453 words - 2 pages
Enron Video Assessment
The video shown in class Friday, the 27th of January, told of the scandal of a company named Enron that basically committed accounting fraud for over six years. This brazen crime placed the company at the top of fortune five hundered companies as America's most innovative company by claiming huge annual revenues averaging in excess of one hundered billion dollars. Since the company went bankrupt in Decemeber of 2001, it has become the epitomy of corporate fraud, and brought about a new federal law known as the Sarbanes-Oxley Act to try and prevent this from happening so easily.
Enron employed many people. Estimates were up to twenty...
1076 words - 5 pages
What is Enron?
Until its decline into bankruptcy in 2001, Enron was the United States’ seventh-largest corporation. Enron grew from a natural gas pipeline company into a trading and marketing giant, moving first into the business of acting as a broker between energy suppliers and buyers, then expanding its role as a broker of non-energy transactions, and later adding a variety of diverse investments to its portfolio. Enron was a leading advocate of restructuring energy markets in the United States and the largest player in the energy trading business.
What led to Enron’s collapse?
The company’s most recent troubles can be traced to revelations in October 2001 of massive amounts...
1052 words - 5 pages
Enron the Fallen
Professor: Karina Arzumanova
LEG100014VA016-1116-001Business Law I
July 24, 2011
Describe how Enron could have been structured differently to avoid such activities.
Enron’s leaders had the work ethic of only fighting for themselves and if others got hurt it was no big deal hurting. Enron had that it’s a dog-eat-dog thinking. This type of thinking would, in the end, be the demise of Enron. Enron focused on short-term gains. The accounting tactics of Enron were degraded by no small terms. Enron was full of demoralized people throughout several departments with growing their personal finances their ultimate goal. They projected many years of financial...
1839 words - 8 pages
The activities of the leadership of Enron and its Board of Directors is a virtual how to on how unethical decisions can and will eventually bring a company to the brink of collapse. The short term rewards of unethical activity can be quickly overcome by the destructive force of investigations and market swings. How greed and lack of oversight can cause the disruption of the livelihoods of employees not directly involved with the unethical behavior. We will examine the events leading up to the bankruptcy of Enron as well as the resulting legislation put into place because of the misdoings of Enron and other companies.
Before Enron became one of the top ten largest companies in the...
4627 words - 19 pages
The Fall of Enron
This research paper talks about the Enron case – how it rose to the level of one of the top companies in the world and then fell from grace so that it eventually had to file for bankruptcy. The paper will discuss the financial and accounting manipulations that Enron resorted to and the analysts approach towards its stock prices and will discuss its eventual fate. The study will revolve around how Enron shed its ethics in an attempt to report ever increasing income and keep its stock prices high and how despite its short-lived surge of growth, it is still, even 11 years after a bankrupt, struggling to stand on its feet. The role of Enron’s top management and...
369 words - 2 pages
The Enron and WorldCom Scandals
1. Which segment of its operations got Enron into difficulties?
The segment of its operations that got Enron into trouble was Kopper and Dodson creating a series of limited partnerships and limited companies through which to operate their interests, but Kopper had no outside investor at risk.
3. Did Enron’s directors understand how profits were being made in this segment? Why or why not?
I do not think Enron’s directors understood how profits were being made in this segment. They were unable to rely on the information they were receiving or on Enron’s company policies being followed. Management was out of control.
5. Ken Lay was the chair of...
1494 words - 6 pages
The Greed and Unethical Behavior at Enron
March 13, 2012
The Smartest Guys in The Room (2005) Enron was one of the largest trading firms in the U.S. It was founded in 1985 by Ken Lay when he began his crusade to help liberate businessmen from government regulation. It remained one of the largest firms up until 2001, when all of their illegal activity was exposed and all of the finger pointing began, and was even voted to be the most innovative companies in 2000 by fortune 5 hundred magazine (First 20 min.). The scandal had broad reach, and included many politicians including WWW.Time.COM (2002) George Bush Sr. and Jr. as well as then Vice President Dick...
1727 words - 7 pages
Widely known as the champion of the energy industry, Enron is suddenly faced with a corporate crisis in the form of a scandal. This scandal involves not only Enron’s accounting practices but also its corporate governance and culture (Lawrence & Weber, 2008). This report will recommend some potential strategies for Enron to move forward from the scandal. To do this, we must incorporate stakeholder theory, which “argues that corporations serve a broad public purpose; to create value for society” (Lawrence & Weber, 2014, p 6.). This means that Enron must take responsibility for the scandal it created and take actions to regain its stakeholders’ confidence. To accomplish this, we...
