...staff at the Chinese division of Yahoo! sent information on one of its users, Shi Tao, to the Chinese government. The journalist had been critical of the Chinese government, and, based on the information sent to the government, Shi Tao was sentenced to ten years in prison. In 2010, e-mail accounts housed by Google were hacked. Many of these accounts belonged to human rights activists. Issues like these pose a conundrum for the United States and international entities that are looking to prevent human rights abuses, including violations of privacy, in countries such as China. This paper will evaluate current and proposed efforts to curb such actions by the Chinese government. I propose the following three-pronged approach to deal with these actions: 1) a vigorous naming, blaming, and shaming campaign; 2) the adoption of a uniform policy by the United States government for addressing the Chinese government on these issues; and 3) the development of coherent, enforceable, and specific codes of conduct by trade associations and business groups that discuss issues of censorship and privacy regarding the internet, their customers, and foreign governments. 50 The Public Purpose Statement of the Problem In the mid-2000s, staff at the Chinese branch of Yahoo! sent private information on one of its users, Shi Tao, to the Chinese government. Shi Tao was a journalist who had been critical of the Chinese government in e-mails on his Yahoo! account. Based on agreements that Yahoo...
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...A Review and Analysis of the Sarbanes-Oxley Act Megan Allen Jason Pratt Mike Sogunro LaShaunda Person University of Maryland University College This paper was prepared for AMBA 630, taught by Professor Little and Professor Riley Introduction The Sarbanes-Oxley Act of 2002 was signed into law to protect investors by mandating processes that improved the accuracy and trustworthiness of corporate disclosures made pursuant to the securities laws, and for other purposes. The law was also enacted in response to several major corporate and accounting scandals; two of the most infamous cases are Enron and WorldCom. This research paper will focus on the analysis of four issues and discuss how the Sarbanes-Oxley Act affected the following subjects: A. 1. Audit committees of public company board of directors responsibilities since SOX 2. Sarbanes-Oxley section 404 on internal control 3. The accuracy of public company financial statements and the cost of capital for public companies 4. The main advantages and disadvantages of Sarbanes-Oxley Act B. Can legislation guarantee the accuracy of public company financial statements? Why have previous laws failed? Why CEOs and CFOs are paying so much attention to this law? Audit Committees of Public Company Board of Directors Responsibilities since Sarbanes-Oxley Act Since its enactment, the Sarbanes-Oxley Act (SOX) has significantly increased the authority and responsibilities of audit committees and the board of directors...
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...Financial Reporting Timeline The creation of: 1. Committee on Accounting Procedures Role - With the recent increase in members, the SEC delegated the responsibility of issuing pronouncements on accounting principles to the Committee. The SEC worked with the Committee on Accounting Procedures to develop standards for accounting and financial reporting and issued 51 Accounting Research Bulletins (ARBs) over its lifetime. In 1949, they updated 42 of their original ARBs and codified them. a. History - In 1933, the Special Committee on Development of Accounting Principles was formed by the AICPA. Quite simply, this committee did not get much done and was replaced by the Committee on Account Procedures in 1936. For the first two years, this committee also made very little progress. In 1938, the Securities and Exchange Commission issued Accounting Series Release No. 4 which asserted that any financial statements prepared in accordance with principles that had no substantial authoritative support would be considered inaccurate. This prompted the CAP to expand from 7 members to 21 members and increased its activity. b. Structure – The Committee on Accounting Procedures was committee formed by the American Institute of Accountants after the SEC delegated to it the responsibility of issuing pronouncements on accounting principles without government council. Initially, the CAP wanted to create guidance for solving accounting problems, but did not believe they had enough...
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...financially independent from the CEO and have no familial ties. It also required the CEO and CFO to personally sign all quarterly and annual reports submitted to the SEC and provided for criminal penalties if this was not done. Our research indicates that Sarbanes-Oxley has created more transparency in the system, but it has actually had the opposite effect than was intended with regards to CEO compensation. The research indicates that CEO compensation has increased for many companies post-Sarbanes-Oxley. Due in large part to the Enron scandal, SOX needed to address outside independent audit firms to improve the accuracy of financial reports disclosed by publicly traded companies. These financial reports are used by investors, bankers and interested consumers to determine how well an organization is doing and provide investors with vital information about a company’s performance. This paper will discuss the Sarbanes-Oxley Act and how the SOX law affects outside independent audit firms. Next we review how likely Section 404 of the Sarbanes-Oxley Act would affect internal controls of public companies within the United States. Consideration is given to the size of the company by way of market value and the possible impact of both sections 404 (a) and 404 (b) of the Sarbanes-Oxley Act. Section 404 (a) requires management to disclose its responsibility to establish internal controls to help...
