -
AUSTRALIAN ACCOUNTING HALL of FAME 12Th Annual Awards Ceremony 3 March 2021
AUSTRALIAN ACCOUNTING HALL OF FAME 12th Annual Awards Ceremony 3 March 2021 2021 Annual Dinner & Awards Ceremony a Centre for Accounting and Industry Partnerships Welcome On Wednesday 3rd March 2021, we honour some of Australia’s most distinguished accounting practitioners and academics who have been adjudged to have made a significant contribution to accounting, past or present. Each of the inductees exemplify the profound wealth of accounting expertise that exists in Australia and around the world. These individuals have shaped, and continue to shape, the profession with their remarkable achievements inspiring generations of like-minded accounting practitioners and academics. Brad Potter Stewart Leech Kevin Stevenson Directors, Centre for Accounting & Industry Partnerships 2021 Annual Dinner & Awards Ceremony 1 MAJOR SPONSORS The Centre for Accounting & Industry Partnerships extends its warmest appreciation and thanks to the major sponsors of the 2021 Australian Accounting Hall of Fame Dinner and Awards Ceremony for their support and assistance. CPA Australia is Australia’s leading professional accounting body and one of the largest in the world. They have more than 168,000 members in over 100 countries and regions, supported by 19 offices globally. Their core services include education, training, technical support and advocacy. CPA Australia provides thought leadership on local, national and international issues affecting the accounting profession and public interest. They engage with governments, regulators and industries to advocate policies that stimulate sustainable economic growth and have positive business and public outcomes. CPA Australia’s members are distinguished by their degree qualifications and the additional education they undertake post-graduation. The skills and qualifications acquired through higher education are integral for a successful career grounded in accounting. -
Read Book Conspiracy of Fools: a True Story
CONSPIRACY OF FOOLS: A TRUE STORY PDF, EPUB, EBOOK Kurt Eichenwald | 746 pages | 15 Jan 2006 | Random House USA Inc | 9780767911795 | English | New York, United States Conspiracy of Fools - Kurt Eichenwald You can trust the others. You're at a Fortune 50 company, so don't sweat the small stuff. Just don't make me look bad. This book is soon to be made into a movie starring Leonardo DiCaprio. View all 4 comments. In it, Eichenwald does a decent job of combining the best of the three others, as if he poached some from each. Conspiracy reads as a novel, combining facts and details with presumably fictional conversations. The sometimes outrageous discussions between characters left me feeling that Eichenwald embellished a little too much, and at Conspiracy of Fools is the fourth Enron-related tale I've read Smartest Guys in the Room, Enron: The Rise and Fall, and Anatomy of Greed being the other three. He often leaves out the nitty gritty details best described by Smartest Guys in the Room, and relies too much on dramatics, like in Anatomy of Greed. And unlike Smartest Guys by far the most well written and complete chronicle of the rise and fall of Enron , Eichenwald has a definite bent to his story, almost insisting that Andrew Fastow was entirely to blame, while painting Jeff Skilling as a basket case whose emotional baggage blinded him to any wrongdoing, and Ken Lay as a social and political juggernaut with blinders on. Other former Enron executives, like Richard Causey and Rick Buy, take far too little blame for their roles in the special purpose entities that ultimately drove Enron under. -
The Irrational Auditor and Irrational Liability
LCB_10_1_PRITCHARD.DOC 3/17/2006 3:54:52 PM THE IRRATIONAL AUDITOR AND IRRATIONAL LIABILITY by A.C. Pritchard* This Article argues that less liability for auditors in certain areas might encourage more accurate and useful financial statements, or at least equally accurate statements at a lower cost. Audit quality is promoted by three incentives: reputation, regulation, and litigation. When we take reputation and regulation into account, exposing auditors to potentially massive liability may undermine the effectiveness of reputation and regulation, thereby diminishing integrity of audited financial statements. The relation of litigation to the other incentives that promote audit quality has become more important in light of the sea change that occurred in the regulation of the auditing profession with the adoption of the Sarbanes-Oxley Act. Given these fundamental changes in the regulatory backdrop, I argue that the marginal benefit of litigation has been substantially diminished and in many cases that it is likely to be ineffective in promoting greater audit quality. I propose a knowledge standard for auditor liability in securities fraud cases. I. THE ECONOMICS OF AUDITING ..........................................................23 A. The Value of Auditing..........................................................................23 B. Assessing the Quality of Auditing........................................................25 II. THE SARBANES-OXLEY ACT AND THE REGULATION OF AUDITORS.................................................................................................28 -
The Procurement & Performance of Audits of Government
