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Acc 557 Assignment 1: Review of Accounting Ethics

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Assignment 1: Review of Accounting Ethics
ACC 557
April 27, 2014

Conductive Ethical Behavior
I believe that the current business and regulatory environment is more conductive to ethical behavior. In current times a company’s reputation can determine its success or failure. This has made more company’s own up to their ethical mistakes and behaviors. They are more likely to admit a mistake or failure when an ethical breach has surface in order to save face and keep its reputation. This is evident in the ethical breach I will be writing my paper on.
Organization
Yahoo Inc. is an American multinational internet corporation headquartered in Sunnyvale, California. It is widely known for its web portal, search engine Yahoo Search, and related services, including Yahoo Directory and Yahoo mail (Staff, 2012).
Ethical Breach and Detection
Yahoo hired Thompson as CEO in January 2012. On May 3, 2012 investor Dan Loeb, CEO of Third Point LLC, sent a letter to Yahoo’s Board of Directors (Prnewswire.com). The letter names a Yahoo SEC filing declaring that Thompson holds a Bachelor's degree in accounting and computer science from Stonehill College and that Loeb had reason to believe that the degree was in accounting only. Loeb questioned if Thompson had embellished his academic credentials and also questioned if the Board had failed to exercise appropriate diligence and oversight in one of its most fundamental tasks – identifying and hiring the Chief Executive Officer. Loeb suggests in the letter that Thompson was claiming to have earned a degree in computer science, a more serious charge than embellishing his B.S.B.A. with a non-existent minor.
One official Yahoo biography and the Yahoo SEC filings stated: "Mr. Thompson holds a Bachelor’s degree in accounting and computer science from Stonehill College". Delegation statements filed with the SEC by eBay, Thompson's…...

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