Waste management fraud scandal. The Waste Management, Inc. 1998 Fraud Scandal 2022-10-31

Waste management fraud scandal Rating: 9,2/10 1562 reviews

A journal article review is a critical evaluation of a published research study. It provides a summary of the main points of the article and assesses the strength of the research methods and findings. Writing a review of a journal article can be a helpful way to familiarize yourself with the latest research in a particular field and to develop your critical thinking skills. In this essay, I will provide an example of a journal article review and explain the steps involved in completing this type of assignment.

The journal article that I will be reviewing is titled "The Effect of Social Support on Mental Health Outcomes in Older Adults: A Meta-Analysis." This article, published in the Journal of Gerontology, reports the results of a meta-analysis of previous research studies that examined the relationship between social support and mental health outcomes in older adults. The authors of the article conducted a comprehensive search of the literature and selected studies that met certain inclusion criteria. They then analyzed the data from these studies using statistical techniques to determine the overall effect of social support on mental health outcomes in older adults.

To begin my review of this article, I will start by providing a summary of the main points. The authors found that social support was significantly related to better mental health outcomes in older adults, with a moderate-to-large effect size. They also found that the strength of this relationship varied depending on the type of social support and the mental health outcome being measured. For example, the effect of social support on depression was stronger than the effect on anxiety, and instrumental support (e.g. help with practical tasks) had a stronger effect than emotional support.

Next, I will assess the research methods used in the study. The authors conducted a thorough literature search and used appropriate inclusion criteria to ensure that the studies included in the meta-analysis were relevant and of high quality. They also used appropriate statistical techniques to analyze the data and reported the results in a clear and transparent manner. Overall, the research methods used in this study were well-conducted and appropriate for the research question being addressed.

Finally, I will evaluate the findings and implications of the study. The results of this meta-analysis suggest that social support is an important factor in the mental health of older adults and that interventions that aim to increase social support may be effective in improving mental health outcomes. However, the authors also note that the strength of the relationship between social support and mental health outcomes varies depending on the type of social support and the mental health outcome being measured. Therefore, more research is needed to understand the specific mechanisms through which social support influences mental health and to determine the most effective types of social support for different mental health outcomes in older adults.

In conclusion, the journal article "The Effect of Social Support on Mental Health Outcomes in Older Adults: A Meta-Analysis" is a well-conducted study that provides important insights into the relationship between social support and mental health in older adults. The research methods used in the study were appropriate and the findings have clear implications for the development of interventions to improve mental health outcomes in this population. Overall, this article is a valuable contribution to the field and would be of interest to researchers and practitioners working in the area of mental health and aging.

Financial Scandals: Enron, WorldCom, and Waste Management

waste management fraud scandal

The reason the Waste Management issue happened was an attempt to achieve set revenue goals by increasing profits and pushing down or ignoring expenditures. Get Help With Your Assignment If you need assistance with writing your assignment, our professional assignment writing service is here to help! When the revenues did not increase as per the expectations, the officers recognised this and started to manipulate the account books to show what they wanted the world to see from its account books, thereby committed the frauds. It neither contested them. To avoid litigation and fines, Meyers moved to upgrade the billing problems. Instead, Andersen became further involved with the fraudulent case when the two companies came to an agreement, which involved the write off of a build-up of errors over a 10-year period.

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Waste Management Fraud Scandal 1998

waste management fraud scandal

Additionally, the Sarbanes-Oxley SOX act of 2002, compelled companies to create avenues for employees to report crimes without being unnecessarily targeted. With the lawsuit, a new claim was being filed every day, and it would have eventually risen to billions if they went slow. In 1971, the company officially went public. The auditing company failed to identify the questionable practices. Miller 2019 describes this as a corporate veil, an element of autonomy and intentional exclusion of the shareholders from day to day running of the business within an organization. The Enron financial scandal Enron was a Houston-based company that dealt with commodities, services, and energy. On the other hand, the audit firm was able to solicit money from companies such as Waste Management by convincing them that additional accounting consultancy was necessary.


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Waste Management Scandal, 1998

waste management fraud scandal

The finance team at Waste Management Inc. The Crimes Committed Occupational Fraud includes corruption, asset misappropriation and financial statement manipulation. A civil case was made out against them in the year 2005. Under the principal agency relationship, the employer obligated by law to duly compensate the employee. The WorldCom MCI Inc financial scandal MCI Inc was established through the merger of WorldCom and MCI Communications.

