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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. Risk assessment to evaluate risks associated with the various procedures and data sources used to produce the company’s financial reporting. Review the check register or general ledger.
energy company coasted on accounting fraud until it imploded in 2001, leading to the passage of the Sarbanes-Oxley Act the following year. Risk assessment to evaluate risks associated with the various procedures and data sources used to produce the company’s financial reporting. Review the check register or general ledger.
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.
September 11, 2001, was a terrible day—but for the most part we’ve had the luxury of treating foreign affairs as optional, at least compared to most other countries. Then develop ways to mitigate the threats, focusing on the threats that are the likeliest to occur and those which would cause the greatest impact if they did occur.
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