Auditing and Accounting scandals
Upcoming SlideShare
Loading in...5
×
 

Auditing and Accounting scandals

on

  • 10,537 views

How companies and auditors work together to make a big scandal

How companies and auditors work together to make a big scandal

Statistics

Views

Total Views
10,537
Views on SlideShare
10,517
Embed Views
20

Actions

Likes
0
Downloads
75
Comments
0

1 Embed 20

http://www.slideshare.net 20

Accessibility

Categories

Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

Auditing and Accounting scandals Auditing and Accounting scandals Presentation Transcript

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