Lee and Li

In: Business and Management

Submitted By ahmedhasan
Words 544
Pages 3
Question 1) Who are the parties affected by this embezzlement? What was the magnitude of the harm to these parties?
Answer: Eddie Liu one of Lee and Li senior assistants found a loophole in the power of attorney from one of the firm’s clients, SanDisk Corporation (SanDisk), which allowed him to illegally sell shares and sneak out from Taiwan. Unfortunately, Lee, and Lee had no insurance to cover this embezzlement. Lee and Li and Sandisk corporations and United Microelectronic Inc. (UMC) are the parties majorly affected by this embezzlement. Lee and Li firm running with great core values with a motto “we care, we serve, we excel” was globally connected and has thousands of clients across many countries, this embezzlement might affect the brand name of the company and the trust among the potential customers of the Lee & Li’s firm. This also results in losing trust among the employees and clients who have been tied to Lee & Li from many years. This will have huge financial impact for both Lee & li and the Sandisk corporations. Lee and Li might get bankrupt and might not be able to pay their employees. The relation between Lee & Li and the Sandisk companies will be affected. Being a globally connected country with thousands of clients Lee & Li must have to monitor their policies without having loopholes. They might lose the trust in the ethics of the other employees. Sandisk Corporation being a multinational company will have financial impact on its operations. This Embezzlement also affects the trust of Sandisk Corporation on Lee & Li firm. The company should start checking their securities while providing the power of attorney to law firms. They might also affect the brand name of Sandisk Corporation.

Question 2) After being informed about the embezzlement, what actions should Lee and Li take to ensure the firm survives? Be sure to…...

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