Preview

JP Morgan's Code Of Conduct

Satisfactory Essays
Open Document
Open Document
330 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
JP Morgan's Code Of Conduct
The auditors should have raised concerns over several fraud risk factors that were present. There was a perceived ethical disconnect between JP Morgan’s Code of Conduct and the “tone at the top” that upper management created. Jamie Dimon built an environment that allowed employees to do practically anything to achieve more impressive earnings. A special group was permitted to function outside the established business standards. According to Spoehr (2012), this group included individuals with strong personalities and significant clout, and these employees were excluded from ordinary review, oversight, and approval practices in place.
Red Flag #5: Poor Corporate Governance Several weaknesses exist in JP Morgan’s corporate governance structure.
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Powerful Essays

    Case 1.12:Madoff Securities
    • 1261 Words
    • 6 Pages

    Case 1.12:Madoff Securities

    Professional auditing standards discuss the three key “conditions” that are typically present when a financial fraud occurs and identify a lengthy list of “fraud risk factors.” Briefly explain the difference between a fraud “condition” and a “fraud risk factors,” and provide examples of each. What fraud conditions and fraud risk factors were apparently present in the Madoff case?…

    • 1261 Words
    • 6 Pages
    Powerful Essays
    Read More
  • Better Essays

    Sarbanes Oxley Act of 2002
    • 1322 Words
    • 4 Pages

    Sarbanes Oxley Act of 2002

    Descriptions of the main aspects of the regulatory environment which will protect the public from fraud within corporations are going to be provided in this paper. A special attention to the Sarbanes – Oxley Act of 2002 (SOX) requirement; along with an evaluation of whether Sarbanes-Oxley Act will be effective in avoiding future frauds based on their implemented rules and regulations.…

    • 1322 Words
    • 4 Pages
    Better Essays
    Read More
  • Good Essays

    Primer on the Sarbanes-Oxley Act 2002
    • 766 Words
    • 4 Pages

    Primer on the Sarbanes-Oxley Act 2002

    In the beginning years of the new century a series of huge corporate frauds predominated the business sections and front pages of dominant newspapers, shaking public confidence in the integrity of corporate America. Those scandals also raise serious questions about the integrity, acuity and prudence of business leaders and accountants who structure and document business transactions, approve required financial disclosures, and, in the case of accountants, certify the accuracy of required reports (Enrione, Mazza, & Zerboni, 2006).…

    • 766 Words
    • 4 Pages
    Good Essays
    Read More
  • Best Essays

    Pros And Cons Of The Sarbanes-Oxley Act Of 2002
    • 1501 Words
    • 7 Pages

    Pros And Cons Of The Sarbanes-Oxley Act Of 2002

    The Sarbanes-Oxley Act of 2002 (SOX) was established after many corporate scandals such as Enron, WorldCom, and AIG cost investors billions of dollars. Financial fallout from these scandals reduced the American public 's trust in the economy. The enactment of SOX in 2002 holds corporations to higher standards in reporting financial statements to internal and external users. Even though the standards for SOX are still evolving, the new regulatory environment generated in its wake will now protect the public and the market from fraud within corporations. This paper will discuss the main aspects of the SOX Act, its imposed requirements…

    • 1501 Words
    • 7 Pages
    Best Essays
    Read More
  • Powerful Essays

    The Sarbanes-Oxley Act
    • 1677 Words
    • 7 Pages

    The Sarbanes-Oxley Act

    Enron’s failure spotlighted corporate America’s moral failures and tremendously injured those that condoned and benefited from the unethical practices. This failure resulted in a major overhaul of accountability guidelines of the Securities and Exchange Commission and the American Institute of Certified Public Accountants. Code of Ethics was promulgated along with other support mechanisms that monitor a company’s ethics program that extends to the core values of company management and personnel. Of the five components of ethical behavior, honesty is perhaps the most complex and difficult to implement since the ultimate decision to disclose information to the public relies mostly on the individual’s ethical values or interpretations that can be manipulated to produce a desired…

    • 1677 Words
    • 7 Pages
    Powerful Essays
    Read More
  • Satisfactory Essays

    Jon Lebed
    • 393 Words
    • 2 Pages

    Jon Lebed

    The moral tone of the case study we were given to read, written by Michael Lewis, almost seemed to be a defense as to why what Jonathan had done should have been acceptable. Lewis seemed to portray Jonathan as just a kid doing what all financial analyst and stock gurus do daily, but since Jonathan was 15, and doing it well, then the Securities and Exchange Commission was “picking” on him. At times in the story their was a sense on emotional disarray, and no one wanting to be the blame or accept responsibility for the situation, especially between Jonathans, his mother, and father.…

    • 393 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Better Essays

    Sarbanes Oxley Act o
    • 1242 Words
    • 4 Pages

    Sarbanes Oxley Act o

    The American government has taken significant measures to protect the public from fraud with-in corporations. Many federal laws have been enacted, regulatory bodies created and empowered to monitor and enforce those laws. The Sarbanes-Oxley Act, (SOX), of 2002 was an attempt to address several violations to the public trust from corporations that continued to occur despite the previous attempts to govern corporate responsibility to the public. This act specifically tried to reduce unethical corporate behavior and increase public confidence in the financial reporting of corporations (Kimmel, Weygandt, & Kieso, 2011). This paper will address if the requirements of SOX will be enough to prevent future fraud in the corporate environment.…

    • 1242 Words
    • 4 Pages
    Better Essays
    Read More
  • Good Essays

    Jpmorgan Chase & Co.
    • 560 Words
    • 3 Pages

    Jpmorgan Chase & Co.

