2005, p. 24). Corporations had been so concerned with financial gain that the idea that there was a need for better internal controls did not exist. As long as the corporation was providing financial statements that presented the picture of a company continuing to grow and make money, it was assumed that the company ran smoothly. As a result, it was far too easy for corporations to overstate the value of assets or understate liabilities causing the true value of a corporation to be undiscovered
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Responsibility Contents Introduction 2 Definition of Ethics 2 Definition of Corporate Social Responsibility (CSR) 2 History of Ethics 2 Socrates 2 Plato 2 Aristotle 2 Cynics 2 Cyrenaics 2 Business Ethics 2 Nike 2 McDonalds 2 Enron 2 Wal-Mart 2 Why Business Ethics is Necessary 2 Conclusion 2 Bibliography 2 Introduction This assignment is a brief over view of ethics in the modern day era. It begins with a definition of ethics, followed by a concise explanation of corporate
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enacted as a reaction to a number of major corporate and accounting scandals including those affecting Enron, Tyco, WorldCom and Arthur Andersen LLP. These scandals cost investors billions of dollars when the share prices of affected companies collapsed and shook public confidence in the nation's securities markets. The Sarbanes-Oxley Act of 2002 and Its Effect on the Accounting Profession Enron, World Com and Arthur Andersen LLP, three names that have long become synonymous with deceptive accounting
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Sarbanes-Oxley Act of 2002 Sarbanes-Oxley Act of 2002 U.S. Senator Paul Sarbnes of Maryland and U.S. Representative Michael Oxley of Ohio followed a series of corporate failures, which inacted the SOX Act based on Enron’s bankruptcy and other key organizations such as Worldcom, Tyco, Xerox, and Adelphia who were among the United States organizations executives in the headlines for misdemeanors and multi-billion dollar reassertions," (Dembinski, Lager, Cornford, Bonvin, 2005). The Sarbanes-Oxley
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is, and then there are articles that talk about the need for or against training of business ethics by businesses. This review is aimed towards showing the pros and cons of ethics training by businesses as discussed in current or recent surveys, studies, and articles. Introduction Business ethics has been a controversial topic for many years. It is said to be a double-edged sword and is seen as both an evil and as a proactive approach to preventing lies and motive good behavior (Bayley
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issues of concern * Barriers to entry and lack of competition * Transparency | 555 | The importance of reputation | 6 | What went wrong? | 7 | The need for regulation | 7 | Can we trust the rating agencies? * The Enron Case Study * The Parmalat Case Study | 889 | Are rating agencies guilty? | 12 | The sinister power of rating agencies | 13 | A world without rating agencies | 14 | Conclusions | 15 | References | 16 | The protagonists of the world market A rating agency
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HELP University College Faculty of Business, Economics and Accounting Department of Business Studies INTERNAL SUBJECT OUTLINE Semester 3, 2011 FIN304 Global Financial Management Subject Lecturer / Tutor Mr. Mohd Jamil Jelani Telephone Fax Room Email 603-20961511 603-20957063 12, KPD Block B, Level 2 mohdjj@help.edu.my Class Contact Please refer to timetable Consultation Please call or email for appointment FIN304 Global Financial Management – Semester 3, 2011 SUBJECT DETAILS
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Business Ethics (2008) 77:431–449 DOI 10.1007/s10551-007-9358-8 Ó Springer 2007 The Dark Side of Authority: Antecedents, Mechanisms, and Outcomes of Organizational Corruption Ruth V. Aguilera Abhijeet K. Vadera ABSTRACT. Corruption poisons corporations in America and around the world, and has devastating consequences for the entire social fabric. In this article, we focus on organizational corruption, described as the abuse of authority for personal benefit, and draw on Weber’s three ideal-types
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However, not all companies are managed successfully. There has been a spree of corporate frauds worldwide, e.g., Enron in the United States and Satyam Computers in India. The latter had accounting and auditing flaws apart from lack of accountability and oversight by Independent Directors at Board meetings. There was no whistle-blowing in case of Satyam Computers unlike Enron. The Satyam Computers revelation was an outcome of a takeover attempt. It eroded the wealth of shareholders. From this
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Revenue generation: Many programs require certification or licensing that businesses must pay for in order to operate. The funds collected go to pay for the government programs that perform the oversight of the particular industry. However, in many cases, some portion of revenue is also deflected to general government purposes and is, effectively, a tax. Businesses, on the other hand, may consult
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