3314 words - 14 pages
I have selected the non-fiction book named ‘The Smartest Guys in the Room’ written by Bethany McLean and Peter Elkind. The book is based on the The Amazing rise and Scandalous fall of the Enron Corporation. Enron Corporation was an American energy, commodities and service company based in Houston, Texas. Before its bankruptcy in December 2, 2001, Enron employed more than 20,000 employees and was one of world’s major electricity, natural gas, communications and pulp and paper company with claimed revenues of nearly $111 Billion during the year 2000. In 1985 Kenneth Lay (the founder of Enron Corporation) merged the natural gas pipeline companies of Houston Natural gas and...
923 words - 4 pages
Unethical Business Research
May 13, 2013
Unethical Business Research
Unethical business research can be described as many things. From asking inappropriate questions, to using participant information for unintended purposes such as selling goods or services, these acts have caused major scandals in the business world. Good business ethics are the foundation in which a company is built on. All businesses have a code of conduct that is set out by human resources and upper management. This code will set the behavior expectations for employees in their daily tasks and projects for the company. Alliance Capital is among one of major companies that conducted unethical research in...
4672 words - 19 pages
Ethics Case: Arthur Andersen’s Troubles
Once the largest professional services firm in the world, and arguably the most respected, Arthur Andersen LLP (AA) has disappeared. The Big 5 accounting firms are now the Big 4. Why did this happen? How did it happen? What are the lessons to be learned?
Arthur Andersen, a twenty-eight-year-old Northwestern University accounting professor, co-founded the firm in 1913. Tales of his integrity are legendary, and the culture of the firm was very much in his image. For example, “Just months after [Andersen] set up shop in Chicago, the president of a local railroad insisted that he approve a transaction that would have inflated earnings. Andersen told the...
933 words - 4 pages
The Responsibility Project
Ethical principles are something that can address any organizations issues. How to use these ethical principles are what we will address in this article. From the website “The Responsibility Project”, we will see how ethical principles are important in any organization, and how they can shape and change them. From the website, we will be reviewing the film “Good Vibrations”.
Why are the issues in the film important?
Good Vibrations is an animated tale all about a community’s responsibility, and the cost to be complacent. Although the film is more about a community’s responsibility, the issues addressed within the film are the same within organizations and...
819 words - 4 pages
Ethics in business:
Ethics have been defines as the discipline that differentiates between what is good from what is bad. Ethics are a set of moral principle or value. Ethics assist individuals to make moral decisions when faced with any kind of situation. In business, ethics assist individuals in applying ethical considerations when making any decisions. Ethics regarding the carrying on of business have been described as principles and standards of behavior that are expected of individuals in business.
There are various philosophical approaches to decision making in business. One of the most popular philosophical approach to ethics in business is the...
935 words - 4 pages
Power can be defined as the ability to get a person to do something wanted by another person. Power can be seen as exerting control or influencing people. Power puts people in position of authority that controls and affects the employees of an organization (Brown, 2010). People use power on people for different purposes to guide and direct their employees for higher purposes and to conform to the values of the organization; but also to achieve the goals of the organization. Power can be viewed from different aspects, power based on reward purposes, in situation where employees exert their power by rewarding their employees based on their performance whether good or bad. There is coercive...
395 words - 2 pages
Onyebuchi, Vincent. "Ethics In Accounting." International Journal of Business and Social Science. 2.10 (2011): n. page. Web. 6 Apr. 2013. .
Purpose of Reading: My purpose of reading was to find out more about what comes into play in the accounting world ethics wise. I wondered if they used moral principles or if accountants are more strictly business without thinking ethically.
Title: Ethics In Accounting
Author: Vincent N Onyebuchi
Qualified Because: He has written for the International Journal of Business and Social Science. He also has written other scholarly journal articles.
Date of Publication: June 2011
Date Accessed: April 9, 2013
Name of Journal/Publication:...
323 words - 2 pages
This archive file of LDR 531 Week 2 Managerial Organization New Ver contains:
Enron Business Failure
Option 1: Examining a Business Failure
Research a business failure that occurred at a large organization such as Tyco International Ltd., Chrysler LLC, Daewoo Motor America, WorldCom, or Enron.
