Employment Laws in UK Replacing the Collective Laissez-Fair System Essay

Employment Laws in UK Replacing the Collective Laissez-Fair System - Essay Example This paper illustrates that before the introduction of the statutory employment law what was commonly in use was the laissez- fair that lost its significance later after the introduction of the statutory laws. This has made the collective bargaining to lose its significance considerably and instead the statutory laws have become more important. This has resulted into the emergence of new employment patterns in addition to employment disputes. This is clear indications that in the modern day workers depend on law rather than on the collective bargain. The rise of groups lobbying for the rights of workers has continually attacked the tenets of laissez faire through the enforcement of the labor laws. Laissez faire, which advocates for equal competitive chances for all hence survival of the fittest is currently seen as discriminative, offensive and unfair. Not only has individuals and organizations come up with new strategies, but the government has also come up with strategies aimed at protecting the consumers and investors. These regulations deal a great blow to the capitalist nature of businessmen as dictated by the laissez-faire policy. According to the Labor & European Law Review Index, there are articles, acceptable by the law that dictates on the associations at the workplace. Among the regulations in the index are the age regulations. This dictates that investors cannot hire children of a given age. Moreover, there are conditions that have to be fulfilled before an investor can hire women, children or the disabled. This restricts the freedom granted by the laissez-faire where one can hire whoever has the skills to complete the task at hand. Another challenge posed by the LERL is the employment rights, equality, and compensation. As it is widely accepted, Laissez faire is centered on the benefit of the investor but not the employees. It encourages manipulation of the workers as long as they fulfill the demands of the employer. An incompetent worker is automa tically dismissed. However, with the coming of the regulations, these freedoms are curtailed. The freedom of information means that the workers are no longer regulated. Access to information means that the workers are fully aware of their rights. They are therefore empowered to fight for their rights. On the other hand, the employers’ hands are tied as the labour regulations allow for such. Therefore, the employer ceases becoming the top-most authority, as is the case in laissez-faire. The employer also cannot fire the workers at will since that would be a breach of contract and the employer can be arraigned in court for that. Through these regulations, the employer loses the much control that is availed by the laissez-faire system. The UK Department for Business Innovation and Skills (BIS) has also formulated policies that are aimed at bringing a balanced and sustainable growth. On the face of it, this may seem like a great idea, but not in the eyes of investors who believe in the Laissez faire. Under these policies are some policy areas of interest. According to the BIS, these areas include business law, better regulation, consumer issues and business sectors among others. These are the key areas that threaten the continuity and functionality of the laissez faire system. Of greatest impact is the business law. This law is divided into segments which dictate how various functions in a business entity should be carried out. This alone inhibits the freedom of investors. Furthermore, these regulations call for corporate governance. This comes in line with the corporate social responsibility.

Role performance in an interpreted discourse process Essay Example for Free

Role performance in an interpreted discourse process Essay From the previous chapter it is clear that an interpreters role is more than that of passing messages back and forth; it is also Ð ° role that manages the communication process of exchanging those messages. In this chapter, І begin with Ð ° discussion of how the role has been and, in many ways, still is conceived. To investigate further the performance of that role and its implications for norms in interpreting, І analyze four examples of interpreter performance. Practicing interpreters are aware of the public and professional expectations of and demands on their practice, most of which are concerned with confidentiality, neutrality, accuracy, and faithfulness to the message. Interpreters often describe their role as the person in the middle by using Ð ° metaphor which conveys the image or impression that they serve as Ð ° bridge or channel through which communication happens. This channel is supposed to relay Ð ° message from one speaker to another faithfully, accurately, and without personal or emotional bias. The performance of this role has been compared to Ð ° machine, Ð ° window, Ð ° bridge, and Ð ° telephone lineamong otherswhen trying to compress the complexity of the role into Ð ° simple, singular analogy or metaphor. This perspective developed, in part, from practitioners, educators, and researchers who have devoted the bulk of their attention to interpreters working within public and monologic contexts. In these public forums interpreters usually are interpreting for speakers who speak one at Ð ° time to typically non-responsive audiences. In these events, an interpreters role appears conduit like, passive, and noninvolved. Another reason for the persistence of this perspective lies in past research on interpreting which has been done largely by cognitive psychologists and psycholinguists who have focused on the phenomena of language processing and