(1) What is material?
Certain provisions of the SEC apply only to matters that are “material” to the financial condition of the company. Therefore, interpretation and application of those provisions relates to the issue of “what is material”.
Item 101 ofRegulation S-K requires that companies must disclose material effects that compliance with environmental law will have on earnings, c
“How can any auditor be independent when his client is paying this kind of money?”
Sarbanes-Oxley Act , 2002
Setting up the PCAOB(Public Company Accounting Oversight Board)
Define Accounting & Auditing principles
Oversee, Regulate, Inspect, Discipline
Ensuring Auditor Independence, Corporate Governance, Financial Disclosure
Enhancing severity of White Collar Crime Penalty
of addressing privacy protection as well as restrictions on government use of power.
The APEC represents more than 60 percent of world’s internet users, also decided in 2002(reaffirmed in 2004) to adopt cyber-security regulatory measures, which follow the council of Europe cybercrime convention. The African union, in particular its African commission on Human and Peoples’ Rights adopted in 2
Recent Situation
“ internal information security attacks are outgrowing external
attacks at the world’s largest financial institutions”
(The Global Security Survey): Only 20% of the respondents in security survey strongly
believed that Information security should be a CEO-level priority
Ernst and Young(2004)
2) IT liability risk management
: The corporations should install f
Globalization !!!
Development of global media
- broadcasted all over the world
- increased awareness
- result in “dual” support behavior
ex) 경남 FC and Manchester United
Recruiting international players
- increased interests
Government taxation checkups
-Clubs’ financial statements regarding taxation will be reviewed by Sports Governing Body.
- Intro
Kyoto Protocol
① The USA, China, India are excluded from Kyoto Protocol.
② Most countries are difficult to achieve the goal except for Russia, Australia.
③ Kyoto Protocol will be ended in 2012.
2) Copenhagen agreement
① agrees that the change of temperature should be 2 degrees lower than before industrialization, but …
→ It didn’t set any specific and restricti
of 20x its normal peak value.
For this reason, California faced with a electric power crisis. So power outage was occurred frequently and electric charge was risen sharply since late 1998.
③ Bankruptcy of PG&E
- As a result, PG&E (Pacific gas& Electric) suffered financial difficulties because energy supply costs had risen and selling prices had been regulated. They couldn't shift a burde
3. Google’s self-censorship: “the greatest amount of information possible” or “being evil?”
All internet companies doing business in China adhere to government regulations under the ‘Golden Shield Project’. Chinese authorities intensified access control to certain IP addresses and politically sensitive information. It is opposed to Google’s long-standing mantra “Don’t be evi
regulation
Power of some major brands
Crystallize its Vision
Reset Original Direction
Corporate Level Strategy
Where to compete?
Means to achieve where to compete
Business Level Strategy
How to compete?
Differentiation / Cost Leadership
Changing its vision
Ebro Puleva is leading group in Spanish food sector, by turnover, profits, market capital, and internat
In 2003 Heineken bought Egypt’s sole brewery, which brews a popular line of nonalcoholic beer that can be marketed by Heineken to the 1.3 billion Muslims around the world.
Each country has different regulations about trade, such as taxation, so companies may change their entry mode according to the government’s policy.
ADVANTAGES
Relatively low level offinancial exposure