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...adopted by the Board of Directors on 7 May 2013; Amended version adopted by the Board of Directors on 9 October 2014 Preamble “This Code of Conduct is intended to establish and clarify the standards for behaviour in the organisation. However, no Code of Conduct can cover all situations you may encounter. Thus, you need to utilise the following principles where specific rules cannot be established: Decisions made, and actions taken, by you must be consistent with company values and company objectives. Infosys is focused on delivering long-term value to its employees, shareholders and society. It is expected that you will do what is right to support the long-term goals of the company. Infosys competes to win, but only within the framework of integrity, transparency and compliance with all applicable laws and regulations. If you are ever in doubt about a decision, it should be escalated to a higher level of management for broader consideration. Should you ever see a deviation from the above principles, it is expected that you will utilise appropriate channels to report the violation.” INTRODUCTION This Code of Conduct and Ethics (“Code”) helps maintain the standards of business conduct of Infosys Limited, together with its subsidiaries (“Infosys” or the “Company”), and ensures compliance with legal requirements, including with (i) Section 406 of the Sarbanes-Oxley Act of 2002 and the U.S. Securities and Exchange Commission (“SEC”) rules promulgated...
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...Social responsibility and managerial ethics You may be wondering, “Why should I care about corporate social responsibility or managerial ethics or whether or not my employees have health care benefits? Aren’t these the types of issues philosophers worry about?” To answer this question, you only need to pick up a recent newspaper or business magazine. Everything from Wall Street trading scandals to accounting frauds at AIG, Lehman Brothers, Enron, Parmalat, Satyam, WorldCom, Tyco, and Global Crossing to corporate cover-ups and massive oil spills from British Petroleum’s offshore drilling rig explosion in the Gulf of Mexico seem to be in the press daily. For example, Citicorp lost billions in market value when it was revealed that a group of traders in the firm’s London office had manipulated the bond market: A small set of traders disrupted the European bond market by placing 188 sell orders simultaneously (approximately $20 billion worth of bonds) on August 2, 2004 in about 18 seconds. This drove the price of bonds, in general, down dramatically. The prices continued to drop even after the Citibank traders stopped selling. Just a few minutes later, the same traders then bought the bonds back at much cheaper prices than they had been sold. This new buying triggered buying by other traders, and prices rose. In the process, Citibank traders made about $20 million in profits in under five minutes. Although the employees did not do anything illegal, their behavior...
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...Chapter 2: The Political, Legal, and Technological Environment Learning Objectives and Chapter Summary |1. |INTRODUCE the basic political systems that characterize regions and countries around the world and offer brief examples of | | |each and their implications for international management. | | | | | |The global political environment can be understood via an appreciation of ideologies and political systems. Ideologies, | | |including individualism and collectivism, reflect underlying tendencies in society. Political systems, including democracy| | |and totalitarianism, incorporate the ideologies into political structures. There are fewer and fewer purely collectivist or| | |socialist societies, although totalitarianism still exists in several countries and regions. Many countries are | | |experiencing transitions from more socialist to democratic systems, reflecting related trends discussed in Chapter 1 toward| | |more market-oriented economic systems. | |2. |PRESENT an overview of the legal and regulatory environment in which MNCs operate worldwide, and highlight differences in | | |approach to different legal and regulatory...