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The Waste Management, Inc. 1998 Fraud Scandal

waste management fraud scandal

As stated by the complaint, "Defendants' fraudulent conduct was driven by greed and a desire to retain their corporate positions and status in the business and social communities," Newkirk said. In 1999, discouraged shareholders filed a class action lawsuit against the company and its several officers for providing misleading statements. The charges stated that the leaders avoided depreciation expenses on their garbage trucks by both assigning unsupported and inflated salvage values and extending their useful lives and they assigned arbitrary salvage values to other assets that previously had no salvage value. The SEC can also take the corporation to jail or its employees. Due to these reasons, the closeness of employees and hire regard of Waste Management to Arthur Andersen, it can be said that the audit firm were no longer independent. Between 1992 and 1997, Waste Management, Inc. New York: Cengage Learning.

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Waste Management's Scandal Analysis

waste management fraud scandal

The list of services that are provided by Waste Management Incorporated include collecting, transferring, recycling, and disposing refuse. They can be held for their own crimes and crimes committed by people they supervise and contact directly Miller 2019. This would defer the cost of the books. They involved misappropriation and falsification of billions of dollars. Conclusion The most important principle of business that most organization aim for is to maximize profits and minimize costs in order to achieve the best growth outcome.

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(DOC) Waste Management Case Study Examination of Fraud

waste management fraud scandal

Another illegal behavior included capitalizing several costs improperly. Waste Management Founder, Five Other Former Top Officers Sued for Massive Fraud. Business law today 12th ed. Examples of well-known scandals include Enron, Waste Management Inc, and WorldCom financial scandals. Keywords: Complicity, Fraud, Stakeholders, Auditors, Agencies, financial statement. The US Congress passed a law making strict regulations for the disposal of waste in the year 1965. The act was a response to the infamous scandal of Enron, WorldCom, Tyco, and Adelphia — all of whom had unethical business practices that caused their shareholders to lose the astronomical amount of investment when their scandals made headlines.

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Essays on A Review of the Waste Management Scandal in 1998. Free essay example about A Review of the Waste Management Scandal in 1998

waste management fraud scandal

Essentials of forensic accounting. The Scandal had an impact on the company because they had to integrate with the U. Its acquisition of the Service Corporation of America in the 1980s officially made it the largest environmental company in North America, allowing it to solidify its position and sustain growth. They cannot be held liable to the corporation, as this was an honest mistake. The 10 Worst Accounting Scandals of All Time. There was a high probability that it would collapse and fail for a scandal of its size, but it did not achieve this, thanks to its employees.

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Waste Management Is Indicted On Charges of Criminal Fraud

waste management fraud scandal

In a business like Waste Management the pay of officers is related to the profits earned by the company. The SEC alleged that Arthur Anderson had knowledge of the fraud and entered into an agreement to provide help in clearing the documents. Some of the charges include securities fraud, falsifying records, and filing fraudulent financial statements. The company was founded in 1968 by Larry Beck and is headquartered in Houston, Texas. This is a modern example of an ethical lapse by a corporate model catering to the public. The organization also used geography entries to transfer millions of dollars in their income statement between the different line items. The consequences of the WorldCom scandal led to the enactment of the Sarbanes- Oxley Act by Congress that was intended to prevent such scandals.


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SEC, Citing Massive Fraud, Sues Former Waste Management Officials

waste management fraud scandal

In this case, Ralph Leonard and other terminated employees suid the executives of NationWay, holding them personally liable. However, Henriques 2012 argues that for all the banks and funds that Madoff had cheated on, they should be aware there are some issues in the plan as they were monetary Sarbanes-Stanley Case 950 Words 4 Pages From what this case turns out to be, as determined by the facts surrounding it, if our organization was set up such that our supervisors have the power to fire employees under their supervision, the company could have potentially found its entangled in a Sarbanes-Oxley lawsuit. Waste Management is a U. When a corporation is investigated, the Justice Department requires them to hand over any documents related to the case and the individuals who were involved in specific crimes. Our academic experts are ready and waiting to assist with any writing project you may have. To achieve this objective, the responsibilities and obligation of the Auditor to detect and report financial statement fraud before their perpetration was reviewed. The scandal was unearthed after a new CEO took over the management of the company.

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