No major decision regarding future mergers, acquisitions or investments should be taken by a single executive. All significant activities and fund usage should be approved by the Tyco board during general meetings. The number of these meetings should be of at least one or two per week.
The conglomerate should also analyse and re-establish their priorities. In this order of ideas, they should place decreased emphasis on profit maximization and focus on actions that give the company a good reputation. As such, they should place increased emphasis developing and implementing programs in the benefit of the investors, the employees, the stock holders and the consumers.
2.e) the Sarbanes-Oxley Act of 2002 was developed as a response to the multitude of accounting scandals that were tormenting American companies, such as Enron, WorldCom or Tyco. The act is aimed to "To protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws, and for other purposes."
In the case of Tyco, the implementation of the Sarbanes-Oxley Act will reduce the possibility of further scandals because it will provide appropriate audit controls; it will strictly define the rights and responsibilities of the board members and other managers; it will implement better financial disclosures; it will forbid conflicts of interest; and it will install new rules and penalties regarding fraud and the company's taxes.
2.f) Given the recent management history at Tyco, as well as the past leadership of Joseph Gaziano, a tendency towards excessive spendings of corporate funds for personal benefit becomes obvious. As such, the United States Securities and Exchange Commission might find it difficult to trust the new board at Tyco. On the other hand, given their precarious status, the new executives should present an impeccable business behavior. In other words, the critical situation at Tyco could be the actual guarantee of appropriate actions, accurate accounting, adequate investments, mergers...
• Competitiveness in the Euro currency markets (Cayman Islands.com) Depositors can also invest globally. There are minimal reporting requirements, and strong client confidentiality, and the Cayman Islands, being under British jurisdiction, has political and economic stability (Benefits of Cayman Offshore Banking) Some of the Comnaonies in Cayman Islands Famous U.S. companies located on Cayman Island include: Deloitte (accounting) Financial Consulting & Accounting Ltd. Custom Accounting Solutions Media Works Xanadu Distributing Ltd. (Marketing) Ford - Vampt Motors Mercedes-Benz - Ultimate Imports
However, because of the costliness of this requirement, many believe it is especially unfair to small businesses who are already struggling to be competitive in an increasingly hypercompetitive, globalized economy. As such, small, public companies have been given a temporary reprieve from some of Section 404's strict and costly requirements. In addition, there have been new guidelines set forth for auditors, with a hopes of reducing the cost of compliance of
and, most internal auditors are still reporting to the CEO or chief financial officers -- the very people who were responsible for most of the past enormous scandals. Therefore, the affectivity of internal audits in correcting the original problems that caused the Enron scandal, for instance, is minimal at best right now. While SOX requires management to test internal controls over financial aspects of the corporation, this reporting structure
Real Estate Industry Analysis The residential real estate industry has been surprisingly resilient in light of the current economic situation. Over the previous two years residential real estate purchases registered into the double digits, while these numbers are down, the market for real estate is anything but out. At a glance, it would appear that realtors do not even know that a recession exists as new properties are springing up from
Corporate Social Responsibility Initiatives A corporation that responds positively towards social issues is considered socially acceptable. There are some corporate social responsibility initiatives which the firm should take in order to get socially responsible. There are five main corporate social responsibility initiatives: Philanthropy, Work/Life programs, Community redevelopment, Acceptance of whistle blowers and Environmental protection. Philanthropy The first way is to donate a lot to charities. These include hospitals, colleges and nursing homes. Many
When considering their security needs, businesses will be faced with whether to develop an in-house, proprietary team or to outsource their security to a contractor. There are significant differences between contract security services and proprietary security, as well as costs and benefits associated with each. With proprietary services, the company can control and monitor all their security needs, change security strategies as needed, and conduct all training in-house. Security personnel
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now