Health South Essay Example | Topics and Well Written Essays - 2250 words

Health South - Essay ExampleOther five HealthSouths chief slaughter officers have been charged with fixing of business books. The first people were Weston Smith and William Owens, with falsely certifying the exactness of company accounts with the Exchange commission and securities. Therefore, among the provisions of the Sarbanes-Oxley corporate obligation law were ordained the previous year.David Dennis is also among the highly publicized case in Healthcare Corp. along with chief operating officer Thomas Mackey. They were charged with reimbursement aft(prenominal) government analysis of the company. Universal Health services dismissed financial chief Kirk Gormn after expressing philosophical difference with the companys canvass firm.In United States, contemporary corporate fraud altered decimated private plans, market values and devalued public pension funds. In 2002, Dynegy, Tyco and WorldCom are among those companies that coupled fraudulent accounting ranks. WorldComs Scott Su llivian and Enron Corporation Andrew Fastow are facing massive fraud charges linked to vast corporate collapse.The first tragic truism is the unconformable of some managers in what they do and say (Crew 3). The FCC chair, Michael Powell, told the C-Span that the Clear Channel is likely to be too much concentrated. They may have issues connected to the company after the congress portrayed 1996 deregulation law. The FCC, therefore, were expected to undergo a scrutiny, but Powell did not do anything about it and neither did FCC. On the contrary, they talked without carrying out any serve (Grow 6).Fundamentally, Health South CEO only cares about his interests and what his fraud would generate for the stakeholders and the company. He promised the stockholders that the company is doing its best to increase the price of shares that was not the case. As a result, Richard engaged into fraud to meet his promises leading to the financial scandal in the company.Halliburton had fleeced the Arm y $61 million for