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Discuss the following topics for the WorldCom scandal:
1. Discuss Cynthia Cooper’s role in uncovering the accounting fraud.
2. Identify what Arthur Anderson’s role in the scandal.
3. Identify at least three specific Canadian quality control standards that in your opinion would have affected the outcome had they existed at the time of the scandal. Explain your reason why they would have had an impact.
4. Identify at least three Rules of Professional Conduct that have been violated as a result of this scandal? Explain the nature of each violation.
5. Identify at least two independence threats for Anderson and explain your why they were threats to Anderson’s independence.
6. If you were a shareholder of WorldCom at the time, would you have pursued legal action against the auditor? Assuming your answer is yes, under which law or laws would you sue and why?
You want to have $4 million in real dollars in an account when you retire in 30 years. The nominal return on your investment is 10 percent and the inflation rate is 4 percent. What real amount must you deposit each year to achieve your goal? (Do not ..
A firm is considering purchasing a computer system. Determine the IRR for the computer system.
ALTEC Inc. can issue bonds in either U.S. dollars or in Swiss francs. Dollar-denominated bonds would have a coupon rate of 15%; Swiss franc–denominated bonds would have a coupon rate of 12%. what is the annual cost of financing for the franc-denomina..
What tax rate would an investor be indifferent between these two bonds? which bond should an investor in the 30% tax bracket invest in?
what is the approximate profit that a bank earns by entering into both a fixed rate and an offseting floating rate swap?
Night Shades, Inc. ( NSI), manufactures biotech sunglasses. The variable materials cost is $ 10.48 per unit, and the variable labor cost is $ 6.89 per unit. a. What is the variable cost per unit? What are the total costs for the year? c. If the selli..
Mr. Hugh Warner is a very cautious businessman. His supplier offers trade credit terms of /15,net85. Mr. Warner never takes the discount offered, but he pays his suppliers in 75 days rather than the 85 days allowed so he is sure the payments are neve..
what annual payments should be made so that both forms of payment are?equivalent?
research a company of your choice and locate the latest financial statements published by the company.for the following
You are in a situation that you suspect there is an arbitrage opportunity with options you are studying.
What is the wacc for this expansion project if Mirha expects to maintain its target capital structure?
Storico Co. just paid a dividend of $3.85 per share. The company will increase its dividend by 20 percent next year and will then reduce its dividend growth rate by 5 percentage points per year until it reaches the industry average of 5 percent divid..
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