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...Fortunes Section 1.5 : Financial Fortunes FAIRFAX LTD. Section 2.1 : Corporate Governance Section 2.2 : History Section 2.3 : Credit Ratings MERGERS & ACQUISATIONS Section 3.1 : Legal Structures Section 3.2 : Documentation Section 3.3 : Business Valuation TAKEOVERS Section 4.1 : Types Of Takeover Section 4.2 : Financing a Takeover Section 4.3 : Mechanics Section 4.4 : Strategies Section 4.5 : Agency Problems Section 4.6 : Pros & Cons Laws & Codes used during takeover Section 5.1 : City Code on Takeovers & Mergers Section 5.2 : Competetion Law Section 5.3 : Takeover Directives Section 5.4 : Companies ACT 1985 BLACKBERRY TAKEOVER REGULATORY APPROVAL COMPETETION COMMISION FOR TAKE OVER FCPA Section 8.1 : Provision & Scope Section 8.2 : History Section 8.3 : Requirements Section 8.4 : Application UK BRIBERY ACT TAKEOVER MECHANICS OF BLACKBERRY TAKEOVER CONCLUSION BIBLIOGRAPHY & REFERENCES ACKNOLEGDEMENT I take this opportunity to express my profound gratitude and deep regards to my guide Prof. Deepak Dayal for his exemplary guidance, monitoring and constant encouragement throughout the course of this thesis. The blessing, help and guidance given by him time to time shall carry me a long way in the journey of life on which I am about to embark. I also take this opportunity to express a deep sense of gratitude to Mr. Krishnamurthy, Director, Institute of Management Technology, Dubai for his cordial support...
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...CLAYTON JOHN WILEY & SONS, INC. A GUIDE TO FORENSIC ACCOUNTING INVESTIGATION THOMAS W. GOLDEN, STEVEN L. SKALAK, AND MONA M. CLAYTON JOHN WILEY & SONS, INC. This book is printed on acid-free paper. Copyright © 2006 by PricewaterhouseCoopers LLP. PricewaterhouseCoopers refers to the individual member firms of the worldwide PricewaterhouseCoopers organization. All rights reserved. Published by John Wiley & Sons, Inc., Hoboken, New Jersey. Published simultaneously in Canada. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, 978-750-8400, fax 978-646-8600, or on the Web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, 201-748-6011, fax 201-748-6008, or online at http://www.wiley.com/go/permissions. Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of...
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...Licensed to: iChapters User Licensed to: iChapters User Fraud Examination, Fourth Edition W. Steve Albrecht Chad O. Albrecht Conan C. Albrecht Mark F. Zimbelman VP/Editorial Director: Jack W. Calhoun Editor-in-Chief: Rob Dewey Sr. Acquisitions Editor: Matt Filimonov Associate Developmental Editor: Julie Warwick Editorial Assistant: Ann Mazzaro Marketing Manager: Natalie Livingston Marketing Coordinator: Nicole Parsons Content Project Management: PreMediaGlobal Sr. Manufacturing Buyer: Doug Wilke Production House/Compositor: PreMediaGlobal © 2012, 2009 South-Western, Cengage Learning ALL RIGHTS RESERVED. No part of this work covered by the copyright herein may be reproduced, transmitted, stored, or used in any form or by any means graphic, electronic, or mechanical, including but not limited to photocopying, recording, scanning, digitizing, taping, Web distribution, information networks, or information storage and retrieval systems, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without the prior written permission of the publisher. For product information and technology assistance, contact us at Cengage Learning Customer & Sales Support, 1-800-354-9706. For permission to use material from this text or product, submit all requests online at www.cengage.com/permissions Further permissions questions can be e-mailed to permissionrequest@cengage.com Library of Congress Control Number: 2010940986 ISBN-13:...
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...Code of Business Ethics Third Edition Reprint Third Edition tA B L E o F C o n t E n t S oUR EtHICAL FoUndAtIon, oUR CoRE VALUES And oUR KEy dRIVERS ........................1 Our Code of Business Ethics ..........................................2 We are passionately focused on business results and customer success. ........................................14 Fair Dealing .....................................................................14 SECtIon I EtHICAL BEHAVIoR We uphold the highest ethical standards and are accountable for all we do. .................................5 Antitrust and Competition .............................................5 Anti-corruption and Bribery ..........................................6 Gifts .....................................................................................7 Integrity of Commercial Transactions ..........................7 International Trade Laws ................................................7 We are good citizens, protect employee health and safety, and manage natural resources responsibly. .......................................................8 Our Expectations in Doing Business ...........................14 Competitive Information ..............................................14 SECtIon III oUR CULtURE We treat each other with dignity and respect, and believe in diversity of thought, culture and background. ...............................................16 Our Responsibilities...
