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CHIQUITA BRANDS INTERNATIONAL
ABOUT   CHIQUITA <ul><ul><li>Cincinnati, Ohio based company </li></ul></ul><ul><ul><li>Successor of United Fruit Company <...
Controversies <ul><li>Cincinnati Enquirer : “Chiquita Secrets Revealed” </li></ul><ul><li>Payment to paramilitary groups <...
CHIQUITA SECRETS REVEALED <ul><li>Article published in the Cincinnati Enquirer </li></ul><ul><li>Reported variety of abuse...
PAYMENT TO PARAMILITARY GROUPS <ul><li>1989-1997 : payments were made to Revolutionary Armed Forces of Columbia and Nation...
BRIBERY <ul><li>The company was found guilty of bribing various officials  </li></ul><ul><li>In 2001, the company was forc...
ONGOING WORKERS’ RIGHTS ALLEGATION <ul><li>The company has been accused of endangering the health of its workers and their...
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Auditing and Accounting scandals

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How companies and auditors work together to make a big scandal

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Transcript of "Auditing and Accounting scandals"

  1. 1. CHIQUITA BRANDS INTERNATIONAL
  2. 2. ABOUT CHIQUITA <ul><ul><li>Cincinnati, Ohio based company </li></ul></ul><ul><ul><li>Successor of United Fruit Company </li></ul></ul><ul><ul><li>Producer and distributor of bananas and other fresh fruit products </li></ul></ul><ul><ul><li>Fernando Aguirre </li></ul></ul>
  3. 3. Controversies <ul><li>Cincinnati Enquirer : “Chiquita Secrets Revealed” </li></ul><ul><li>Payment to paramilitary groups </li></ul><ul><li>Bribery : included foreign and local officials </li></ul><ul><li>Ongoing workers rights violation </li></ul>
  4. 4. CHIQUITA SECRETS REVEALED <ul><li>Article published in the Cincinnati Enquirer </li></ul><ul><li>Reported variety of abuses involving the company </li></ul><ul><li>Mistreatment of the Central American workers, polluting the environment, shipment of cocaine into the United States, preventing the unionizing of workers </li></ul><ul><li>The Cincinnati Enquire had to publish a retraction as information was illegally obtained and not proven </li></ul>
  5. 5. PAYMENT TO PARAMILITARY GROUPS <ul><li>1989-1997 : payments were made to Revolutionary Armed Forces of Columbia and National Liberation Army </li></ul><ul><li>1997-2004 : payments amounting to about $1.7 million were made to United Self Defense Forces of Columbia </li></ul><ul><li>Payments were made in exchange for employee protection in the Columbian banana harvesting zone </li></ul><ul><li>Case resulted in the payment of $25 million fine by the company </li></ul>
  6. 6. BRIBERY <ul><li>The company was found guilty of bribing various officials </li></ul><ul><li>In 2001, the company was forced to pay $100,000 penalty after the Securities and Exchange commission found it guilty of bribing a foreign official in Columbia </li></ul>
  7. 7. ONGOING WORKERS’ RIGHTS ALLEGATION <ul><li>The company has been accused of endangering the health of its workers and their families </li></ul><ul><li>Allegedly, the banana firm has carelessly exposed laborers at the Coyol plantation in Costa Rica to highly toxic pesticides on multiple occasions. </li></ul><ul><li>the company is also accused of using a private militia to intimidate workers </li></ul><ul><li>The company has also ignored certain union complaints for more than a year </li></ul>
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