transference of information. This research on the complexity of listening, understanding, and speaking simultaneously has produced detailed models of the psycholinguistic stages of transfer based on errors revealed in the target language production (Cokely 1984; Moser-Mercer 1978). Although these models provide better understanding and appreciation of the mental complexity of interpreting, their very nature reinforces the metaphorical image through which interpreting is perceived. Unfortunately, the force of this perspective is such that most training and professional testing still (in 1998) devote their efforts to the details of the interpreted message and its form. Although the conduit metaphors developed partially in response to Ð ° particular situational performance and to the direction of research studies, they are also used because of ordinary perceptions about the nature of language and communication. Lakoff and Johnson (198o) found that although most people think of metaphors as devices of poets and rhetorical style, they are prevalent in our everyday lives because they allow us to present our conceptual systems through language. Metaphors structure how we think about and perceive our everyday lives. Reddy ( 1979) explains how ordinary language use portrays language as Ð ° conduit which passes on Ð ° speakers thoughts and ideas to Ð ° listener whose only task is to unwrap the thoughts and ideas that have been transmitted through Ð ° conduit and thus hides aspects of the communication experience. The words we use to talk about how ideas are shared are indicative of Ð ° conduit notion. For example, І gave you that idea. It seems hard to see Ð ° metaphor here at all. The word give seems ordinary enough until we ask ourselves if ideas have Ð ° concrete substance that can be given to someone else. These ordinary metaphors convey the sense that meaning actually resides in words, phrases, and sentences as Ð ° tangible object to be inserted or taken out. These metaphors also lead us to particular ways of thinking about the originator of the message, the message itself, and the receiver of the message. For example, Try to pack more thoughts into fewer words. This type of expression blames the speaker for failing to put enough meaning in or failing to put the meaning in the right place. Equally, in the logic of Ð ° conduit metaphor, the receiver must unpack the meaning from the words. Let me know if you find any good ideas in the talk. Its as though ideas can be inserted into words and sentences. The conduit metaphor implies Ð ° whole framework of basic assumptions about language, such as language functions like Ð ° conduit transferring thoughts from one person to another, words accomplish Ð ° transfer of ideas by containing the thoughts or feelings in the words and conveying them to others, and people can extract exactly the same idea, thought or feeling by simply receiving the words. These everyday metaphors mold our perceptions about language and communication Conduit metaphors that abound in the fields of communication, psychology, language, and information processing have been naturally brought into the field of interpreting. It is easy to see how Ð ° communication process involving Ð ° supposedly neutral or passive third party accepts Ð ° conduit-type metaphor as Ð ° way of defining itself. Although these metaphors clearly respond to Ð ° need, they also carry double messages. Certainly they convey the idea of transferring messages, but, at the same time, they call to mind images of disengagement and noninvolvement on any other level. Frequently, interpreters are called on by those who use their services to be flexible and in fact are called upon by their own colleagues to be so. Standards of ethical practice extensively, sometimes exhaustively, list what interpreters should not do, but they seldom explain what interpreters can, or should do, or where or how flexibility should be exercised. Consequently, discussions of practice fall back on what interpreters should not do, or what interpreters may do within the guidelines and wind up being discussions of ethics. In addition to creating metaphors to describe role performance, interpreters (and others) tend to idealize conversational behavior even though their experience with interaction violates both their notions of relaying messages and of the way conversations should occur. In private conversations, interpreters confess to breaking the rules while also admitting that their rule-breaking behavior was successful. What interpreters actually know (intuitively or objectively) and do is complex from both the perspective of psycholinguistic processes and also from the perspective of interactive communication systems as Ð ° whole. Interpreters are not simply processing information and passively passing it back and forth. Their task requires knowledge of Ð ° discourse system that includes grammar, language use, organization, participant relationships, contextual knowledge, and socio-cultural knowledge. Interpreters must also have the ability to adapt this knowledge quickly to size up Ð ° situation, anticipate problems, and decide on solutions within seconds which means they operate within an emergent system of adaptability. Because standards of practice have developed before we have described and analyzed what interpreters do as they work, interpreters use the language of ethical behavior to talk about their job performance. one way in which interpreting as Ð ° discourse process can work for interpreters is in providing new ways to describe, name, and discuss the interpreting process. As this study and the work of Wadensjo (1992), Metzger (1995), and others have shown, interpreters interact in multiple ways within the communicative event of interpreting.

