Caldwell et al. (2006) noted that the duties of stewards were fraught with a complex set of ethical obligations. Many professional codes of ethics or rules are supposed to govern the ways and actions or conduct of laws given by the professionals within a professional business for you. Group of professionals generally sets these rules so that their professional peers see anyone who violations one of these rules of conducts are in violation of this rule as disapproval. The moral ethical standards of a society provide the basic guidelines for corporate ethical stewardship existence and allow us to resolve conflicts by social existence and allow us to resolve conflicts by appeal to shared principles of justification.
Abstract In this essay is to discuss Business Ethics and Corporate Social Responsibility (CSR) by using Anglo-American and Primark as examples. Both companies have a strict policies on ethical behavior which can be used as a catalyst in how to conduct business ethically. Some of the key things I will emphasize what is meant by ethical business. Then I will analyze is how Anglo American and Primark apply ethics into their business. Moreover, The costs and benefits to an organization when they behave ethically.
These pro and cons will have to be measured by risk and how it will effect the company. After the weight of the risk is measured the company will then need to decide on what strategy will be most beneficial and less risky. 1. Analyze the ethical dilemma faced by Antonio. In this case study Antonio work in the Empress Luxury Lines and he faced dilemma regarding the ethic in the work place.
I would discuss the unit with candidate and decide what part of the standards they will be working on. I would also decide what sort of evidence they will be required to produce. 6. How
The next issue is a role of TBTF institutions. Firstly, some businesses that are so large can make up a significant part of an economic sector. So their failure could cause the sector to crash and damage the economy. Secondly, the failure of TBTF companies has the potential to take other businesses down with them, as all companies maintain relationships with partners. When a major source of orders disappears, a
Nichole McCoy – ISAS610 – 9041 Risk Management How does a risk management team work to identify and mitigate risk within a company? University of Maryland University College Graduate School of Management and Technology In the article, “Embrace the Risks,” by Charles Babcock, he discusses how risk is an everyday part of doing business, and must be accurately accessed to stay competitive. Of course, it’s impossible to eliminate risk all together, especially in the insurance or financial services industry. He explains that there is a tendency for companies to try to eliminate the risk, and in doing so, they overspend. For this reason, the only solution is to have a good risk management plan in place that focuses on the larger threats.
(Osmond, 2014) Accountants do not always follow the moral guidelines set out by the company’s managerial accounting and thus creating ethical problems within the business. The resultant effect of not following the set out moral values is that stakeholders lose confidence with the company’s financial stability. Ethics will be important in ensuring that the accountants always prepare the books of account in time and update them in time. The accountants will also be in a position to report correct, accurate and ethical information on the financial position of the organization (Osmond, 2014) Managerial accounting is characterized by forecasting for the future sales of the business. It focuses on the users of the company’s business details.
WHAT ARE INTERNAL CONTROLS AND WHY THEY ARE IMPORTANT? Tabitha Walton Jones AC 201 Accounting Principles I Professor Eddy September 7, 2011 Abstract Every business should be concerned with internal controls. This system is designated to help protect the company’s assets so that it does not suffer any unusual losses. Internal controls are key to any business’s financial and business policies. According to the Internal Audit from Kansas State University, internal controls consists of all the measures taken by the organization for the purpose of; (1) protecting its resources against waste, fraud, and inefficiency; (2) ensuring accuracy and reliability in accounting and operating data; (3) securing compliance with policies of the organization; and (4) evaluating the level of performance in all organizational units of the organization.
Cases like Enron, Madoff and other fraud cases have left companies vulnerable regarding how to resolve potential problems that may be related to fraud. Fraud risk assessments, which is a series of assessments used to determine the likelihood of a member or organization “using deception to make a personal gain dishonestly for oneself and/or create a loss for another (Samociuk & Iyer, 2010).” Through the evaluation of the importance of fraud risk assessment and the elements of a good fraud risk assessment, one can better understand how fraud risk assessments can positively affect the success of a company. Fraud risk assessment is an important element of a successful corporation for several reasons. Most of these reasons revolve around a company's naivete to the potential for fraud. Most corporations state that they did not realize that they had a high risk of fraud, which causes one to ask whether fraud could be prevented (Samociuk & Iyer, 2010).
A further applicable statue is the Food Safety (General Food Hygiene) Regulations 1995. This puts the onus on you to manage all aspects of food safety and to identify how things might go wrong and introduce control measures to prevent that happening. This includes the cleaning regime that you have in place to help maintain hygienic standards and prevent a food safety incident. Under the food and safety act legislation is the responsibility of those operating the food business to ensure that the food produced is safe in terms of biological, chemical and physical hazards. This is a person who has been trained and holds a first aider certificate approved by the health and safety executive for the purposes of the regulations.