(SOX) has many advantages. There are repeated ethical scandals in business and the majority of the time “ethics and the law run parallel” to each other (Livingstone, 2009, P. 4). The SOX is the first step in holding companies accountable and is a model for accounting practice reform. The SOX controls auditors’ independence and responsibility by fighting business fraud and improving corporate governance. Tsui (2009) stated that “the SOX increases personal liabilities of senior management and introduces
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Industry: Corporate Governance Report GROUP 9 INDIAN OIL Corporation Corporate Governance Philosophy IndianOil believes that good Corporate Governance practices ensure ethical and efficient conduct of the affairs of the Company and also help in maximizing value for all its stakeholders like customers, employees and society at large in order to build an environment of trust and confidence among all the constituent IndianOil recognizes that good Corporate Governance is a continuous
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National Kidney Foundation (NKF) of Singapore INTRODUCTION “Power tends to corrupt and absolute power corrupts absolutely.” Lord Acton National Kidney Foundation (NKF) was established way back 1969 as part of the cell under the Singapore General Hospital due to the arising numbers of kidney related disease victims in Singapore. That cell not only responsible for treating the kidney patients but also taking up the challenges on research as well as educating the community on kidney
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Communication Dr. Ben Busbee Dwight Frazier December 12, 2013 A. Executive Summary: The paper highlights the case analysis on one of the big financial fraud which occurred from 1986-2003. The case of HealthSouth is based on fraud, greed and corporate governance. The HealthSouth case shows that unethical management cannot succeed; sooner or later the truth comes out. The case highlights many key points and the major reason for the fraud was the result of failures of various standard mechanisms of control
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Stone Law, Ethics and Corporate Governance – LEG-500 March 18, 2014 Abstract The PharmaCARE scenario is a case study based on a real life tragedy. Corporate corruption is alive and well and, as this case proves, unethical corporations will break the law for extra profit. Utilitarian ethics should be considered when in the business of providing consumable products to the public. Unfortunately, there are pharmaceutical corporations operating in the U.S. who are not abiding by the law and who
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code. Laws and Values as Determinate of Ethical Behavior * Personal Values- the underlying beliefs and attitudes that help determine individual behavior. * Terminal Values- are preference about desired ends, such as the goal’s one strives to achieve in life. Ex. Self-respect, family security, freedom and happiness. * Instrumental Values- preferences regarding the means for accomplishing these ends. Ex. Honesty, ambition, imagination, and self-discipline. Alternative Views of Ethics Four
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company-wide Code of Ethics The company must develop its Code of Ethics. It should be the embodiment of what the business believes in with regards to the nature of the business, business practices, operations, people and its ethical responsiveness. In doing so, the company will always operate under the guidance of the code- legally and ethically; and all business decisions will be made within the principles of the code. b. Create an Ethics and Compliance Committee The company’s Ethics and Compliance
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Introduction In the modern day, it has become increasingly important for Organizations to be morally correct in the way that they conduct their business and corporate activities. Companies with strong ethics programs have found that these efforts can reduce potential costly fines, decrease vulnerability, improve reputation, provide access to capital, favorably influence their bottom line, positively affect their employees' commitment to work and enhance customer loyalty (The importance of being
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Gestion National Economics University, Vietnam Main concepts Social Entrepreneurship • value creation vs value capture Corporate Social Responsibilities Responsibilities of firm to balance 3P Minizing negative and maximizing positive impacts on society Business Ethics Norms guiding and regulating behaviors right-wrong, acceptable-unacceptable Corporate Governance Procedures, mechanisms to make sure suppliers of finance get return on investment 1 3/21/2015 Govern ment The Media
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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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