Unformatted text preview: After being fired Mr. Woodford continued to raised questions to the government and SEC board in the false statements that Olympus was potentially providing. After this Olympus’s stock fell dramatically by 56% do to the questioning of their financial statements and many of the stockholders wanted more details in their financial statements. Because of this Mr. Kikukawa decided to step down in hope of helping the company’s image. Mr. Woodford and Mr. Kikukawa are still on the board of the company and Mr. Woodford are not sure that Mr. Kikukawa's resignation will change things with in the company. But only further investigation and time will tell. This is another example of how important faithful financial representation is important in the business world today. Cause whether Olympus has been reporting false statements or not just the questioning of their statements has brought their companies reputation way down....
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This note was uploaded on 02/02/2012 for the course ACCT 100 taught by Professor Punke during the Fall '08 term at University of Wisconsin.
- Fall '08