don’t always involve extreme cases such as life or death‚ in fact most cases relate more to theft or dishonesty. Many recent cases such as HealthSouth case prove that making the right decision is often seen in our society. Choosing the right decision may not always be a clear decision. Richard Scrushy‚ is an example of this. Scrushy was the CEO of HealthSouth Corporation. He was known to many is home state of Alabama as a hero and philanthropist. However‚ it wasn’t until 2004‚ where many of those
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INTRODUCTION HEALTHSOUTH Corporation (HEALTHSOUTH) began its rise in 1984 when Richard Scrushy‚ Aaron Beam‚ and other close associates formed the HEALTHSOUTH Empire with venture capital from New Enterprise Associates of Baltimore. In the beginning‚ Richard Scrushy was the chief executive officer (CFO)‚ Aaron Beam was named the chief financial officer (CFO) and William Owen‚ an accountant from Ernst and Young‚ assumed the position of comptroller. HEALTHSOUTH went public in 1986 and began rapidly
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South: The Scrushy Way Richard M. Scrushy‚ the former CEO of HealthSouth Corporation which owns a chain of hospitals and clinics‚ benefitted from some of the most well known celebrities that were associated with HealthSouth organization. The former CEO used the celebrities’ fame and reputation in order to gain more people and customers to enter the facilities and to seek their services. In addition to using such an unethical method to advertise and market their business‚ HealthSouth also used to
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During the 1990s‚ Richard Scrushy‚ the former CEO of HealthSouth Corporation‚ plotted many acquisitions of rehabilitation clinics‚ nursing homes‚ outpatient surgical care operators‚ and other health care companies. Early 2003‚ the Securities and Exchange Commission (SEC) accused the company and Scrushy of boosting earnings to of $1.4 billion since 1999. In November 2003‚ a federal grand jury indicted Scrushy on 85 counts including conspiracy‚ securities fraud‚ money laundering and charges related
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| HEALTHSOUTH | The Wagon To Disaster | | “HealthSouth: the Wagon to Disaster” Is a book written by Aaron Beam covering the rise‚ fall and repair to a monster health care company. Aaron was one of the founding members of HealthSouth. A main focus of “HealthSouth: The Wagon to Disaster” is the life‚ instructions and actions of Richard Scrushy. Richard was the founding leader of HealthSouth‚ and by the account of Aaron‚ Richard was also the origination of the downfall of
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Memorandum Date: 2/18/13 Re: HealthSouth Accounting Scandal HealthSouth Corp.‚ one of the nation’s largest healthcare services providers in the United States was involved in one of the largest accounting scandals in United States history. HealthSouth Corp and its officials overstated earnings in order to meet Wall Street earnings expectations. This memorandum will describe who was involved‚ how the operation was carried out‚ as well as a timeline documenting the resulting damages of the scandal
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The HealthSouth Debacle: A Legal and Ethical Perspective Jay Buntemeyer Regis University Abstract HealthSouth Corporation is the largest operator of rehabilitation hospitals in the United States. Since the company’s inception in 1984‚ HealthSouth has garnered the attention of Wall Street and millions of investors. However‚ the attention was because the iconic HealthSouth was involved in one of the largest accounting fraud scandals in United States history. HealthSouth’s founder and CEO‚ Richard
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.................12 4.1 Red Flags .................................................................................................. .......12 5 PENALTIES FOR FRAUD............................. ................................13 5.1 Richard Scrushy............................................. ..............................13 5.2 Chief Financial Officers Charges..................................... ...............13 6 AUDITOR’S ROLE IN FRAUD................................. ..............
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HealthSouth Fraud Case Review Michelle F. White June 6‚ 2012 HPA 726 Intro to HealthSouth Fraud Case Review In 2003‚ HealthSouth was accused of one the largest accounting fraud cases in healthcare history and those involved are still being tried today‚ nine years later. HealthSouth was founded in Birmingham‚ Alabama in the year 1984 by a respiratory therapist name Richard
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HealthSouth Fraud Investigation Table of Contents Table of Contents i Introduction and Background 1 Analysis 1 Why it occurred 2 Fraud Triangle 2 How it occurred 3 Red Flags of the Fraud 5 Why the Fraud Continued Undetected 6 The Auditors Roles and Responsibilities 7 Fate of Parties Involved 8 Effect of Fraud on HealthSouth 9 Conclusion 10 Appendix A 11 Appendix B 12 Appendix C 13 Appendix D 14 Appendix E 15 Appendix F 16 Works Cited 17 Introduction and
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