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...the Nazi regime and those that discriminated against a person on the basis of race in South Africa and elsewhere) there may be a moral obligation to disobey it under the specific and demanding doctrine of civil disobedience. Many, but by no means all, of these moral standards of conduct are so fundamental to healthy social relations that they have been codified into laws. For example, most aspects of the moral duty to not endanger or harm others are embraced in criminal and civil laws prohibiting homicide, assaults, drunk driving, and other dangerous behavior. Similarly, the ethical duty to be honest is enforceable by laws forbidding perjury, robbery, forgery, fraud, and defamation among others. Nevertheless, in struggling to be an ethical person we need to remember that many forms of dishonesty remain solely within the moral domain....
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...TITLE Social Contracts and Marketing Ethics CITE “Social Contracts and Marketing Ethics,” Journal of Marketing, 63(July): 14-32 1999. AUTHORS Thomas W. Dunfee 1 N. Craig Smith2 William T. Ross Jr. 3 1- The Wharton School, University of Pennsylvania, 3620 Locust Walk, Philadelphia, Pennsylvania, 19036-6369. Phone: 215.898.7691 Fax: 215.573.2006 Email: dunfeet@wharton.upenn.edu. 2- The McDonough School of Business, Georgetown University, Washington, DC, 20057 Phone: 202.687.5405 Fax: 202.687.4031 Email, smithn@gunet.georgetown.edu. 3- School of Business and Management, Temple University, Speakman Hall (006-00), Philadelphia, Pennsylvania, 19122 Phone: 215.204.8111 Fax: 215.204.6237 Email: rossw@sbm.temple.edu. Acknowledgements: The authors thank Thomas Donaldson, Diana Robertson and participants in the Kennedy Institute of Ethics Seminar at Georgetown University, and three anonymous reviewers for helpful comments on earlier versions of this article. Funding by the Carol and Lawrence Zicklin Center for Business Ethics Research and the Georgetown University School of Business summer research fund is gratefully acknowledged. Abstract This paper describes the need and the search to date for a normative moral foundation for marketing. Social contract theory appears promising because of its clear correspondence to the exchange relationships central to marketing thought and practice. It is introduced in a specific formulation known as Integrative Social...
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...Chapter 1 Ethical Reasoning: Implications for Accounting Ethics Reflection PENN STATE CHILD ABUSE SCANDAL: A CULTURE OF INDIFFERENCE What motivates an otherwise ethical person to do the wrong thing when faced with an ethical dilemma? Why did Joe Paterno and administrators at Penn State University look the other way and fail to act on irrefutable evidence that former assistant football coach Jerry Sandusky had raped and molested young boys, an offense for which Sandusky currently is serving a 30- to 60-year sentence? According to the independent report by Louis Freeh that investigated the sexual abuse, four of the most powerful people at Penn State, including president Graham Spanier, athletic director Timothy Curley, senior vice president Gary Schultz, and head football coach Joe Paterno, sheltered a child predator harming children for over a decade by concealing Sandusky’s activities from the board of trustees, the university community, and authorities. The Freeh report characterizes the inactions as lacking empathy for the victims by failing to inquire as to their safety and wellbeing. Not only that, but they exposed the first abused child to additional harm by alerting Sandusky, who was the only one who knew the child’s identity, of what assistant coach Mike McQueary saw in the shower on the night of February 9, 2001.1 McQueary testified at the June 2012 trial of Sandusky that when he was a graduate assistant, he walked into the locker room and heard sounds of slapping...
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...cases you want to include, indicate if there are other course materials you would like to add, and click submit. A Cengage Learning representative will contact you to review and confirm your order. G E T S T A R T E D Visit www.custom.cengage.com/makeityours/knapp7e to make your selections and provide details on anything else you would like to include. Prefer to use pen and paper? No problem. Fill out questions 1-4 and fax this form to 1.800.270.3310. A Custom Solutions editor will contact you within 2-3 business days to discuss the options you have selected. 1. Which of the following cases would you like to include? Section 1: Comprehensive Cases 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 1.9 1.10 1.11 1.12 Enron Corporation Just for FEET, Inc. Jamaica Water Properties Health Management, Inc. The Leslie Fay Companies Star Technologies, Inc. Lincoln Savings and Loan Association Crazy Eddie, Inc. ZZZZ Best Company, Inc. United...
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