Effect of Unethical Behavior Article Analysis W. Jordan Barrick ACT 291 October 8‚ 2012 David Fewkes Effect of Unethical Behavior Article Analysis It is a far different world in the marketplace than just the year 2000. Consumer faith has plummeted‚ military campaigns have begun and ended and time after time large corporations are accused of terrible misconduct before a rapid demise. Whereas the Sarbanes-Oxley Act of 2002 has dealt a tremendous hand for the betterment of ethical
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They are only out for their own agenda and do not care about the unethical practices they are doing to make a profit. General Nutrition Center has a reputation for misleading the general public. In 2004‚ Abbey Spanier Rodd Abrams‚ LLP files a class action lawsuit on behalf of consumers against General Nutrition Center for
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Effects of Unethical Behavior Article Analysis Prior to 2002 there were no regulations enforcing lawful ethical accounting practices. There were also no internal accounting controls which led to the large corporations to commit fraud by altering the books to make them look more profitable. By providing false information and significant omissions in there financial statements investors were enticed into forking up large amounts of money into these corporations. The effect of these actions will
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Impact of Unethical Behavior Article Potential acts leading to unethical practices and behavioral in accounting is evident. These acts are in violation of the Sarbares Oxley Act of 2002 (SOX). A recent article on the student website is reviewed to identify potential factors leading to unethical practices and behavior. The article analyzed is called “Becoming a More Relational Firm in the Post-Sarbans-Oxley Era”. As expressed by the article‚ the effects of SOX has been considered by companies
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when founder Sam Walton created Wal-Mart. It has been the place where a lot of people usually do their shopping for the low prices and variety of products. This is why it is so controversial Wal-Mart continues to grow even with the accusations of unethical business practices. Wal-Mart has been accused of sexual discrimination and unfair pay for employees‚ and destruction of small towns‚ excessive amounts of corporate power through the government and how Wal-Mart is turning into a monopoly. With all
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Impact of Unethical Behavior Article Analysis Over the past decade‚ numerous accounting scandals have been revealed. The impact of the unethical behavior exhibited in these scandals caused the companies that were affected to have a huge financial loss for the company as well as investors‚ collapse‚ or become in a financial crisis (Ashe and Nealy‚ 2010). The Sarbanes-Oxley Act of 2002 was passed “in an attempt to codify the ethical behavior of companies‚ their executives‚ and their management”
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employees and effective management until people found out about corporate fraud. The first to publicly disclose Enron’s financial fallout was Daniel Scotto who in August 2001 issued a report telling investors to sell Enron stocks and bonds at any and all cost. The Enron Corporation and its accounting firm Arthur Andersen that was revealed in late 2001. After a series of revelations involving irregular accounting procedures began throughout the 1990s‚ Enron was on the brink of bankruptcy by November 2001
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Effect of Unethical Behavior Article Analysis Lisa Talley ACC\291 June 10‚ 2013 Eric Oechsner The Securities and Exchange Commission was created in 1934 to police the U.S. financial markets. Today‚ the Securities and Exchange Commission continues to create legislation tightening reporting standards and providing more transparency. Unfortunately‚ increasing standards often comes after a failure of the system. The Sarbanes-Oxley Act of 2002 is a primary example of legislation following
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The Unethical Behavior of Enron Enron‚ once the countries seventh-largest company according to the Fortune 500‚ is a good example of how greed and the desire for success can transform into unethical behavior. Good ethics in business would be to compete fairly and honestly‚ to communicate truthfully and to not cause harm to others. These are things that Enron did not seem to display‚ which led to Enron’s operations file for bankruptcy in 2001. Enron’s scandal has become one of the most talked
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: Impact of Unethical Behavior The impact of unethical behavior is wide spread‚ and does unimaginable damage to people‚ and business alike. The results of unethical behavior on the grandest scale would be Enron‚ Tyco‚ and Global Crossing‚ or WorldCom. Greed led to accounting abuses‚ cover ups and every day people becoming whistle blowers. Manipulating financial reports is illegal and unethical because the financial records are supposed to show the
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