Role of Information Technology in Financial Reporting and Management. How do banking and finance sector stand to gain from Information technology? Information technology has continued to play an important role in the growth of the business industry in the 21st century. The advent of computers, IT and the Internet has changed the way businesses operate. From HR to … [Read more...] about Role of Information Technology in Financial Reporting and Management
What was the role of the corporate culture of Enron in giving rise to the century's worst financial scandal? How it shaped the disaster that gave birth to the SOX? At the turn of the 21st century, the biggest scandal rocked the financial world. The Enron scandal turned out to be one of the worst cases that brought to light the lack of accountability among financial managers. … [Read more...] about corporate culture of Enron and how it bred a scandal
The Sarbanes Oxley Act of 2002 The Enron scandal and its collapse occurred in 2001. The scandal proved self-regulation and peer review were insufficient to maintain accounting ethics. As a result, the Sarbanes Oxley Act of 2002 was introduced. The Act came into force after a series of Congressional hearings on the Enron scandal. … [Read more...] about The SOX: Increased accountability of the CEO and CFO
Explain subrogation in an insurance contract. Subrogation in its most common form may be considered as substitution. In simpler words it is the substitution of the insurer to the insured’s rights. The question is ‘why the substitution’. It is because the first party or the insurer has made a payment to the second party or the insured for which (the payment) a third party is … [Read more...] about Subrogation in an insurance contract.
Explain Subrogation in an insurance contract. Subrogation in its most common form can be understood as substitution. In simper words it is the substitution of the insurer to the insured’s rights. The question is ‘why this substitution’. It is because the first party, the insurer made a payment to the second party, the insured and for the payment a third party is … [Read more...] about Study Notes