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Essay Available:
Pages:
1 page/≈275 words
Sources:
1 Source
Style:
APA
Subject:
Accounting, Finance, SPSS
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 4.68
Topic:

Samsung Financial Scandals

Essay Instructions:

https://www(dot)bbc(dot)com/news/business-55674712
In addition to the link posted to the BBC News article, there is a lot of information available online regarding the Samsung financial scandal(s). Share your thoughts on the following questions:
Should the internal auditors have caught the fraudulent activity? Why or Why not?
Should the external auditors have caught the fraudulent activity? Why or Why not?
Do you feel that the punishment is proportionate to the crime(s) committed?
What is anything can/should Samsung do in future to prevent repeat financial scandals?

Essay Sample Content Preview:

Samsung Scandal
Student’s Name
Institution
Course Name and Number
Date
Samsung Scandal
A large conglomerate such as Samsung Electronics should be void of corruption and fraudulent activities, especially from the top leaders. The conviction of Lee Jae-Yong, the then vice-chairman of the conglomerate, sends a bad picture of the company’s corporate culture and the use of bribes to influence decision-making invalidates the company’s financial dealings (BBC News, 2021). Internal auditors, working as an independent body within an organization, have the mandate to assess all the corporation's financial dealings. The IA would therefore be in a position to unmask the fraudulent acts of the vice-chairman beforehand and could be crucial in sustaining the company’s financial success by deterring the unfortunate scandals. External auditors, tasked with performing financial assessment and investigating any form of fraud in an organi...
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