Week 2 Team Assignment Fin 370

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  • Topic: U.S. Securities and Exchange Commission, Balance sheet, The Walt Disney Company
  • Pages : 5 (1491 words )
  • Download(s) : 839
  • Published : September 24, 2011
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University of Phoenix
Fin/ 370
Amy Grover
Team D
Mandy Levesque, Justin Bailey, Kristina Papas, Ben Demerdzhyan, Camron Weeden

Introduction
Team D is going to assess the role of ethics compliance, and also describe the procedures and ethical behavior of Disney. Team D is also going to identify Disney’s processes they use to comply with the SEC regulations, as well evaluate and discuss financial performance and financial health.

Assess the role of ethics and compliance in your organization’s financial environment.  Ethics and Compliance are extremely important to the entire Disney Organization and are outlined in great detail. The company has made implemented ethic and compliance standards in relation to all employees as well as Board Directors to ensure that they’re financial environment is not ever compromised. By taking steps that ensure Directors are not misusing proprietary information to obtain financial gains illegally and compromising stockholders best interest. All Directors and Management are held accountable for their financial responsibilities to the company and to stockholders. Disney Company has taken steps to ensure there is an internal process that manages and gauges financial practices within the company. By using the internal process the company ensures that all documentation is accurate as far as reporting expenditures and income for the company. Internal audits are completed to ensure that all financial statements are in compliance with General Accounting Practices.

       Describe procedures your organization has in place to ensure ethical behavior.   Disney has taken great lengths to ensure they are practicing ethical behavior when it comes to their financial environment. Disney Company has a division that was created called Evaluation of Disclosure Controls and Procedures whose sole purpose is ensure that the company is following ethical behavior when reporting files within a timely manner as mandated by SEC regulations. The company conducts periodic audits to ensure that the company is following the Securities Exchange Act. Disney has also implemented “The Walt Disney Company and Associated Companies Insider Trading Compliance Program.” To ensure that all executives and cast members act ethically when dealing with the company’s securities and trading policy. This clause outlines the relationship in which cast members and Directors should follow within the company when dealing with security trading and stockholders interest. It is also outlined that because Disney security is publicly traded the company must stay in compliance with all governing laws concerning reporting all data that is applicable to securities for the general public’s viewing. Failure to do so can result in disciplinary action from within the company and puts the company at great risk for failing to stay within regulated guidelines. *

* Identify processes the organization uses to comply with SEC regulations. The Securities and Exchange Commission was established by the United States Congress under the Securities Act of 1934. One reason the SEC was created is to help ensure that companies are reporting their financial records accurately. Disney just like other corporations is required to comply with the Securities and Exchange C omission (SEC) Regulations. Disney has several processes in place to ensure that they are in compliance with the regulations. Disney has an Audit Committee in place to oversee their financial fillings. Another way that Disney makes sure they comply is by filling out all the necessary forms required by the SEC for example form 10-K . After Disney submits the forms to the SEC they post them on their website for the stock holders to review. Disney also conducted an evaluation on their internal control of financial reporting “based on the framework in the Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway...
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