Employee Privacy During Employment

Employee Privacy During Employment In the world, which thrives on the internet and other electronic media to network with the job and non-job related communication, the employee privacy has become a concerned subject. But in the reality, the employee doesnt have much privacy. This document will display information on employee privacy during employment. We discuss background checks, electronic surveillance, the internet and email privacy and more. Employee privacy laws for both U.S. and European union are different in multiple ways. In this document, we will compare the laws by researching the various applicable employee privacy laws both the nations implement for the corporate sector. The two aspects of employee and employer relationship are monitoring employee and conducting background checks. United States European Union The diminished expectation of privacy at the work environment. At the work, environment employees are entitled to expect privacy. Monitoring of employees is okay if the employer is providing a full notice about the monitoring activities and its purpose. Failing to notice will subject the employer to liability Only on instances of important business need and specific instances employee can be monitored by the employer. It is much stricter than the US privacy laws. The privacy laws in use a patch work of the U.S. federal and state privacy laws which regulate the collection of data on certain instances of sensitive information protection of health or financial information, special protection for groups such as children, address the certain abuse of apparent market failure. The collection and use of personal data across all sectors is regulated with omnibus data protection laws. Table 1 United States vs European Union privacy law differences 2.1. United States The primary federal law leading the background checks in united states is the Fair Credit Reporting Act (FCRA). FCRA is applicable to both California and Illinois, the state laws can provide more rights to employees but they will not be able to take away the basics of FCRA. The FCRAs goal is to protect and provide accurate the information regarding the credit history, capacity, reputation and worthiness of the employee/consumer. FCRA is only applicable for the employers or firms and not for individuals who want to perform a background check on themselves or verify their credit reputation. Only particular agencies and employers are eligible for requesting FCRA for the background check. The employer who is requesting the background check must have be complied with certain other Federal and state laws. The employers who request for background check report for employment purpose, per the FCRA the employer or the agencies must provide the employee/ applicant a clear and noticeable printed notice about the change and receive a printed consent from the employer who is requesting the report. The documented printed should be a separate document and not part of another document. Agency who provide the background service for employment, the employer must be certified that the employer: Should have employees consent in printed format Must have provided notice to the employee. The reports information shouldnt be used in violation for equal employment opportunity regulation. Employer must be complied with FCRA requirements, before executing any action with the report In California, the FCRA has a plus, where it allows the applicants who have gone through background check view there report and know if any information is any inaccurate. And it also allows the employer to perform the checks. As FCRA in whole only allows the agency third party to perform the checks. In California, this process is called Investigative Consumer Report (ICR). An employer can only request reports for certain positions and per the categories the applicant must be informed. 2.2. European Union In the European union when the employer wants to run a background check on the applicants or the employees in the firm, to assess and verify the details, the employer must comply to the local member state laws at the firms location and the Data Protection Acts (DP Acts) for EU. Every member state has specific laws which affect the background check, specifically for criminal records. Every member states background check will have a different report. Local state Labor and Employment laws also have obligations on the checks. 2.2.1. France In France for background checks the employer must get prior permissions from the DP Acts in France it is called CINL, this is to collect information for background check. The employer only allowed to get personal information only which is directly relevant to the background checking. The law in France prohibits checks on credit transactions, even if the applicant is willing to provide. Only for certain categories of job position it can be retrieved and must be with consent and information which can be retrieved is limited. The applicants apply for certificate of good standing to get conviction, court record or legal judgements and proceedings. The employer must inform the applicant with the information about: Data transfer to United States People who will receive the information Purpose of the data collection Ability to correct data after its collection Mandatory questions CINL specifies that all the information about the applicant can be viewed and edited after submission of the application for checking. 