Running head: ETHICS REFLECTION Ethics Reflection STR/581 Ethics Reflection In the last decade ethics has taken an important place in corporate America after some unethical and fraudulent business practices getting uncovered. Few companies’ such as Tyco, Enron, Arthur Anderson, and WorldCom have made their name synonymous with corporate fraud. Unethical behavior of top executives like Bernard Madoff and Martha Stewart can sink the whole company. This paper will explain
Words: 791 - Pages: 4
going over the business ethics of a company that is known for one of the biggest frauds in corporate America. The company is Enron and I found an article that is titled " The Case Analysis of the Scandal of Enron" and in this article the author talks about the business practices on Enron and the unethical research they used to grow their business and in the end they ruined a lot of good people's lives, and damaged their futures. According to "Dictionary.com" (2013) ethics are the values relating
Words: 790 - Pages: 4
Issues 1.- What different Course of action David Sokol should have taken? 2.- What measures can and should be taken to make it easier for corporate employees to “blow the whistle” on a fraudulent scheme they uncover within their firm? 3.- Should business, accounting firms, and other organizations explicitly reward ethical behavior by their employees and executives? 4.- What measures accounting firms can take to reduce the risk that personal relationships between client personnel and members
Words: 3089 - Pages: 13
HealthSouth had become the largest provider of outpatient surgery, rehabilitation, and diagnostic and imaging services as well as the third largest publicly held company in Alabama (Chaubey, 2006). Scrushy is best known, however, for his deplorable lack of ethics and the massive fraud he perpetrated during his tenure with HealthSouth. Government Subsidies Scrushy mistakenly assumed that generous
Words: 3288 - Pages: 14
Jessica Yarington Critical Analysis: Bribery and its Effect on Business Practices BMAL 560-D06 Dr. Henry Critical Analysis Critical Analysis Topic: Bribery and it’s Effect on Business Practices PRINCIPLE: * Bribery refers to “the offering, giving, soliciting, or receiving of any item of value as a means of influencing the actions of an individual holding a public or legal duty” (Bribery, 2015). * Economist say that bribery negatively impacts economic growth because it
Words: 2795 - Pages: 12
Reporting Practices and Ethics Christine Crumity HCS 405 Module R4 October 10, 2011 Barbara Archer Reporting Practices and Ethics Reporting practices and ethics are the seams of health care accounting and management. It is important that the principles and practices are adhered to in order for the organization to continue operating. Health care is an organization which thrives on care and safety along with stability. It is management’s responsibility to ensure that not only care criteria
Words: 829 - Pages: 4
Enron, a huge company is one example where some of their management team members and employees committed fraud or embezzlement. With the various corporate or business scandals happened in Corporate America, Congress had introduced and passed the Sarbanes-Oxley Act (SOX). Under SOX, all publicly traded companies were required to maintain an adequate system of internal control. Under Section 404 of the SOX, states that all annual financial reports must include an internal control report. It also states
Words: 2061 - Pages: 9
1 Business Ethics HealthSouth: The Scrushy way—Activity 8 Melinda S. Whitman Dr. Jennifer Scott Northcentral University May 19, 2013 HEALTHSOUTH: THE SCRUSHY WAY 2 Table of Contents Introduction…………………………………………………………………………….. 3 Richard Scrushy Represented the American Dream…………………………………… 3 The Sarbanes-Oxley Act was enacted in 2002…………………………………………. 4 What caused the
Words: 3204 - Pages: 13
Effect of Unethical Behavior Article Analysis Terra Postelle ACC/291 January 08, 2013 Bennie Clark Effect of Unethical Behavior Article Analysis The effects of the Sarbanes-Oxley Act of 2002 on financial statements are general guidelines as to how the information is gathered, calculated and presented to clients while enforcing their accuracy and legitimacy. Companies such as Enron, Tyco, Global Crossing, and WorldCom are just a few examples of corrupt business cultures, practices, and greed
Words: 605 - Pages: 3
With the complexity of accounting today there is a need for someone to oversee the auditors and the publicly help companies. The auditors must prove their independence when attesting to the financial statements of publicly held companies. The public companies must be honest and open when they file their financial statements. In recent years there have been auditors who were bias towards some companies and also companies have not been disclosing all the facts about their financial position. These
Words: 1284 - Pages: 6
