of white collar crime, the different types of white collar crime that affect businesses directly and indirectly, goals of white collar crime, fraud statistics and the cost factors related to white collar crime. White collar crimes and business ethics play hand in hand with one another and often cross the line with one another into criminal behavior. White collar crimes have played a very instrumental part in our downward economy over the past five years, and the level of trust given by society
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Midterm Exam – Summer 2011 Chapter 01 Ethical Reasoning Implications for Accounting Multiple Choice Questions 1. Each of the following characteristics describes the importance of integrity in decision making except for: A. Acting out of moral principle B. Being loyal to one's superior C. Having the courage to do the right thing D. Not subordinating professional judgment to others 2. The ancient Greeks thought of the virtues as characteristics of behavior that: A. Could lead
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Corporate Compliance Plan Law/531 July 23, 2012 Company Overview Riordan Manufacturing, a subsidiary of Riordan Industries, is an international corporation with hundreds of employees worldwide with $1billion in annual revenues, making it a Fortune 1000 business. Riordan Manufacturing is a leader in international business for its production and manufacturing of plastic and polymer injection molds. Some of their current customers and clients include the department of defense, the aircraft
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Purpose 3. 4. SM_Prelims.indd 18 44 Corporate Social Responsibility and Business Ethics The Stakeholder Approach to Social Responsibility 52 The Dynamics of Social Responsibility 54 Types of Social Responsibility 57 Corporate Social Responsibility and Profitability 60 Sarbanes-Oxley Act of 2002 66 The New Corporate Governance Structure 69 Privatization as a Response to Sarbanes-Oxley 70 CSR’s Effect on the Mission Statement 71 Social Audit 71 Satisfying Corporate Social Responsibility
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company's reputation, causing loss of customers, employees and/or revenue. In some cases, unethical behavior is also illegal and can result in fines and even jail time for not only accounting executives but management executives as well. The Sarbanes-Oxley Act (SOX) was enacted in 2002 in the wake of a series of high-profile corporate and accounting scandals. SOX introduced major changes to corporate governance and the regulation of financial reporting that affected both publicly traded companies
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WorldCom’s Ethics and Competitiveness By NaShawn Branch “A man without ethics is a wild beast loosed upon this world.” - Albert Camus Nobel Peace prizewinner, Albert Camus compared the actions of an unethical man equal to that of a beast. Following Mr. Camus’s assumptions leads one to question, are business leaders who act in an unethical manner considered beastly? How have unethical business leaders changed the way in which companies do business? All businesspersons that act
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3 Emerging Business Ethics Issues Chapter Objectives • To define ethical issues in the context of organizational ethics • To examine ethical issues as they relate to the basic values of honesty, fairness, and integrity • To delineate abusive and intimidating behavior, lying, conflicts of interest, bribery, corporate intelligence, discrimination, sexual harassment, environmental issues, fraud, insider trading, intellectual property rights, and privacy as business ethics issues • To examine the
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Real Assets vs. Financial Assets I. Real Assets a. Land, buildings, equipment and knowledge that can be used to produce goods and services b. Generate net income to economy II. Financial Assets a. Stocks and bonds b. Claims to the income generated by real assets c. Define the allocation of income or wealth among investors d. Investor’s returns come from the income produced by the real assets that were financed by the issuance of those securities Taxonomy of Financial Assets I. Fixed-income/
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What is the difference between law and ethics? In general, people elect to trade some aspects of personal freedom for social order. As Jean- Jacques Rousseau explains in The Social Contract, or Principles of Political Right, the rules the members of a society create to balance the individual rights to self-determination against the needs of the society as a whole are called laws. Laws are rules that mandate or prohibit certain behavior; they are drawn from ethics, which define socially acceptable behaviors
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several reasons that a person decides whether they will choose the positive or negative way. These different ways will be discussed in this paper. The best way to influence positive ethical decision making is to be a positive influence. The Sarbanes-Oxley Act of 2002 was established with harsh penalties and higher accountability standards. Criminal Acts from the CEO’s from Enron, WorldCom, Tyco, Aldelphia Communications and Computer Associates along with several other executives have led to imprisonment
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