Ralph Yirikyan, director of Ucom company, delivered a lecture at the French University in Armenia.
“The role of effective management. during the lecture “how to instill faith in employees and unite around one goal and strategy”, Mr. Yirikyan talked about the important skills of a leader and the main components of leadership.
The lecture was organized within the framework of the memorandum of understanding between the Galaxy group of companies and the French University. During the active cooperation of the parties, managers of the Galaxy group regularly give lectures and conduct master classes for university students. Students of the French university also do internships in group companies, including Ucom.
“Experience is necessary to be a good manager and administrator. you cannot be a good manager without some work experience. A good manager should encourage work processes and serve as an example to everyone. He should always learn and develop and develop his employees, because they are the main resource of any company. And when your company achieves success, you should not forget and serve the country and society”, said the general director of Ucom company. Ralph Yirikyan։
“If formal education is very necessary to train future young managers, informal education also plays an essential role through the direct transfer of practical experience of the professional world. Being in direct contact with the reality of the field, Ucom CEO Ralph Yirikyan explained to the students his team management method: how to successfully implement a corporate strategy nowadays and especially how to involve teams around it, how to make the company a place of common and joint victories”, – noted the rector of the French University Salva Nakuzi։
At the end of the lecture, Mr. Yirikyan also answered many questions of the students and gave valuable advice for the future.
Yucom CJSC:
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https://www.worldysnews.com/the-ceo-of-ucom-gave-a-lecture-at-a-french-university-2024-05-04-204828/
Auditing firm of Trump Media barred for “massive fraud,” SEC says
The Fall of a Fraudulent Audit Firm and the Implications for Investors
The recent announcement by the Securities and Exchange Commission (SEC) regarding the banning of auditing firm BF Borgers from practicing accounting has sent shockwaves throughout the financial markets. The move comes following reports of massive fraud committed by the company, including deliberate and systemic failures to comply with audit standards, falsifying documents, and falsely claiming compliance. This revelation has significant implications for investors, as several companies will now need to find new auditors quickly.
According to reports in Bloomberg, hundreds of companies that use BF Borgers’ services will be impacted by this decision. The sudden demise of the company means that these businesses will have to hunt for new auditors, scour old audits for problems, and scramble to meet public company regulatory deadlines. This situation is particularly worrying given that many firms are still struggling in a post-COVID environment where financial stability is paramount.
Trump Media Amongst Clients
Bloomberg reports that since 2022, Trump Media & Technology Group had been one of BF Borgers’ biggest clients. Following its merger with Digital World Acquisition Co., Trump Media went public in March 2024. Despite widespread criticism over their selection as auditors on this occasion; their board voted unanimously to keep on BF Borgers due to its history working with them.
“As a result of their fraudulent conduct…they not only put investors and markets at risk but also undermined trust and confidence in our markets.”- Gurbir S.Grewal
The SEC’s Division Director slammed Ben Borgers calling his audit firm a ‘sham’; responsible for one of the largest wholesale failures within financial gatekeepers in our modern market era. The fraudulent conduct has led many investors angry as their funds could be at risk, with little recompense for their losses.
It is crucial for businesses to understand the risks associated with entrusting third-party auditors like BF Borgers. Though auditing firms are intended to provide shareholders and other stakeholders as regards the accuracy of financial statements, those that commit fraud can ultimately impact investors’ fortunes seriously. Hence it is essential that businesses conduct thorough due diligence before selecting or continuing to use a specific auditing firm.
The Road Ahead
The BF Borgers scandal highlights the need for better oversight and regulation of third-party auditing firms that operate within our financial markets’ gatekeeper role. In light of this event, it’s important to remember that there are numerous reputable audit organizations available who follow proper audit standards and procedures when contracted by business entities. With the careful selection of these organizations through conducting thorough background checks on services provider reliability history can reduce business entities’ risks vulnerabilities.
Learn More About Financial Security Services
“Trump Media looks forward to working with new auditing partners in accordance with today’s SEC order.”- Trump Media Spokesperson
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Auditing firm of Trump Media barred for “massive fraud,” SEC says
Rising Prices Impacting Family Holidays: Parents Struggle with High Costs for Children’s Day and Parents’ Day Gifts
▲ Citizens visit Stationery and Toy Street in Changsin-dong, Jongno-gu, Seoul
Many people need to buy gifts for Children’s Day and Parents’ Day, but they are worried about the high prices of the items.
Citizens who celebrate various birthdays in May amid the alarming rise in prices sometimes complain through social media that May is not ‘family month’ but ‘poverty month.’
Among the products on display at the Lego store in Times Square, Yeongdeungpo-gu, Seoul, the average price of 60 products with a discount of 10-30% during Children’s Day was about 88,000 won.
All-day tickets to famous amusement parks cost 47,000 for children for Lotte World and 43,000 for Seoul Land Considering adult entrance fees and dining costs for accompanying parents, a family would have to spend at least 200,000 won a day.
For a family of four with two children in elementary school, it costs 134,800 won to use the salad bar at a famous family restaurant in Korea.
Compared to last year, you have to pay 5,000 won more.
Recently, a famous chicken franchise also raised the price of its main menu by 10.5% from 18,000 won to 19,900 won, McDonald’s also increased the prices of 16 menu items by an average of 2.8% from the 2nd, and Pizza Hut increased the prices of 2 menu items by about 3%.
Parents agreed that although the rising prices are burdensome, “It’s only one day a year and I’m afraid my child will be disappointed if I don’t take care of him, so I try to keep him from being compared to other friends.”
The feelings before Father’s Day, which follows a few days later, are similar.
According to the ‘April Consumer Price Trends’ published by Statistics Korea on the 2nd, last month’s consumer price index was 113.99 (2029 = 100), up 2.9% from the same month last year.
The price of eating out is rising faster than consumer prices. According to ‘Price Participation’, the Korea Consumer Agency’s comprehensive price information portal, the price of pork belly (200g), a representative restaurant menu, in March this year was 19,981 won, an increase of 3.4% compared to the same month last year (won 19,236).
(Photo = Yonhap News)
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