2.2.2. Germany In Germany Bundesdatenschutzgesetz (BDSG) is the DP Acts that regulates the local law where the applicants personal information cannot be collected and processed without the permission from the applicant, consent is a must and lawfully. Only limited information can be retrieved from the applicant and any violation will lead to fine up to 300,000 pounds. The applicants work development experience and criminal history can be collected and processed. Only during the recruitment process, if failed a written consent will be required from the applicant. Credit worthiness cannot be checked under German DP Acts. 2.2.3. United Kingdom In UK, the information commissioners Office (ICO) regulates the DP Acts. Is very general background checks, they can collect information about the applicant for specific job. The difference is the ICO states that the data collected must be destroyed in a secure  Ã‚   manner within six months. 3.1. United States Electronic Communications Privacy Act (ECPA) denies monitoring and tapping of electronic, email, oral and wire communications. Only email accounts given by the employer can be monitored. Stored Communications Act (SCA) is about the stored messages and its access. It is unlawful to access the contents or electronic communication without authorization or intentionally. It also a violation to prevent alter the data in the storage. The SCA states that the employers being the service providers of the email communication service which is dedicated for the firm can be used to monitor the employees email communication and retrieve the email, this has been approved by the US Court. The employers are also reserve the right to monitor the internet usage of the employees in the firm. Employers already mention the policies which will be implied and is requested by the employees to go through them be aware of them being monitored. 3.2. European Union The European unions DP directives and telecommunication directive are considered also European Convention on Human Rights (ECHR) and article 29 working party opinion, all these laws are implied on the monitoring of employees. Monitoring of the employees by the employer is not encouraged until unless there are specific business needs. If the employer decides to monitor an employee then the Working Party asks the employer to follow certain guidelines and be complied, with keeping in mind the employees right to privacy: Transparency Necessity Finality Legitimacy Proportionality Accuracy and data retention Security 3.2.1. Transparency Monitoring is prohibited and is limited in few circumstances, All the policies must be accessible by the employees which specify about monitoring. The employers should clearly mention the actives which will be monitored. The employer should beforehand inform the employees about the monitoring activities. If any misuse is alerted, the employee must be informed about it at the earliest 3.2.2. Necessity Monitoring should be performed only if necessary for exceptional cases. The data related to monitoring  Ã‚   must  Ã‚   be destroyed securely and not retained more than the specified period. Privacy impact assessment must be performed before the monitoring starts. 3.2.3. Finality The data which is collected for monitoring, must be dedicated to the monitoring tasks only and should not be misused by using the data for other process and functions. All monitoring data is specific to the process requiring the monitoring. 3.2.4. Proportionality Monitoring of the employee data must be in scope and hidden monitoring actives must be voided by the employer. If the employer implements less intrusive monitoring of employee it is better.   Any important notification must be informed to the concerned member. Having an audio and video monitoring at a place which is expected to ensure privacy must be avoided. 3.2.5. Accuracy and Data Retention The data must be stored only for 3 months and not more. The data collected must be for the mentioned monitoring objectives.   The data collected must be retained and updated for the period of task which required the monitoring. 3.2.6. Security The employer must have in place protection for the personal data logged from monitoring and make sure the data is not being altered or breached. 3.3. France Employee must be informed before monitoring is initiated. The employer must define the policies properly with the mention of disciplinary actions. Before making the policies final the labor inspector must approve the internal rules mentioned in the policy. The related files and emails which are monitored must only be viewed with the concerned employees presence and only during an investigation. 3.4. Germany The employers communication facility must be prohibited to use, until necessary. Then the employee monitoring is approved. The employer is not allowed to tap, sniff or monitor the internet usage or email communication of the employee private internet provider. If email and document are mentioned as private or sensitive, they must be excluded from being monitored. The DPO and Works council must be involved and monitoring actives must be recorded and documented in a legal framework 3.5. United Kingdom Interception of communications and Regulation of Investigatory Powers Act(RIPA) regulate the monitoring laws. They specify the extent an employer can try to monitor and record the data of the employees. and, how the data is being monitored, is it internally or being sent over the network. Mobile device communication monitoring is allowing. The employer must inform the employees about the monitoring, adhering the transparency requirement. And any unlawful monitoring is same a criminal offense. 