In the business or corporate world, there are also some problems or issues that occurs, and such are commonly called as corporate collapse and corporate scandals. The inability of the businesses to pay their creditors is commonly called as insolvency or bankruptcy, and this is basically the basic example for the term corporate collapse. Corporate scandals is basically a term that refers to the actual behavior of the businesses and allegations about them that are unethical and unlawful, and this issue can also be referred to as corporate misdeed. Some of the common corporate misdeeds and scandals include fraud, corruption, bribery, and some other kinds of greed that will create or produce negative impact on the entire corporation or organization, as well as, to the business economy.
In the corporate world, there are actually a lot of corporate scandals and corporate misdeeds and we can learn this on this article. The Volkswagen scandal, in which involves bribery affair; the Bernie Madoff Scandal, which involves a wall street investment firm; the waste management scandal, which involves a waste management company; the HealthSouth, which is organized by the CEO himself; the Enron scandal, which is an energy company; the Cendant scandal, which is a decade long accounting fraud; the Fannie Mae, which involves false financial statement and securities fraud; the Tyco International scandal, which involves false loans and bonuses; the Adelphia Communications Corp scandal, which involves one of the largest cable companies in the country of America; the Qwest Communications scandal, which involves an accounting fraud by manipulating the records; the Barings Bank scandal, which involves fraud and forgery; the WorldCom scandal, in which the company uses fraudulent accounting methods; and the Facebook scandal, which involves the data of the users being sent to another political consulting firm, is the list of the most popular or famous corporate scandals that has shocked the whole industry. In the waste management scandal, the CEO or chief executive officer and their top executives, as well as, the auditors of the company named as the Arthur Andersen Company are actually involved in this issue. This particular scandal involves the depreciation of the time length on their balance sheets, which include their plant, equipment, and property. There is actually a question that is commonly being asked in the corporate world that can also be the reason as to why corporate scandals are happening or occurring, and that question is “Are cpn numbers illegal?”, and to answer the question it is definitely illegal for this is a common form of the people to commit fraud.