Write a paper of no more than 1,050 words, describing how specific organizational-behavior theories could have predicted or explained the company’s failure.
Compare and contrast how leadership, management, and organizational structures contributed to the failure.
Format your paper consistent with APA guidelines
Option 2: Small Business Examination Paper
286 words - 2 pages
Benston, G. J. (2006). Fair-value accounting: A cautionary tale from Enron.Journal of Accounting and Public Policy, 25(4), 465-484
Baber, W.R., Fairfield, P.M., & Haggard, J.A. (1991). The effect of concern about reported income on discretionary spending decisions: The case of research and development. Accounting Review, 818-829.
Dechow, P. M., & Sloan, R. G. (1991). Executive incentives and the horizon problem: An empirical investigation. Journal of accounting and Economics, 14(1), 51-89.
Deegan.C.M. (2012). Australian financial accounting. Sydney: McGraw-Hill Australia, 2012:
Feroz, E. H., & Hagerman, R. L. (1990). Management compensation, insider trading and...
2524 words - 11 pages
The Problem with Business
Thesis: In many businesses today ethical decisions take a backseat to profit, I believe businesses should follow a set of ethical standards and not focus solely on profit for four reasons: (1) to have respect for human dignity, (2) private lives and business lives cannot be separated, (3) ethical decisions can lead to more profit, and (4) unethical decisions can lead to serious consequences for the people executing them.
There are many decisions a business must make on a day-to-day basis. Many of these decisions will affect not only the business itself, but also every stakeholder in that business. Many times business will not take into account the number of...
1240 words - 5 pages
Management Planning and Ethics
Axia College of University of Phoenix
MGT 330 Management Theory, Practice and Application
Management Planning and Ethics
Only during the last few decades has planning become a widespread function of management. In the mid-1900s formal planning was only adopted by a few large corporations. Nowadays, aggressive and opportunistic entrepreneurs who run small firms also engage in formal planning (Bateman & Snell, 2009). Planning is directed to set up goals and to decide in advance what actions should be taken in order to achieve the established organizational goals. Planning includes activities...
951 words - 4 pages
How did it cook the books?
Nguyen Bao Khanh
Student ID: FB60162 Class: FB0662
May 19th, 2012
1. WorldCom’s accounting scandal 2. How did WORLDCOM cook its books? 3. Conclusion
WORLDCOM headquarter in Virginia, USA.
WORLDCOM’S ACCOUNTING SCANDAL
WorldCom, established in 1983, whose CEO was Bernard Ebbers, was the second largest long distance phone company in the US after AT&T. It could be seen as a pride of America until it got into one of the biggest accounting scandals in the American history which finally led to its bankruptcy in 2002. On July 21st, 2012, WorldCom filed for bankruptcy, which was worth 103.9 billion USD and became...
1605 words - 7 pages
Good accounting gone bad
Principal of Accounting 1
1. Anatomy of a financial sheet
2. Financial statement errors
c. North Babylon Union Free School District
3. Sarbanes Oxley Act
4. Corporate Accountability
Accounting has been defined as "the language of business" because it is the basic tool for recording, reporting, and evaluating economic events and transactions that affect organizations. For the financial statements to be of value, it is imperative they are accurate and presented in conformity with accounting standards. As a result, it is eminent that the financial statements are accurate,...
518 words - 3 pages
Leg 500 Exam
The best example of a source for virtue ethics for a business Is
Correct Answer: | the corporate mission statement. |
The Ethic of Care is
Correct Answer: | A set of principles that encourage decision makers to look at human relationships as a primary motivator for a decision. |
According to Citizens United v. Federal Election Commission, which of the following is not a reason to allow corporations the right to spend money and advertise for political candidates?
Correct Answer: | The immense wealth of a corporation allows it to be the most accurate in providing messages to people. |
Assuming a business...
2531 words - 11 pages
Corporate governance heavily refers to the whole structure of rights, processes and controls established internally and externally over the management of a business entity with the objective of protecting the interests of its stakeholders from any type of loses incurring.
To begin with, firstly there are three types of auditors in the corporate governances, internal, external and government auditors. The role of the internal auditors in the corporate governance is to evaluates corporate activities, controls or procedures and ensures that they are adequate and in compliance with senior management's recommendations and human resources guidelines.
An internal audit also helps a firm adhere...
2304 words - 10 pages
Summary: Provide a summary of the company, and the facts and issues of the case.