4. Conclusion Both the regions European Union and United States have different approached toward the employees privacy. In European Union employers, must justify every detail collected about the applicant or employee and the monitoring is nearly denied in law in France, Germany and United Kingdom, these state members impose their own laws. Alternatively, which in United States, the data collection from the employee and applicant is legal under the law until unless it is being misused and deviating from the purpose of the collected personal information. The employees monitoring is also allowing and is regulated under law. For JP Consulting Inc under both legal government administrations, a twofold method is reasonable, the Sites in EU must control the data collection and its monitoring activated per the local state member laws of France, Germany, United Kingdom and in U.S they can have monitoring and data collection extensively. https://www.privacyrights.org/consumer-guides/employment-background-checks-california-focus-accuracy http://leginfo.legislature.ca.gov/faces/codes.xhtml http://www.ftc.gov/os/statutes/fcradoc.pdf https://www.consumer.ftc.gov/sites/default/files/articles/pdf/pdf-0111-fair-credit-reporting-act.pdf http://blogs.dlapiper.com/employmentgermany/2016/10/18/background-checks-aka-pre-employment-screenings-in-germany/ https://www.loc.gov/law/help/online-privacy-law/germany.php http://webcasts.acc.com/handouts/Flick1[1].pdf http://employment.findlaw.com/workplace-privacy/employee-privacy.html https://www.mofo.com/resources/publications/monitoring-employees-striking-a-balance.html

Investigate how the Concentration of a Sucrose Solution affects the Rat

Investigate how the Concentration of a Sucrose Solution affects the Rate of Osmosis Introduction: Diffusion is the movement of particles from a high concentration to a low concentration until they are spread out evenly. An example of diffusion is when an aerosol is sprayed. The particles spread out from the high concentration at the nozzle into the rest of the room and that is how the smell moves. Osmosis is the passage of water molecules from a weaker solution to a stronger solution through a partially permeable membrane. Osmosis is a type of diffusion involving water - the water molecules move from a weak solution (with a high concentration of water) into a strong solution (with a low concentration of water). The cell membrane in a plant cell is partially permeable - it has small holes that can let in small molecules but not large ones. This allows water through and therefore allows osmosis. When the cell has all the water it can take inside of it the osmosis process stops. The water pushes up against the cell wall which is strong enough to stop it bursting. The cell is turgid and the plant needs turgid cells to give it rigidity and allow it to stand upright. If the cell has not enough water in it, it is flaccid and doesn't support the plant which goes limp. In order to prepare for my experiment I did a preliminary experiment to get an idea of how I would do my real experiment and what apparatus and solutions I would need. I weighed 11 potato chips and put them into separate boiling tubes. I filled each boiling tube with a different concentration of a sucrose solution from 0 molars (water) through to 1.0 molar with 0.1M intervals in between. After 30 minutes I removed the potato chips and measured their mass. I found that the chips in the concentrations of 0M to 0.2M had increased in mass and the rest had decreased in mass. For my experiment I have chosen to use five concentrations of sucrose solution - 0.0M, 0.1M, 0.2M, 0.3M and 0.4M. I have chosen these concentrations for two reasons. Firstly they cover the point at which the increase in mass changes to a decrease and therefore I can hopefully find the equilibrium where the mass stays the same, and secondly they are all at equal intervals so it will be easy and accurate to draw a graph for my results. Prediction: I predict that out of the five potato chips used in the experiment at least two will... ...tato chip in the solution for different time periods. I could then compare the gradients of the lines of best fit for the 5 different times, and also draw graphs for each molarity across the 5 time periods. I could also do an experiment using the same concentrations as I did in this experiment, but measuring the mass of the potato chips after every 3 or 4 hours until the mass stays the same, and see how long potato chips in different solutions took to reach a final mass and to see how large it's mass would get. Finally I would like to do the same experiment as I did here, but try it out on different types of plants and compare the rates of osmosis of the different plants. This would give an idea of which plants were more efficient at taking up water and I could see what types of plants had the fastest rate of osmosis, and whether there was a link between the rate of osmosis in a plant and the habitat it exists in. For example I might find that plants that live in hot, dry conditions have a faster rate of osmosis than plants which live in cold, wet environments. These experiments would help give a better idea of how the rate of osmosis is affected by the concentration of a solution.

