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No Excuses, No Surprises

How the discovery of major lapses in its internal controls helped Siemens become a better company.

March 9, 2010

Painful and costly as a major corporate financial scandal can be, it can ultimately help a company grow stronger if executives can unearth the problems that spurred the crisis and fix them. That was the result of a process that began when 250 Munich police officers raided the corporate offices of Siemens, a Germany-based multinational conglomerate, on November 15, 2006, according to Joe Kaeser, the company's CFO. Read more...

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