    JPMorgan Chase runs a smooth business in a strict laid out way to ensure it is ethical. The business even makes the employee take a training to ensure they staying true to the company's values. In addition, they lay out a couple question to ask yourself when faced with tough situations (problems). In their code they urged the need to stay ethical, which is an idea represent throughout The Young Professional’s Survival Guide. The values reflected from their code of conduct include: accountability, ethics, respect. Throughout their code JPMorgan Chase made it clear they wanted to be held accountable for the values they promote throughout this code. The need for the business to hold itself, its customers, and its employees accountable sets it apart from the competition. These are values I hold true to myself. Ensuring I turn in high quality work on time to my professors showcases the value accountability, ethics, and respect because it allows me to make the most of my education while respecting the professor's…

    • 560 Words
    • 3 Pages
    Good Essays
    Read More
  • Powerful Essays

    The Sarbanes-Oxley Act
    • 1217 Words
    • 5 Pages

    The Sarbanes-Oxley Act

    “The paper describes the main aspects of the regulatory environment which will protect the public from fraud within corporations. It pays particular attention to SOX requirements and specifically evaluate whether SOX will be effective in avoiding future frauds” (University of Phoenix, 2014).…

    • 1217 Words
    • 5 Pages
    Powerful Essays
    Read More
  • Satisfactory Essays

    Kranacher ForensicAccounting TestBank Ch03
    • 5289 Words
    • 21 Pages

    Kranacher ForensicAccounting TestBank Ch03

    3-6 Explain the relationship between an employee’s position and the level of theft (according to…

    • 5289 Words
    • 21 Pages
    Satisfactory Essays
    Read More
  • Powerful Essays

    HealthSouth Impact on Stakeholders
    • 1226 Words
    • 4 Pages

    HealthSouth Impact on Stakeholders

    The Board of Directors and Management team engaged in several conflict of interest actions. They were the first company to be charged under the Sarbanes Oxley Act of 2002; which holds financial executives more accountable by making them review and sign the financial statements. The SEC charged and found guilty, fifteen executives with accounting fraud they also admitted that they were a part of the fraud. If they had co-operated with the authorities the fraud would have been detected. Nobody wanted to decrease their wealth that occurred due to their unethical practices. According to (Lublin & Carms, 2003 para1) one of the directors, made a statement that they were not aware of what was going on. Their loss of accountability and transparency is obvious. They became oblivious to the fact that they were cheating investors of millions of dollars. Confusion is apparent because they did not know what was ethical anymore.…

    • 1226 Words
    • 4 Pages
    Powerful Essays
    Read More
  • Better Essays

    The Film Wall Street Ethics Paper.
    • 1179 Words
    • 4 Pages

    The Film Wall Street Ethics Paper.

    This is an ethical review of the film Wall Street (Stone and Weiser). It examines ethical dilemmas Bud Fox faced and what made him vulnerable to crossing the ethical line, as well as what factors led to Fox 's attempt to repair the ethical breach. It examines Gordon Gecko 's thoughts on a person 's vulnerability to making an ethical breach and how this related to Bud Fox. Finally, it will take a look at factors in the film that relate to the Enron and WorldCom cases.…

    • 1179 Words
    • 4 Pages
    Better Essays
    Read More
  • Good Essays

    Goldman Sachs
    • 4002 Words
    • 17 Pages

    Goldman Sachs

    In this report the accusations laid against Goldman Sachs shall be verified according to laws and codes set by financial committees of the UK and USA. The underlining question this report analysis’s is “can a company be profitable while at the same time being responsible and accountable”, since its reason for existence is to create wealth for its shareholders.…

    • 4002 Words
    • 17 Pages
    Good Essays
    Read More
  • Good Essays

    Code of Ethics of Goldman Sachs'
    • 829 Words
    • 4 Pages

    Code of Ethics of Goldman Sachs'

    The code of ethics of the company consists a large portion of text about the general code of ethics which is applied to every individual unit, but it emphasis less on the code for investment banking industry, such as insider dealing, money laundering,…

    • 829 Words
    • 4 Pages
    Good Essays
    Read More
  • Good Essays

    Business Law Code of Conduct
    • 547 Words
    • 3 Pages

    Business Law Code of Conduct

    inviolate or the disclosure of which would be embarrassing or would likely be detrimental to…

    • 547 Words
    • 3 Pages
    Good Essays
    Read More

Related Topics