History Reflection Paper

The materials and objectives of SUPS History has given me the confidence to feel capable of meeting college standards upon my arrival to a university. The first term paper I was assigned stressed me out! I was so overwhelmed by the thought of having to write at a college level and how my professor, Ms. Kelly, was going to grade us by college standards. Although I was a nervous wreck, I scored a solid 80%. As I reviewed my actions taken towards completing the essay, I realized that I had waited till two days before the due date to start it and I didn't feel confident in my thesis or essay layout.I remember making myself a mental note weeks before it was due to conference with my teacher for reassurance of the deletion of which my essays focus was going however, I mutinously procrastinate and pushed It to the back of mind. When I actually did start It, It was too late to make a conference. From that first essay Eve learned a lot. Procrastination not only escalated my stress levels but hindered myself from performing at its most greatest capability, which could have earned me a higher score.As the year progressed, I adjusted my habit to starting the term paper at least eight days prior to its due date, giving myself plenty of time to review, research, and conference with Ms. Kelly. Although I didn't conference with Ms. Kelly for every essay, I at least had the time to have some other educated person proof-read it. My term paper grade remained a 80% until recently when I was marked a 75%. Although my grades weren't as pretty as I would have liked them to be, I can understand how I mess up and learn from my mistakes.As a maturing student, Eve learned to take criticism against my work respectfully and rather than being offended or Jumping to conclusions, I absorb the side comments and apply them as best as I can the next time around. For my most recent assignment, I only scored so low because of a misread of the directions. But see, I even learned from that so I'll b e sure to clearly comprehend directions from now on! Furthermore, I've also mentally grasped the formatting of in-text citations, citation pages, and title pages along with the significance of research.Effective research comes from reliable sources, such as the books and documents found on the Syracuse library website. It has become a habit of mine to verify information and check source accuracy. For instance, when I'm researching science related topics for my HUBS (Human Body Systems) class, Eve refrained from the typical Coach answers, Yahoo or Wallflowers and directed my attention to the official Mayo Clinic and Webmd site as well as documented experiments and publishing. Something new this year that I never thought I'd enjoy all that much were the group discussions.Normally I hate group discussions because the same two or three people will cut everyone else off just to hear their voice more critical thinking, analytical practices. I felt motivated to Join in and address mentiona ble areas and topics of whichever book it happened to be that we talked about. Experiencing group discussions in Ms. Kelly's class has strengthened my inference in getting involved in debates and group talks with people that aren't necessarily my friends. Eve found that the best way to really interpret meaning and messages within a book is by really discussing with others.While it was uncomfortable at first, Eve learned to appreciate them. Getting to experience SUPS History has honestly changed me as a student in many ways. Eve learned so much from managing my time to the importance of criticism and book discussions. Although the year was challenging and involved much work effort, it was all worth it in the end. I feel stronger as a writer and I am grateful for critiques. Every critique Ms. Kelly has made was made with reason and aided me in my development as a writer, which can help me to continue growing as a student overall.