-- 7 I -4 >I u - yT*--+- The.pn>cLre;nent & * 1 Performance Of Audits Of Government Organizations & Programs I1111ll lIlll111111111111111116289 lllll11111111 Report of Colloquium held in Cherry Hill, New Jersey November 56, and 'Z 1980 .. , This colloquium was designed to explore the views of WAS and government officials on means for improving their relationships on audits of government organizations and programs. It was conducted under the joint sponsorship of the American Institute of Certified Public Accountants (AICPA) and the U.S. General Accounting Office (GAO). The views expressed in this document do not represent an official position of the AICPA or the GAO. Colloquium Organization Committee and Discussion Group Leaders, Co-Leaders, and Secretaries AICPA Subcommittee on Relations with the GAO Edward J. Haller, Jr. Chairman - Price Waterhouse & Co. James S. Dwight, Jr. - Deloitte, Haskins ti Sells Fernando D. Fernandez - Sanson, Kline, Jacomino & Company Frank A. Gibson - Gibson, Johnson & Company William M. Hall - Arthur Andersen & Company Thomas R. Hanley - Touche Ross & Company David Neuman - Peat, Marwick, Mitchell & Co. Bert W. Smith, Jr. - Bert W-. Smith, Jr. &Associates Charles Taylor - University of -Mississtppi Donald L. Scantlebury - Director John L. Adair - Deputy Associate Director George L. Egan - Associate Director Robert Raspen - Systems Evaluator AICPA Staff Joseph F. Moraglio Terri S. Meidlinger Discussion Group Leaders John J. Adair - U.S. General Accounting Office George L. Egan - U.S. General Accounting Office Thomas R. Hanley - Touche Ross & Co. J. Curt Mingle - Clifton, Gunderson & Co. David Neuman - Peat, Marwick, Mitchel & Co. Frank S. Sat0 - Inspector General, Transportation and VA Cornelius E. Tierney - Georgetown University Discussion Group Co-Leaders Charles A. -
October 22, 2018 8:30 – 9:45 A.M
Sunday | October 21, 2018 1:00 p.m. – 5:00 p.m. Workshop 1: Win-Win Conversations: Transforming Conflict Into Collaboration Margie Bastolla, CIA, CRMA Principal Margie Bastolla Facilitations, LLC It’s a fact. Conflict is a part of life. Your attitude toward conflict will determine your success during difficult conversations at work and whether you achieve favorable results. Win-win conversations require that we learn why conversations fail, as well as proven methods to ensure that even our most difficult conversations have a high chance of success. In this session, participants will: • Identify key skills that underpin successful conversations and negotiations. • Discuss eight conflict triggers and five methods for managing them. • Learn how collaboration can be particularly effective when the stakes are high. • Discuss activities that lead to ongoing collaboration and trust throughout the audit. Margie Bastolla is a professional trainer and speaker who provides customized, onsite training for internal auditors on both technical and soft skill topics. She has worked in over 40 countries, conducting hundreds of seminars, workshops, and conference sessions for corporations, government entities, U.N. agencies, and IIA chapters and institutes. Bastolla draws on 30 years of leadership experience in internal auditing, international relations, association management, and public accounting. Previously, she was an executive with The IIA’s global headquarters and an auditor with Worthen Banking Corporation and Deloitte. Monday | October 22, 2018 8:30 – 9:45 a.m. General Session 1: Security in a Connected World Marc Goodman Global Security Strategist Author of Future Crimes Chair for Policy, Law, and Ethics, Silicon Valley’s Singularity University A huge proponent of technology, Marc Goodman knows that the positive aspects of the Internet are manifest. -
Institute on Accounting
PROCEEDINGS OF THE TWENTY-FOURTH ANNUAL Institute on Accounting Held at TH E OHIO UNION TH E OHI O STATE UNIVERSITY CAMPUS MAY 17 AND 18, 1962 Sfonsored by TH E DEPARTMENT OF ACCOUNTING COLLEGE OF COMMERCE AND ADMINISTRATION TH E OHIO STATE UNIVERSITY Edited by TH E BUREAU OF BUSINESS RESEARCH COLLEGE OF COMMERCE AND ADMINISTRATION CONTENTS Page FIRST SESSION Paper: "Postulates: Their Place in Accounting Research". 3 JOHN W. QUEENAN, C.P.A. Paper: "Interpreting the Basic Accounting Postulates" 11 HERBERT E. MILLER, PH.D., C.P.A. Paper: "Does Accounting Have a Solid Foundation?" 20 GEORGE A. CATLETT, C.P.A. SECOND SESSION Presentation of the Ohio Society of CPA awards 29 THIR D SESSION Paper: "Management Information Systems—An Evolution". 33 WILLIAM J. BATES Paper: "Fallacies in Long-Range Planning" 39 JAMES DOWD Paper: "Operational Auditing" 46 JAMES A. ROBBINS FOURT H SESSION Banquet Paper: "Taxes and Economic Growth" 59 G. L. PHILLIPPE FIFT H SESSION Paper: "The CPA and Ethics of Tax Practice" 69 PAUL F. JOHNSON, C.P.A. Paper: "Charting the Tax Perils in the Area of Form Against Substance" 82 ABRAHAM S. GUTERMAN Paper: "Undervaluation of Inventories" » 92 RAYMOND E. GRAICHEN, C.P.A. IV ACCOUNTING INSTITUTE PROCEEDINGS SIXTH SESSION Address: "There's No Accounting for Taste" 107 J. PHILIP MARTIN Conference Roster 116 Available Proceedings 127 FIRST SESSION Presiding: WILLIAM B. NICOL, C.P.A., Presidency The Ohio Society of Certified Fub lic Accountants i Partner; Mead en &? Moore, Cleveland, Ohio Paper: "Postulates: Their Place in Accounting Research" JOHN W. QUEENAN, C.P.A., President, American Institute of Certified Pub- lie Accountants; Partner, Haskins &? Sells, New York, New York Paper: "Interpreting the Basic Accounting Postulates" HERBERT E.