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A corporate scandal involves alleged or actual unethical behavior by people acting within or on behalf of a corporation. Many recent corporate collapses and scandals have involved some type of false or inappropriate accounting (see list at accounting scandals ).
Nine contracts worth ₱8.68 billion contracts were awarded to Pharmally despite its small paid-up capital. [4] These were signed by Lloyd Christopher Lao, Department of Budget and Management (DBM) Procurement Service (PS) Officer in Charge since January 2, 2020, in which Pharmally would supply the government supplies for the COVID-19 pandemic including personal protective equipment, surgical ...
Not all accounting scandals are caused by those at the top. In fact, in 2015, 33% of all business bankruptcies were caused by employee theft. [16] Often middle managers and employees are pressured to or willingly alter financial statements due to their debts or the possibility of personal benefit over that of the company, respectively.
1Malaysia Development Berhad scandal; 23andMe data leak; 1992 Indian stock market scam; 2003 mutual fund scandal; 2009 Peanut Corporation of America recall; 2015 FIFA corruption case; 2017 Bank of the Philippine Islands systems glitch; 2020 Kerala gold smuggling case; 2021 Facebook leak
Macy’s employee responsible for a $151 million accounting scandal made one mistake that snowballed into an intentional coverup Sydney Lake December 11, 2024 at 1:52 PM
The Securities and Exchange Commission (SEC) filed criminal charges against Kapa-Community Ministry International and its executives, citing an investment scam. [7] [8] President Rodrigo Duterte was the first government official to announce the legal actions, doing so on June 8, 2019, when he ordered the National Bureau of Investigation (NBI) to shut down Kapa.
Toshiba Corp's (6502.T) chief executive Hisao Tanaka and a string of other senior officials resigned on Tuesday for their roles in the country's biggest accounting scandal in years. Tanaka will be ...
In 2012, President Benigno Aquino said that, according to Transparency International, the factors driving the progress in the Philippines' Corruption Perception Index scores at that time were improved government service and reduced red tape. [8] Between 2012 and 2014, the Philippines's score rose from 34 to its highest-ever score of 38. [9]