Question
Lehman Brothers was an investment bank that was based in New York. In 2008, it was revealed that Lehman Brothers had engaged in accounting fraud
Lehman Brothers was an investment bank that was based in New York. In 2008, it was revealed that Lehman Brothers had engaged in accounting fraud to the tune of $50 billion. Because of this fraud, the company went bankrupt and thousands of people lost their jobs.
The fraud at Lehman Brothers was perpetrated by a number of senior executives, including the CFO. These business leaders used a variety of clever accounting tricks to hide the real state of the company's finances. For example, they classified operating expenses as capital expenditures, and used "repurchase agreements" to inflate assets. The fraud was only uncovered when Lehman Brothers filed for bankruptcy in 2008.
1.Analyze the Company's History
2. Identify Weaknesses within the Company
3. Gather Information on the Environment on 2002
4. Analyze Findings
5 .Forensic Recommendations and Outcomes
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