Free Essays on Enron

The article on Enron states that there was not one main reason why Enron fell; however it was a corporate culture of deception that lead to the demise of this company. Enron had many loans on their books that they disguised as assets to make them look stronger and more profitable. They worked backwards by figuring out what they wanted their company to look like financially, and then made changes in the books to make it appeal to them. Since the authorities were not using checks and balances to make sure fraud was not taking place, it would have been easy for Enron to make it look like particular divisions were doing worse then they actually were, so they did not have to pay their employees as much. It was also easy for Enron to lie to their accountants because they did not check what the managers told them was truth. The auditors did not check the accountant’s books for mistakes either. There were so many mistakes in so many different areas of this company that its hard t o pinpoint one thing. The article on the Sarbanes-Oxley Act summarizes the new legislation that has been put into place to help guard against another financial disaster, such as Enron and WorldCom. Under this law, attorneys are responsible to report any illegal acts to a board of directors. If the board of directors that the attorney reports to does not pass on this information to proper authority, they will be forced to resign. When the SAS 99 became effective, it profoundly changed the relationship between businesses and auditors because if the CPA does not follow the SAS 99 rules and it comes to the attention of the AICPA, they will lose their CPA and be prosecuted. The SAS 99 coupled with the Sarbanes-Oxley Act should do a great deal to safeguard against scandals in the business world.... Free Essays on Enron Free Essays on Enron The article on Enron states that there was not one main reason why Enron fell; however it was a corporate culture of deception that lead to the demise of this company. Enron had many loans on their books that they disguised as assets to make them look stronger and more profitable. They worked backwards by figuring out what they wanted their company to look like financially, and then made changes in the books to make it appeal to them. Since the authorities were not using checks and balances to make sure fraud was not taking place, it would have been easy for Enron to make it look like particular divisions were doing worse then they actually were, so they did not have to pay their employees as much. It was also easy for Enron to lie to their accountants because they did not check what the managers told them was truth. The auditors did not check the accountant’s books for mistakes either. There were so many mistakes in so many different areas of this company that its hard t o pinpoint one thing. The article on the Sarbanes-Oxley Act summarizes the new legislation that has been put into place to help guard against another financial disaster, such as Enron and WorldCom. Under this law, attorneys are responsible to report any illegal acts to a board of directors. If the board of directors that the attorney reports to does not pass on this information to proper authority, they will be forced to resign. When the SAS 99 became effective, it profoundly changed the relationship between businesses and auditors because if the CPA does not follow the SAS 99 rules and it comes to the attention of the AICPA, they will lose their CPA and be prosecuted. The SAS 99 coupled with the Sarbanes-Oxley Act should do a great deal to safeguard against scandals in the business world.... Free Essays on Enron Enron a Post Mortem - Enron was heralded as America’s most innovative company for five years by Fortune magazine. What happened? What lead to Enron’s demise? The collapse of Enron is one of the century ’ s most infamous, with reverberations being felt around the world. Craig Donaldson speaks with Enron ’ s interim CEO Stephen Cooper about his approach to people management in the midst of this most extraordinary of working circumstances Enron was one of America’s leading companies prior to its spectacular collapse in 2001. It was frequently named as one of America’s top 10 most admired corporations and best places to work, and its board was acclaimed one of the US’ best five, according to Fortune magazine. As America’s seventh largest company, Enron experienced explosive growth through the 1990s. It had revenues of US$139 ($184) billion, US$62 ($82) billion in assets and employed more than 30,000 people across 20 countries. While Enron was considered a phenomenon in its heyday, a highly decentralised decision-making and financial control structure made it virtually impossible to get a clear and coherent understanding of the corporation, according to interim CEO and chief restructuring officer, Stephen Cooper. â€Å"In the space of 30 days, Enron went from American icon to Chapter 11,† he says. The collapse brought an enormous amount of outrage from the company’s stakeholders, while the scale and complexity of Enron’s bankruptcy has resulted in 12 separate investigations by the US Congress.... Free Essays on Enron THE COLLAPSE OF ENRON In early, 2001, Enron Corporation was named most innovative company in America for the sixth year in a row by Fortune Magazine. Soon enough things had turned and by December 2001, Enron filed for bankruptcy. Enron was the premiere trading company of the world, listed as the world’s greatest energy company and now