The purpose of this paper is to explore the business practices on Native American Indian reservations and incorporating the Sarbanes Oxley Act (SOX) in to their business administrative policies and procedure plans. The results of this report will provide an initial starting point for chief executive officers and business entreputers on reservations to better understand the importance to incorporate this legislative act so ethical practices can begin to have changes in the business environments
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Question No. | Answer | 1 | a. Well-developed equity market & dispersed ownership | 2 | c. Voluntary practices | 3 | a. Advertising | 4 | a. Monetary Policy | 5 | c. That portion of bank’s total cash reserves which they are statutorily required to hold with the RBI. | 6 | b. The Greenbury Committee, 1995 | 7 | b. Bank | 8 | d. Harshad Mehta scam, 1992 | 9 | b. Diffused Debt | 10 | a. Director | 11 | b. De Facto | 12 | b. Independent auditors | 13 | a. Ganguly Group |
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actions of employees acting against corporate policies, the view that bribery is justified because they respect local culture (Bishara 2009). In the early 2000s, the list of major U.S. firms engaged in large-scale corporate fraud included Enron, WorldCom, Tyco,
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jon24565_ch05.qxd 11/2/05 1:22 PM Page 138 C H A P T E R 5 Business Ethics and the Legal Environment of Business Learning Objectives After studying this chapter you should be able to: 1. Understand the relationship between ethics and the law and appreciate why it is important to behave ethically. 2. Differentiate between the claims of the different stakeholder groups affected by a company’s actions. 3. Identify the four main sources of business ethics, and describe
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investor would you want your money protected? Would you be skeptical about investing in companies since the securities fraud scandals that have happened recently? The answer is most likely, “yes”, to a certain degree. With the news about unethical business practices and companies not following regulatory guidelines, it is difficult to ignore the risk that is involved with trusting someone else with your investment. But there is an answer to help protect companies and shareholder, and it comes in the
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increased moral hazard, and the overpayment of executives within the firm. Misrepresentation of the financial statements and the misuse of accounting practices was the main reason for the Collapse of Lehman Brothers. It was said that upper management violated the Sarbanes-Oxley Act through the use of questionable and unethical accounting practices, more specifically through the use of Repo 105 transactions. The second part of this paper addresses the underlying causes and issues relative to the study
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What does ethics have to do with accounting? Everything, since there have been some recent financial accounting scandals; a few examples being Xerox, WorldCom, Enron, which have generated much unwanted and unfavorable publicity for CPA's, including those working as controllers or chief financial officers for organizations. When you hear the word "ethics," what is the first thing that comes to mind? Having to make the decision of doing what is right versus doing what is wrong. Some idealists say
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jon24565_ch05.qxd 11/2/05 1:22 PM Page 138 C H A P T E R 5 Business Ethics and the Legal Environment of Business Learning Objectives After studying this chapter you should be able to: 1. Understand the relationship between ethics and the law and appreciate why it is important to behave ethically. 2. Differentiate between the claims of the different stakeholder groups affected by a company’s actions. 3. Identify the four main sources of business ethics, and describe
Words: 21076 - Pages: 85
C H A P T E R 5 Business Ethics and the Legal Environment of Business Learning Objectives After studying this chapter you should be able to: 1. Understand the relationship between ethics and the law and appreciate why it is important to behave ethically. 2. Differentiate between the claims of the different stakeholder groups affected by a company’s actions. 3. Identify the four main sources of business ethics, and describe four rules that can be used to help companies and their employees
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Introduction…………………………………………………………………………….. 3 Richard Scrushy Represented the American Dream…………………………………… 3 The Sarbanes-Oxley Act was enacted in 2002…………………………………………. 4 What caused the demise of HealthSouth?...……………………………………. 5 Characteristics of Unethical CEOs……………………………………………………… 6 Was Richard Scrushy narcissistic?.……………………………………………………. 7 Impact on Stakeholders………………………………………………………………… 8 Outcome and Fairness of Punishment…………………………………………………. 9 Conclusion……………………………………………………………………………... 10
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