Background
Fraud Triangle
Summary of Action Steps
Prevention
Aftermath
100
WM Headquaters
What is Houston, Texas
100
Donald R. Cressey
Who is the Criminologist that identified factors common in all frauds?
100
The CEO, CFO, and CAO
Who was it presented to?
100
Arthur Andersen knew that Waste Management was not following this accounting standard.
What is GAAP?
100
full name of Sox?
What is Sarbanes-Oxley Act
200
The amount of time it took for WM to go public
How long is Three year?
200
Arthur Andersen's ability to tell investors of any wrongdoings.
What is Opportunity
200
The cumulative amount of the quantified misstatements and change accounting practices that led to them
What did the Summary of Action Steps aim to achieve?
200
It became known at the end of the fraud that Arthur Andersen did not follow this standard when auditing Waste Management.
What is GAAS?
200
When Sox was created
What is the year 2002
300
Waste Management’s rapid growth
What is Acquisitions?
300
$ and maintaining Waste Managements reputation in the industry
What are the two factors that influenced Buntrock's rationalization
300
These would have brought Waste Management to the minimum level of compliance
What are the "must do" items?
300
The contact for any employees that believe fraud is happening at Waste Management.
What is the Integrity Helpline?
300
some fraudulent cases that created Sox.
What is Enron Corporation, Tyco International plc, WorldCom, Global Crossing, Arthur Andersen, Sunbeam, and Waste management.
400
Wayne Huizenga and Dean Buntrock
Waste Management (WM) was created in 1968 by the merger of two companies owned by
400
pressure to continue a strong growth pattern
What pressure did Waste Management have from investors and stock analysts?
400
Evidenced that Arthur Anderson had identified the non-GAAP practices carried out by Waste Management
What did this document ultimately prove?
400
Methods or procedures that are implemented by a firm to help ensure the validity and accuracy of its own financial statements.
What are accounting controls?
400
SOX was passed by ____ in 2002.
What is Congress.
500
Waste Management Founder, Five other Former Top Officers
Who has sued for the Massive Fraud?
500
The important technique that helps reduce fraud.(but not really in this particular case)
What is the Tone at the Top.
500
Four pages
How long was the document?
500
Arthur Andersen could have forced Waste Management to record these into their books.
What are Proposed Adjusting Journal Entries?
500
Every ___ years public firms have to rotate auditing firm.
What is 5 years.
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