Accountancy Scandal Project....please Help Me!

[118 11kate]

:crying:I am doing an assignment about accountancy scandals, I have to choose a scandal talk about what happened, who was at fault (human error, fraud or other factor) and what I could do to stop it happening again.

I have chosen the Sanyo scandal where they admitted adding up their subsidiary companies figures incorrect for a number of years and over paid dividends to its shareholders.

Would you class that as human error or fraud......I think fraud.

What could I do/impliment to stop it happening again?

Who would be to blame?

ARGHHHHHHHHHHH...........................Any help would be fab!

Cheers Kate x

[CJC]

Grrr... I'd written a longish reply and my computer crashed before I posted...

Anyway, the upshot was that it might be useful to look at what happened with the Enron scandal (http://en.wikipedia.org/wiki/Enron_scandal) as a parellel tot his case. Fraud at board level, collusion by auditors and unwillingness to look too closely amongst the wider financial community. As part of the aftermath of Enron, the Sabannes-Oxley Act (http://en.wikipedia.org/wiki/Sarbanes-Oxley_Act) was passed and the provisons made there might be worth looking at too.

[118 11kate]

Really helpful thanks mate, dont know why I did not just pm you and ask you direct lol

[CJC]

Glad someone has faith in me lol