Explain the material weaknesses identified during scenario

Reference no: EM131480687 , Length: word count:1500

Case Study - NORTEL NETWORKS CORPORATION

Answer the questions given below in your own words, do not reproduce directly from the given case:-

1. Explain how the Nortel Scandal took place.

2. In 1998 Nortel's Code of Conduct was viewed as being leading edge. Notwithstanding the code of conduct, Nortel's financial statements were still manipulated with the knowledge and assistance of many employees in finance departments throughout the organization globally. How was this possible?

a. There were a series of recommendations made by the Special Committee to prevent recurrence of the accounting conducts. Give these recommendations.

b. Explain what principles of ethics and responsibilities of the professional accountant were violated.

4. Explain the material weaknesses identified during the whole scenario?

(Source: NORTEL NETWORKS CORPORATION* ETHICAL MISSTEPS, Linda A. Robinson, Centre for Accounting Ethics School of Accountancy University of Waterloo Waterloo ON N2L 3G1 June 2005 )

Attachment:- NORTEL NETWORKS CORPORATION.pdf

Reference no: EM131480687

Questions Cloud

Success of any business in today world : Having a reliable network is extremely important to the success of any business in today's world.

What happens to tax revenues as tax rates increase : Explain how consumer surplus is derived from the difference between the willingness to pay and the market-equilibrium price.

What does site tell you about the characteristics of company : What does the site tell you about the characteristics and values of company? Do you believe this Web site is effective in attracting high-quality candidates?

Describe a type of communication : 1. What term is used to describe a type of communication where devices communicate with other devices?

Explain the material weaknesses identified during scenario : Explain what principles of ethics and responsibilities of the professional accountant were violated - Explain the material weaknesses identified during the whole scenario?

What is the significance of the ghost dance : How does music imitate the sounds of war in La Guerre?How can music be used as a weapon? What is the significance of the Ghost Dance?

How do economists define efficiency : Explain how producer surplus is derived from the difference between the willingness to sell and the market-equilibrium price.

Compare and contrast common prevention methods : Identify common security threats and vulnerabilities. Compare and contrast common prevention methods.

Evaluate at least two work motivation theories : Evaluate at least two work motivation theories and how they can be applied in order to improve employee recruitment and retention at JC's Casino.

User Account

All Pages