in 2001 suffered the worst business failure in U.S. history. The U. S. was devastated by this and it really hurt all of the employees within Enron. Thousands of employees lost their jobs, savings, 401 (K) retirements plans virtually overnight. One retiree was reported to have lost $1.3 billion in savings and shareholders investors lost nearly $70 billion in market value. No one had even the slightest clue that any of this was going to happen, just like that they were out of there jobs with no money. People with families and children had nothing anymore, it was a travesty. The employees who had invested so much of their stock and savings in Enron’s plans suffered the most form this sudden downfall. They had nothing left to show for all of the hard work that had put into the company for so many years. The were so strong a year earlier in 200, employees were up to 19,000 people they even made $100 billion in revenues a year. Their plan was simply â€Å"becoming the world’s greatest company† which was stated by the current CEO and CEO at Enron, Kenneth Lay. When Kenneth states this I don’t think he puts an ethical review on this, considering the fact that he let go of so many people’s jobs and all of their money. He would do anything to get this company to the top, even if it was cheating, stealing, manipulating people. He is a very greedy person and put himself before his employees and the rest of the company. From my point of view that is ridiculous but that’s the kind of people we have in our world today, as long as they are living a good life they aren’t worry about ot... Free Essays on Enron Kenneth Lay, the ex-CEO of Enron took a small natural gas company, and created a financial powerhouse. In just a little over 15 years, Enron grew into one of the US’s largest companies. It embraced new technologies, established new methods of trading in energy and seemed to be a shining example of successful corporate America. Kenneth Lay himself was awarded a place in the Texas Business Hall of Fame for his achievement of bringing the small company to where it stood. Many surveys showed Kenneth Lay as one of the top managers for the nation. His background of academic and government positions helped back his position as a dedicated leader. Disaster then struck the companies success was all smoke and mirrors created by artificially inflated profits, dubious accounting practices, and fraud. The company unraveled and came crashing down, resulting in thousands of people loosing their jobs and life savings that they invested in to the company. Enron was born in July of 1985 with a merger of Houston Natural and Omaha-based InterNorth. Kenneth Lay was elected as the chairman and chief executive of the company. Around the same time Washington began to lift the controls over who produced energy and how it was distributed. Kenneth Lay saw a chance to make the small company thrive and seized it. Enron guaranteed its customers stable prices during the energy regulation changes. The response to the stable energy prices that Enron was offering was huge. Everyone wanted future gas at the fixed prices of today. In a few years Enron was responsible for over one fourth of the gas business for the United States. Kenneth Lay then decided that it would be profitable to expand its business into other fields by trading other commodities such as coal and steel. Early in the year 2000 Enron was peaking its economic success and began to invest into broadband Internet networks seeing the dot.com economy expand with profits. The company boa... Free Essays on Enron Enron Corp. is one of the world's largest energy, commodities and services company. Before its Chapter 11 bankruptcy filing, it marketed electricity and natural gas, delivered energy and other physical commodities, and provided financial and risk management services to customers worldwide. Based in Houston, Texas, Enron was formed in July 1985 by the merger of Houston Natural Gas and InterNorth of Omaha, Nebraska. Initially a natural gas pipeline company, Enron rapidly evolved from delivering energy to brokering energy futures as energy markets were deregulated. The company began marketing electricity in 1994 and entered the European energy market in 1995. In 1999, Enron launched a plan to buy and sell access to high-speed Internet bandwidth, and it launched EnronOnline, a Web-based commodity trading site, making it an e-commerce company. The company reported revenues of $101 billion in 2000. It has stakes in nearly 30,000 miles of gas pipeline, owns or has access to a 15,000-mile fiber optic network, and has a stake in electricity generating operations around the world. Aftershocks in Europe Enron's collapse will hit many markets. Enron is the largest bankruptcy in United States history, and cost thousands of people their retirement and jobs. They used different accounting tricks to deceive their employees and the public on how good their financial situation really was. How could such a giant, thriving company go from worth around $60 billion dollars to bankruptcy in such a short period of time with no major warning signs? What could allow such a huge financial scandal to take place? How will the Enron scandal affect the current business world and the way that businesses are run in the future? These are all questions that are currently trying to be explained. The story of Enron is still constantly unwinding more and more everyday. The small Houston based company that was started in 1985 when Houston Natural Gas combi...