In the Tyco Fraud the Corporate Governance System Completely Broke

question 58

Essay

In the Tyco fraud the corporate governance system completely broke down. Explain the failings in the corporate governance system at Tyco and how the Sarbanes-Oxley Act addresses those failings.

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Definitions:

Prone

Lying flat, especially face downwards or inclined to have a particular condition or to do something.

Venography

A diagnostic procedure that involves imaging the veins by injecting them with a contrast dye to make them visible on X-rays.

Cholecystography

A diagnostic imaging procedure used to visualize the gallbladder, typically involving the use of a radiopaque contrast medium.

Tomography

Imaging by sections or sectioning, using any kind of penetrating wave, to create a three-dimensional image of the inside of an object.