In the business or corporate world, there are also some problems or issues that occurs, and such are commonly called as corporate collapse and corporate scandals. Corporate collapse is basically a term that refers to the business that involves in issues like insolvency or bankruptcy, wherein they have the inability to pay their debts and the money they owed to their creditors. Corporate scandals is basically a term that refers to the actual behavior of the businesses and allegations about them that are unethical and unlawful, and this issue can also be referred to as corporate misdeed. Some of the common corporate misdeeds and scandals include fraud, corruption, bribery, and some other kinds of greed that will create or produce negative impact on the entire corporation or organization, as well as, to the business economy.
In the corporate world, there are actually a lot of corporate scandals and corporate misdeeds and we can learn this on this article. The most popular or famous corporate scandals or misdeeds include the waste management scandal, which involves a waste management company; the HealthSouth, which is organized by the CEO himself; the Enron scandal, which is an energy company; the Cendant scandal, which is a decade long accounting fraud; the Fannie Mae, which involves false financial statement and securities fraud; the Tyco International scandal, which involves false loans and bonuses; the Adelphia Communications Corp scandal, which involves one of the largest cable companies in the country of America; the Qwest Communications scandal, which involves an accounting fraud by manipulating the records; the Barings Bank scandal, which involves fraud and forgery; the WorldCom scandal, in which the company uses fraudulent accounting methods; the Facebook scandal, which involves the data of the users being sent to another political consulting firm; the Volkswagen scandal, in which involves bribery affair; and the Bernie Madoff Scandal, which involves a wall street investment firm. The ones who are involved in the waste management scandal are the top executives and the CEO of the company, and the auditors of the Arthur Andersen Company. The individuals who are involved in the waste management scandal have increase the depreciation time length for their plant on their balance sheets, along with their property and equipment. Since one of the most common questions in the corporate world is “Are cpn numbers illegal?”, the CPN is actually a shortened term for credit profile number that is commonly used by the people and businesses to commit fraud, and using CPN is definitely illegal and you can go to jail.
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