Which of the following is true regarding revelations involving Enron and WorldCo

Question

Which of the following is true regarding revelations involving Enron and WorldCom? That WorldCom, a privately held company, engaged in llegal accounting practices but that Enron, a publidy traded company, had high ethical standards supporting the conclusion that privately held companies need significant government regulation whereas publidy held companies should be allowed to regulate themselves. O That although illegal accounting practices occurred, it is so difficul't to find and regulate such practices that any regulation should be left to the free market. O That WorldCom, a privately held company, had high ethical standards but it Enron, a publicly traded compan engaged in illegal accounting practices supporting the conclusion that privaieiy allowed to regulate themselves whereas publicly held companies need significant government held companies should be O That their upholdi ng of high ethical standards in regard to accounting practices supports the conclusion that the business world should be allowed to regulate itself. O That accounting issues with these companies illustrate that the business world cannoi be allowed to regulate itself ethically and that government oversight is needed. Question 11 1 pt What do the letters "WPH" mean in reference to the "WPH Framework for Business Ethics" discussed in the text? Where. Procedure, and How Why, Procedure, and Hope Where, Plan, and Hope Who, Purpose, and How

Explanation / Answer

Enron and WorldCom:

There is simple reason behind it that the operator and regulator can never be the same agency, the operators of business world are motivated with profits and the regulators works towards the compliance which is more important to create sustainability. The cases mentioned above were largely “accounting and profit perception fraud”, where the operators convinced everyone that whatever they are doing is right because there was no trustworthy third party authentication on those organization.

WPH framework stands for:

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