The importance of teaching ethics in management and accounting in the context of persisting cases of corporate misdemeanour and falling accounting standards.
In 2001, at an Enron press briefing announcing their financials, Richard Grubman, a Wall Street analyst, asked Jeffrey Skilling, the CEO, why Enron had not come out with a balance sheet. Bethany McLean and Peter Elkind described the exchange between them as follows: Continue reading “Teaching Ethics in Management and Accounting”
Germany is not particularly known for corporate scandals. Unlike the USA or UK. Or the rest of Europe. The last big one was Volkswagen. But, one involving Wirecard, the payment processing firm with a global footprint, has been unravelling over the last one week, since Ernst & Young (EY), the company’s auditors, announced that it could not find USD 2.1 billion (Euro 1.9 billion), roughly a quarter of the balance sheet size. This is a first for the DAX, a 30-member index trading on the Frankfurt Stock Exchange. Continue reading “The Wirecard Scandal”