Businesses were resuming business as usual as 2012 approached the woes of the fiscal crisis seemed to be fading and some of the inspection on corporate governance practices started to recede as well. That is until another important financial scandal emerged in the autumn of 2011 in Japan.
Olympus (A) Case Study Solution
It was slowly revealed that the 92-year old camera and medical photo-imaging company, Olympus, had been hiding its losses for more than a decade - to the tune of $1.7 billion - long before the present economic pressures, slow job growth, and poor investor trust harassed the international economy. The fraud renewed the focus on corporate governance policies world-wide, but notably in Japan, where the shortage of board independence and also a deep-rooted corporate culture entrenched in private loyalties cultivated an environment that made it problematic for scandals such as this to be exposed, let on your own for whistleblowers to come forward about them.
PUBLICATION DATE: October 10, 2012 PRODUCT #: 413040-HCB-ENG
This is just an excerpt. This case is about FINANCE & ACCOUNTING
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