Fraud: Tyco Research Paper by Champ

Fraud: Tyco
This paper examines the fraud fiasco at Tyco International Ltd.
# 98488 | 2,139 words | 8 sources | APA | 2007 | US
Published on Sep 28, 2007 in Business (Accounting) , Business (Companies) , Law (Company) , Accounting (General) , Criminology (General)


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Description:

In this article, the writer notes that the 21st century saw the frauds committed by executives of Enron, WorldCom and Tyco. The writer points out that these frauds concern not a pitiful few thousand dollars in change but the betrayal of public trust, amounting to theft of billions of dollars over a period of several years. This paper focuses on the Tyco fiasco and examines it in detail. The writer discusses the actions of the three Tyco executives concerned and maintains that their downfall is their own doing and that they will spend most of their twilight years in prison with history books judging them as thieves and con artists of the grandest scale. The writer then concludes that these same individuals have ultimately contributed to the betterment of corporate social responsibility, corporate governance and fiscal responsibility because better and stricter regulations have been implemented to prevent re-occurrence of their actions not only at Tyco but other corporations as well.

Outline:
The Reckoning
Perpetrators and Discoveries
How Could It Have Been Detected Earlier
The Red Flags
Lack of Controls?
End Game

From the Paper:

"In the contemporary setting, the men whom the gods wish to destroy are the icons of American industry that supposedly brought myriad riches to the coffers of various American corporations. But these industry and finance magnates forgot they are mere mortal, men of flesh and blood whose mortality is guaranteed. Yet for the power given to them, they felt they are demi-gods or gods themselves that could rule and conquer the corporations they supposedly lead. The beginning of the century saw the downfall of these gods of American corporations and the gods indeed deprived them of their senses - that of the sense of propriety, decency and humanity. Hence, the 21st century saw the frauds committed by executives of Enron, WorldCom and Tyco."

Sample of Sources Used:

  • Einstein Law, Inc. Tyco Fraud Information. 2002. Tyco Fraud Information Center. 12 December 2006. <http://www.tycofraudinfocenter.com/information.php>.
  • Maremont, Mark. Kozlowski, Swartz Are Found Guilty in Tyco Fraud Retrial. 17 June 2005. The Wall Street Journal Online. 12 December 2006. <http://online.wsj.com/article/0,,SB111824623940554285,00.html?mod=home_whats_news_us>.
  • Pergola, Carl W. The Red Flags of Fraud. September 2004. AllBusiness.com. 12 December 2006. <http://www.allbusiness.com/accounting-reporting/fraud/1030387-1.html>.
  • Priest, Steve and Kaplan, Jeff. Codes of Conduct in Light of Sarbanes-Oxley, NYSE Listing Requirements, and the SEC. January 2003. 12 December 2006. <http://www.ethicalleadershipgroup.com/articles/CodesofConductarticlewithrevisions.pdf>
  • Securities Fraud FYI. How Did Tyco Defraud Shareholders? 2002. 12 December 2006. <http://www.securitiesfraudfyi.com/tyco.html>.

Cite this Research Paper:

APA Format

Fraud: Tyco (2007, September 28) Retrieved April 18, 2021, from https://www.academon.com/research-paper/fraud-tyco-98488/

MLA Format

"Fraud: Tyco" 28 September 2007. Web. 18 April. 2021. <https://www.academon.com/research-paper/fraud-tyco-98488/>

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