According to Ferrell, the Coca-Cola Company is the world’s largest beverage company, and markets four of the world’s top five leading soft drinks. The company operates the largest distribution system in the world, which enables it to serve customers and businesses in more than two hundred countries. The Coca-Cola Company estimates that about 85 percent of its sales come from outside the United States (Ferrell). Former CEO Roberto Goizueta once said “Coca-Cola used to be an American company with a large international business. Now we are a large international company with a sizable American business”...
529 words - 3 pages
In recent decades, there has been a rising focus on management corporate behaviour, ethical responsibilities, and internal controls due to the increasing number of corporate fiascos. The Arthur Andersen scandal was one of many conducted worldwide and an example of how things can go wrong in the public sector. This report will briefly describe the Arthur Andersen scandal, analyze the major failure elements that led to the scandal, and finally provide recommendations that could have been implemented to prevent these issues.
Overview, Issues, and Recommendations:
The Arthur Anderson Scandal was mainly related to Enron’s scandal and fallout. The accounting firm was responsible...
498 words - 2 pages
Effect of Unethical Behavior
September 2, 2012
Effect of Unethical Behavior
A quote from Ray Beier, a partner of PricewaterhouseCoopers, puts the idea of ethical behavior and its effect on financial statements into perspective. He states, “From the corporate scandals, we now realize that accounting was too rules-based, where it needs to be more principles-or objectives-based” (Bisoux, 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...
642 words - 3 pages
Sales and ethics – an oxymoron?
By Tony Cross, UPSA Chairperson
Tony suggests sales and ethics are compatible. Even if we sometimes don’t think so. Driving sales & revenue targets and remaining ethical in the process is difficult. But essential for sustainability. UPSA has a strong view on ethics and has released the UPSA Buyer's Bill of Rights designed to give buyers a level of confidence in the approach, attitude, consistency and ethics of the selling organisations. Anyone who has picked up the business or financial section of their daily newspaper over the past year has read story after story about unethical behaviour by South African companies. The media’s ongoing coverage of...
2180 words - 9 pages
Sustainable Innovation as a Corporate Strategy
M. Rashid Khan and Mohammed Al-Ansari Intellectual Assets Management, Saudi Aramco, Dhahran 31311, Saudi Arabia. 1. Introduction Something amazing happened in the corporate world. The idea to innovate has captured our imagination. As an example, in 1996, Lucent Technologies’ award winning “Creativity Center” was industries state-of-the art that provided leadership, passion, outstanding marketing, training and communication. Similarly, Enron was the industry “darling” for its innovation program; Enron’s major intranet program “eThink” was recognized with awards for excellence in communication. Yet four years later Enron went bankrupt, the...
494 words - 2 pages
Table of Contents
Parmalat: what went wrong ........................................................................................................................ 1 Story of Parmalat ..................................................................................................................................... 1 Parmalat bankruptcy brief timeline ......................................................... Error! Bookmark not defined. Responsible parties ......................................................................................... Error! Bookmark not defined. Calisto Tanzi, top managers ...................................................................... Error! Bookmark...
3554 words - 15 pages
ASSIGNMENT COVER SHEET
THIS FORM MUST BE COMPLETELY FILLED IN
Please Follow These Procedures: If requested by your mentor, use an assignment cover sheet as the first page of the word processor file. The assignment header should include the Learner’s last name, first initial, course code, dash, and assignment number (DoeJXXX0000-1) justified to the left and the page number justified to the right.
Academic Integrity: All work submitted in each course must be the Learner’s own. This includes all assignments, exams, term papers, and other projects required by the faculty mentor. The known submission of another person’s work...
1680 words - 7 pages
The Role of Ethics in Business Evolution
Reconciling works of Managerial Literature, Business Ethics Writer and Catholic Social Teaching, Domènec Melé argued that a firm should be considered as a wholesome person and suggested the ethical implications of his view (Melé, 2012). The concept that a firm should be regarded as a legal person, and not just a profit seeking entity, was brought forth by the House of Lords in the (Salomon v. A. Salomon & Co. Ltd., 1897) case, paving the way for modern firms. Melé’s argument was revolutionary in that he considered the firm a wholesome person, bearing moral responsibilities for communities that it may potentially affect. This response paper aims...
