Jamaica Water Properties Case Study

Topics: Auditing, Audit, External auditor, Internal control, Financial audit / Pages: 4 (1411 words) / Published: Mar 7th, 2015
Abigail Rockwell
Due Date: February 15, 2014
Jamaica Water Properties Case Study

During a time in our recent history when greed and self promotion was the benchmark that most financial and managerial directors of companies, both public and private, seemed to strive for, David Sokol stands out above the crowd. Instead of looking to further his own self-image, career, or standing, instead of taking what most people would view as the easy road, Mr. Sokol did the right thing. He chose ethics, morals, and a straight compass to guide his career. Was it an easy road? No, but it was the right one. Would I be able to do the same thing? I would hope so. Although we never know with 100% certainty what we would do in a specific situation, I would hope that I would handle it the same way he did.

David Sokol once said, “If you ever obtain something by lying, it’s worthless. Integrity is the highest order of the day.” I completely agree. One of the most important ways to maintain a good reputation, both personally and professionally, is to have honesty and integrity. Without those attributes, words are meaningless. I also agree with his decision to refuse the “staying on bonus” and leave the company. Although one might wonder if the outcome would have been different if he had stayed on to see them through the difficult period the company had in its future. But, Mr. Sokol knew that accepting that bonus would not have been a very ethical choice given the dire situation he knew Jamaica Water Properties (JWP) was about to be in.

Had JWP fostered an environment where truth-telling and ethical behavior was emphasized, Mr. Sokol might not have been needed. JWP would not have had to go though the scandal and embarrassment that followed. All companies, large and small, should make it easier for others in the organization to have the courage to stand up to wrongdoing. Having a leadership that is open to those of their employees who are knowledgeable of the existence of

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