Explain the value of the public communication

Assignment Help Finance Basics

Reference no: EM1358680

The company with which you are currently employed is experiencing a financial crisis. The Chief Financial Officer (CFO) has suddenly resigned and no one is discussing the reasons why. The U.S. Securities and Exchange Commission (SEC) is investigating your company's accounting practices and from the documents they have requested, the issue seems to concern revenue recognition. Rumors are beginning to circulate that suggest inappropriate behavior on the part of your company. The organization is a publicly traded company, and as such, the company is required to issue a public notice concerning the sudden vacancy of the CFO. As a Certified Public Accountant (CPA) on the team drafting the notice, you are involved in communicating the current situation to the general public.

Write a press release. You may conduct research to find examples of public notices of this same nature. Use the examples to determine how you will format your press release. Then write an accompanying internal memo no more than 2 pages in length to your manager that includes the following:

- Outline what your company is legally required to do.
- Explain the value of the public communication in this situation.
- Examine the balance between calming external stakeholders and the ethical considerations of providing all the information that is required by the SEC.
- How the perception of the press release will affect public opinion

Reference no: EM1358680

Questions Cloud

Explain how does the empirical rule : Explain how does the empirical rule help to explain the ways in which values in a set of numerical data cluster and distribute.

Spiritual perspectives in the workplace : Accommodating Spiritual Perspectives in the Workplace - How should management accommodate a variety of conflicting spiritual perspectives in the workplace

Symptoms of autism spectrum disorders : What are some of the symptoms of Autism spectrum disorders (ASDs)? What conditions are included in ASDs? What is the treatment?

With what force f2 should the second crewman pull : Two crewmen pull a boat through a lock. One crewman pulls with a force of F1 = 130 N at an angle of = 37° relative to the forward direction of the raft.

Explain the value of the public communication : The Corporation with which you are currently employed is experiencing a financial crisis. The CFO has suddenly resigned and no one is discussing the reasons why.

Post-closing trial balances : Explain in detail a post-closing trial balance, how it relates to the practice of accounting and its uses in business?

How company ensure adequate destruction of materials : How will your company ensure adequate destruction of the materials thus ensuring an individual's privacy? Will any state-wide, national, or industry standards be met? If so, which ones and how?

Customer service-good and bad experiences and why : Share some stories about recent positive and negative customer service experiences. What specifically made these experiences either good or bad?

Diagnosis of aspergers : Describe the impact and effects of psychopathology on family functioning; how would a diagnosis of asperger's on one family member affect the functioning of the couple or family as a whole?

User Account

All Pages