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Fin 370 Ethics and Compliance Team Paper

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Fin 370 Ethics and Compliance Team Paper
Ethics and Compliance

Team B

FIN/370

May 23rd, 2013
Brian Mom

Ethics and Compliance

Give me a “W”, give me an “A”, give me an “L”, give me a squiggly, give me an “M”, give me an “A”, give me and ‘R”, give me a “T”. What’s that spell? Wal-Mart. Whose Wal-Mart is it? It’s my Wal-Mart! Who’s number one? The customer! Always! ("Wal-Mart China", n.d.). This is the motto and cheers that Wal-Mart lives by. Don’t be surprised if you hear the associates shouting this loudly and proudly at your local Wal-Mart store. It is one way they show pride in the company and how much they value their customers. In 1962, Sam Walton opened his first store, he implanted many principles and values within the company; respect for the individual, service to the customer and striving for excellence were his 3 basic beliefs. Ethics plays a huge role on why Wal-Mart has been successful and as Sam Walton would say, “Just because we work hard, we don’t have to go around with long faces. It’s sort of a ‘whistle while you work’ philosophy and we work better because of it”. “Personal and moral integrity is one of our basic fundamentals and it has to start with each one of us” spoken from Sam Walton talking to his associates about ethics. About 50 years ago Wal-Mart started out as a discount store and has grown into the world’s largest retailer. “The CEO and all Senior Financial Officers are responsible for full, accurate, fair, timely, and understandable disclosure in the periodic reports required to be filed by the Company with the Securities and Exchange Commission” (Walmart Corporate-Governance Documents, 2013). The CEO and Financial Officer have to report any untrue statements or any omission of information pertaining to associates and all areas that affect disclosures made by Wal-Mart in its company findings. The CEO and SFO have to report any deficiencies that could affect associates, financial data or any fraud that is material to internal controls. The CEO and


References: Titman, S., Keown, A. J., & Martin, J. D. (2011). Financial Management. Principles and Applications (11th Ed.). Retrieved from The University of Phoenix eBook Collection. Investor.gov. (n.d.). Retrieved from http://investor.gov/introduction-markets/role-sec U.S. Securities and Exchange Commission. (n.d.). Retrieved from http://www.sec.gov/about/laws.shtml Walmart. (n.d.). Retrieved from http://stock.walmart.com/financial-reporting/sec-filings An Annual Report of Employee Stock Purchase, Savings, and Similar Plans. (2012, July). Wal-Mart China. (n.d.). Retrieved from http://www.walmartchina.com/english/walmart/rule/wmcheer.htm Statement of Changes in Beneficial Ownership of Securities. (2013, April). Walmart. Retrieved from http://stock.walmart.com/financial-reporting/sec-filings NetMBA Business Knowledge Center. (2010). Financial Ratios. Retrieved from http://netmba.com Ratios and Formulas in Customer Financial Analysis. (1999). Retrieved from http://crfonline.org Wal-Mart Corporate-Governance Documents. (2013, MAY). Code of Ethics for the CEO and Senior Financial Officers. Retrieved from http://stock.walmart.com/corporate-governanance/governancedocuments
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