4077 words - 17 pages
Business Ethics MGM250
New England College of Business and Finance
August 24th, 2012
* Introduction about the course
* United Nations Global Compact’s CSR Principles
* Strategic Management
* Crisis Management
* Climate of Trust
* Creativity, A Climate of Innovation
* Bribery and Corruption
* Unethical Practices
* MNC: Ecological Sustainability
* Renewable Energy Sources – The advantages
* Whistleblowers’ Act
* Discrimination Based on Gender
* Religious Discrimination
This course encouraged us to explored and developed a higher...
3340 words - 14 pages
Code of Ethics
OMM640: Business Ethics and Social Responsibility
Instructor: Erika O'Quinn
Code of Ethics
Perry's Outreach Ministries is a Christian non-profit organization that relies on government funding, and donations from members of the community. Perry's Outreach Ministries provides,counseling, non-perishable food items,clothing housing vouchers and childcare to the battered and abused women and children throughout the community. The overall mission of POM is to minister Gods word through Bible study, professionalism,participants rights to privacy, reliability,honesty and counseling services. The primary mission of the human service profession is...
856 words - 4 pages
The main purpose of studying finance is to gain an understanding of the financial performance of a company, corporation or industry. By looking at a company's financial performance, decisions can be made about many things by many different players. Corporations are rated by different agencies that examine financial records and potential for growth. Fitch ratings are a good example of this. My employer has an A++ Fitch rating. This high rating allows a non-profit company to borrow money at lower interest rates. In a publicly held company, which is one that has shareholders, the main concern is to keep the shareholders happy. Shareholders infuse corporations they believe in (usually based on...
963 words - 4 pages
Mission statements and organizational goals have evolved dramatically over the past twenty years. Once a mission statement was a simple statement that conveyed why the organization existed. Now, that same statement may include information about supporting sustainability and corporate responsibility. This document will look at trends within mission statements and goals.
According to dictionary.com, a goal is defined as the result or achievement toward which the effort is directed. For each goal that an organization sets, it also sets objectives. Objectives are short-term targets with measurable results. Without clearly-defined goals and objectives,...
945 words - 4 pages
The Immelt Revolution
Who is Jeff Immelt?
• Joined GE Plastic in 1982 (MBA from Harvard University)
• Various global leadership positions over year career in
- GE Electronics, GE Medicals, International Marketing
• Elected as CEO to begin tenure in September 2001
• Different personality from J. Welch
- Easygoing, friendly, natural charisma (lead by example)
cf. Jack Welch :Brash, Impetuous, abrasive, feisty
Jeff, breakthrough in the CEO Factory?
Long Term Planning
CEO Candidacy Programme for an
Management Development and
824 words - 4 pages
Financial Statements paper
September 22, 2011
Financial Statements paper
Accounting is an action needed by companies in business. Without accounting and the knowledge of the inner workings of financial statements, a business is doomed to failure. In accounting there are four basic financial statements used for an array of reasons.
The first financial statement in accounting is the balance sheet. The balance sheet is used to represent an illustration at a point of what a business owns and owes; these are also known as assets and liabilities (Kimmel, Weygandt, & Kieso, 2011). The next statement used is the income statement. The income statement displays just how...
770 words - 4 pages
Legality and Ethicality of Corporate Governance
Corporate Governance is control mechanisms that keep management operating within the rules and regulations. Without corporate governance, management could start operating under their own guidelines which may or may not involve integrity, responsibility, or accountability. Publically traded companies are required to have some type of corporate governance in place since the scandals from Enron and WorldCom.
The case study that we are discussing is from United Thermostatic Controls. United has many different divisions and they are all decentralized according to their respected area. The southern division has been gradually decreasing in sales...
868 words - 4 pages
Internal controls are a certain system that includes actions and methods with emphasizing organization’s security and intention to protect its assets and keep the accounting process trustworthy and precise (Weygandt, Kimmel, Kieso, 2008). Protecting a company’s assets is necessary because of the danger resulting from robberies or even employee theft. Improving or keeping the accounting process and records correct is an important factor also because of the risk of unintentional mistakes and intentional inaccuracy.
Prior to 2002, companies were determining their own systems of internal control that could vary in intensiveness and sufficiency. However, after a few wide...
757 words - 4 pages
April 30, 2012
An ethical decision is made up of moral issues and choices. The choices a person makes are ones he or she has to live with despite the moral implications or consequences. There are 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...
