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energy company coasted on accounting fraud until it imploded in 2001, leading to the passage of the Sarbanes-Oxley Act the following year. For example, record-keeping, authorization, and review activities should be divided among different employees. Perhaps the landmark example of cooking books was Enron, the U.S.
energy company coasted on accounting fraud until it imploded in 2001, leading to the passage of the Sarbanes-Oxley Act the following year. For example, record-keeping, authorization, and review activities should be divided among different employees. Perhaps the landmark example of cooking books was Enron, the U.S.
So what can your organization do to minimize the possibility of fraud and mitigate its potential harm? These consequences came to pass when the Enron scandal broke in 2001. The collapse of Enron, along with several other corporate frauds circa 2001, led to enactment of the Sarbanes-Oxley Act in 2022. Strong internal controls.
In terms of an outbreak, this means both addressing the situation to mitigate its negative outputs (both disease and non-disease) and reducing the CCP leadership’s exposure to public criticism at home and abroad. And, as Zaisu Zhang indicates , this could also end up damaging the credibility of the central leadership in the long term.
Traditional risk management focuses on identifying and mitigating risks that can be predicted based on historical data and past experiences. The only mitigation was that the incident occurred in the middle of the night rather than at peak rush hour, so the casualty count was much less than it could have been.
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