Essay about Waste Management Case Analysis

Words: 1403
Pages: 6
Open Document
1. Based on the fraud triangle, there are several factors present at Waste Management that are indicative of each of the three fraud conditions.

Incentives: from the case, the SEC staff claimed that the top Waste Management officers’ fraudulent conduct was driven by greed and a desire to retain their corporate positions and status in the business and social communities. Their bonuses, retirement benefits and stock options closely correlate with the performance of the company. If the company meets predetermined earnings targets, those top managements will earn a lot from profit sharing. Furthermore, aside from money, those people can maintain their high social status by constantly using those ill-gotten gains to contribute to …show more content…
a. Review and test management’s process by using the procedures in article .11 steps (a) through (i) to determine if the supporting data and factors are sufficient and consistent to sustain the management’s estimation as well as comparable to industry level.

b. Use other alternatives to develop the estimation and compare the result to the original estimation.

c. Review subsequent events or transactions to confirm the credibility of the previous estimation.

6. For those officers who previously served Arthur Anderson, they may implicitly or explicitly force the auditor to accept their adjustment of Waste Management’s financial report. Since they worked for Anderson, they know every detail of auditing procedures performed by the auditor and thus may use their relationship to influence the judgments of auditors. Furthermore, if there is an conflict of interest between those officers and the company, they may chose the ways which are beneficial to themselves. To avoid this kind of fraud, the Sarbanes-Oxley Act of 2002 Section 206 clearly identified what a company should do when potential conflict of interest may occur. Based on the article, it shall be unlawful for registered public accounting firm to perform for an issuer any audit service required by this title, if a chief executive officer, controller, chief financial officer, chief accounting officer, or any person serving in an equivalent position for the
Show More

Related Documents: Essay about Waste Management Case Analysis

Applying Lean Management Essay

Applying Lean Management J. Galt Lock Ltd 8/2/2013 Ujjwal Dhakal S1238629 Operations and Service Management [M3N212833] Individual Report (50%) - Front Cover & Feedback Sheet Student Name: Ujjwal Dhakal Matriculation No: S1238629 Programme of Study: BA Management Technology and Enterprise Student Signature: Ujjwal Date: 02.08.13 Marking Criteria Mark Level of understanding and critical evaluation of case study evidence;…

Words 1977 - Pages 8

Essay on Environmental Impact of Pharmaceutical Legislation

----------------------- Assessment Brief The case study for this assessment will provide a detailed account of a company, aims/objectives of the case study, theoretical concepts to be used to analyse the case organisation, evaluation of the organisation using the concepts identified, lessons learnt and recommendations. This case study is an analytical piece that requires research and application of operations management theories and concepts. You are advised to use the following template to…

Words 457 - Pages 2

Essay about Case Study Analysis L

Running head: L. J. Summers Company – Case Study Case Study: L. J. Summers Company K Green Case Study Analysis: L. J. Summers Company Problem The problem in this case is L. J. Summers Company’s recently implemented cost reduction plan is causing degradation in the organization’s laissez-faire culture and has put the company at risk while challenging their competitive advantage. Furthermore, the inexperienced production manager (owner’s son, Blaine) is using his unearned power as an authoritarian…

Words 1043 - Pages 5

Demand management in fresh food value chains Essay

Demand management in fresh food value chains: a framework for analysis and improvement In this research paper, the author analyzed the problems of demand management in fresh food value chains and how to improved demand management. According to some case studies that were part of much larger VCA study concerned with the sustainability of the UK food industry, the author found two broad categories problems. They are characteristics of demand in agri-food chains, and operational features of demand…

Words 526 - Pages 3

Carded Graphics, Llc Sheeter Replacement Decision (Solution) Essay

from rolls (a sheeter) with a new one. This standard capital budgeting analysis, which requires identification of both the relevant cash flows and the relevant discount rate, is enhanced by an alternative that is not explicitly stated but can be readily identified and analyzed—to outsource all sheeting and close down the sheeting operation. This alternative, which turns out to be financially optimal based on quantifiable case facts, forces students to consider strategic and other…

Words 5553 - Pages 23

Essay On Public Relations

disposal of nuclear waste and the imminent dangers it poses to the people around where the plant is situated. The potential of fatalities in case of a mishap like were the case in Fukushima (Woodward, 1997, p.79). A thorough environmental audit is very necessary for such an environment, and the most important part is how to contain waste nuclear material without contaminating the environment. There is no doubt about the efficiency of nuclear energy but how suitable is the waste disposal process is…

Words 2319 - Pages 10

Essay about Water and Habitable Planet Unit

|8, 9, 17 | |10 |Hazardous Chemicals and Human Health |14, 19, 22 | |11 |Solid Waste and Atmosphere Pollution |18, 20.5, 21 | AP Environmental Science Course Overview AP Environmental Science is a college level course with the ability to transfer college credits…

Words 4001 - Pages 17

Essay on Airplane Accounting Case

maintenance/repairs on the planes. Its just highly unlikely that each piece of aircraft, especially at the values that we are talking about, would be worth identical amounts. Part II: Garbage Trucks 1) The primary charges against Waste Management were that its management improperly eliminated or deferred expenses in order to inflate earnings. They did this by making unsupported changes in depreciation estimates (extending the useful lives of garbage trucks, containers, and equipment), failing to…

Words 1503 - Pages 7

Essay Genetically Modified Organism and Monsanto

Case Study Analysis: Monsanto Attempts to Balance Stakeholder Interests Monsanto is the largest agricultural company that specializes in both conventional and genetically modified organism (GMO) seeds and other products. Overall Monsanto has tried to maintain a good ethical culture to their different stakeholders. Because even with all the issues the organization faced, the company has taken the blame and fixed it the best way possible. For example, when word got out about Monsanto dumping toxic…

Words 798 - Pages 4

Situation Analysis: Phase Separation Solutions

Phase Separation Solutions (PS2) Case Analysis Group Team Leader : Mrs Ei Phyusin Htay Situation Analysis Phase Separation Solutions Inc (PS2), founded in 2004 in Canada, is a young environmental management & consulting company who licensed a patent of unique TPS technology for PCB contaminated soil treatment and oil sludge recovery, having a vision of fully integrated International environmental service company. The firm's competencies, weaknesses, external opportunities and external threats are…

Words 1066 - Pages 5