4697 words - 19 pages
A Review of the Literature Concerning Ethical Leadership in Organizations
Kelly Monahan Regent University
The following article explores the literature regarding the topic of ethical leadership. Thirty-eight articles were identified that are written by authors who focused on four main topics. These topics are the definition of ethical leadership, the personal integrity and morality of a leader, how a leader ethically influences followers, and current challenges facing ethical leaders. These four topics are explored in further detail within the literature review. Overall, it is found that ethical leadership is complex and a relatively newer field of study. Yet, common themes include the...
4874 words - 20 pages
October 13, 2011
Corporate Responsibility of Sarbanes Oxley Act of 2002
To first understand the corporate responsibilities of the Sarbanes Oxley Act of 2002, otherwise referred to as SOX; you first need to understand that the Act was created for. The SOX came into effect in July 2002 and it was introduced for major changes to the regulation of corporate governance and financial practice. The act was also known as the ‘Public Company Accounting Reform and investor Protection Act of 2002’ in the senate and was called ‘Corporate and Auditing Accountability and Responsibility Act’ in the house. SOX set new and enhanced...
2596 words - 11 pages
Richard Martin Scrushy was born in 1952 in Selma Alabama. Richard is the son to Gerald and Gerri Scrushy. Gerald was a cash register salesman and Gerri was a registered nurse (Watson, 2005, p. 2). Richard worked until he became successful, wealthy, and powerful. He was able to obtain the American dream of family, security and wealth. In 2003, an accounting scandal threatened to change his career, his wealth, and his freedom. The Securities and Exchange Commission (SEC) filed a civil law suit against HealthSouth Corporation and Richard M. Scrushy. The SEC charged that the company inflated their books by $1.9 billion since 1999 (SEC, 2003). The filing of these charges...
1256 words - 6 pages
Re-Branding influence on Customer purchase Decisions
SUBMITTED TO: SUBMITTED BY:
Rahim Munshi Hussain Padrawala
ASSIT. PROFESSOR MBA 2st YEAR (4rd SEM)
I would like to express my gratitude to my supervisor Rahim Munshi for the useful comments, remarks and engagement through the learning process of this report. I would like to thank my loved ones, who have supported me throughout entire process, both by keeping me harmonious and helping me putting pieces together. I will be...
1297 words - 6 pages
Examining A Business Failure
June 25, 2011
Dr. Catherine Garcia
Examining a Business Failure
This paper is about the company Kodak that recently filed for the bankruptcy. Kodak, once a very profitable organization is on the verge of another failure, like Enron, Tyco, etc. This paper will cover how the incorrect management decision lead to its failure. It will compare and contrast leadership, management, and organizational structure that contributed to this failure.
History of Kodak and timeline
George Eastman started Kodak in 1878. In 1888 Eastman presented a first simple camera to the world. He made the complex and complicated process of photography easy and simple...
1279 words - 6 pages
Tyco-ADT is a worldwide supplier of electronic security/fire alarm, communication and building management systems. Tyco-ADT has branch offices in 50 different countries, with over 62,000 permanent employees worldwide and another 32,000 contractors. That number is expected to Grow as Tyco ADT is currently in the middle of a breaking itself down into three different companies (Tyco Integrated Systems, ADT LLC, and Tyco Fire and Security) in an attempt to earn more value. They have recently bout out its main competitor Brinks Home Securities who were operating under the name of Broadview to make this split more successful in terms of providing customers with the products and service they have...
1253 words - 6 pages
The Sarbanes-Oxley Act of 2002 (often shortened to SOX) is legislation enacted in response to the high-profile Enron and WorldCom financial scandals to protect shareholders and the general public from accounting errors and fraudulent practices in the enterprise. The act is administered by the Securities and Exchange Commission (SEC), which sets deadlines for compliance and publishes rules on requirements. Sarbanes-Oxley is not a set of business practices and does not specify how a business should store records; rather, it defines which records are to be stored and for how long (www.searchcio.techtarget.com).
The legislation not only affects the financial side of corporations, it also...
2842 words - 12 pages
Sample Case 1
Ethics and Social Responsibility Case
A New Concern for Human Resource Managers: Whistle-Blowing
Each year Time dedicates a front cover of its magazine to a “Person of the Year.” Last
year, for example, New York City Mayor Rudolph Giuilani was given such an honor for
his handling of New York’s 9/11 terrorist crisis. This year Time expanded its version of
the person of the year. It dedicated its cover to “Persons of the Year.” The magazine
identified three women working in unrelated fields who had at least one common
characteristic—they were all “Whistle-Blowers.”
The term whistle-blower is defined by the third edition of The American Heritage
College Dictionary as...