Business Research RES/351 Business Research Business Research Ethics Ethical behavior has been overlooked in the past, but due to unethical business research, the manners in which businesses are run have changed. Unethical behaviors in business were becoming too common, so government laws and regulations were put in place to help regulate efforts of preventing these unethical practices. Research misconduct is both illegal and unethical. The government defines research miscount as "fabrication, falsification, or plagiarism." Unlike deviations from research methods, misconduct is always deliberate.
The following is the topic for this week's team assignment: The Sarbanes-Oxley Act (SOX) signed into law in July 2002 was intended to improve the accuracy of the financial statements prepared by publicly held companies. Carefully read the summary of this Act. A. Discuss how this law is likely to affects issues of : Audit committees of public company boards of directors Increased the workload and the integrity of these officials has fired some officials and made it a more rigorous job to pursue because of the seriousness of the day to day operations The act created the Public Company Accounting Oversight Board to police the accounting profession and set auditing standards. It shored up the role of the audit committee, making it
Part A: Analysis Business Model Seagate and Deal Rationale #1: Why is Seagate undertaking this transaction? How suitable is an LBO for a technology firm like Seagate, and what are the potential sources of value creation in the transaction? Motivate your answer. The Seagate management believes that the company needs heavy and intensive that are not feasible if Seagate Inc. remains a public company. Other capital re-organizations alternatives involve significant tax liability and considering the present state with Seagate being a public company, tax liability will result in loss of wealth for the shareholders since it involves corporate taxes as well as personal tax liability.
"This agreement gives us the chance to fix what's broken." In an interview, Perrin Beatty, CEO of the Canadian Chamber of Commerce, said the additional red tape and delays "is a serious issue for businesses" and leaves firms from both countries at a competitive disadvantage to offshore competitors. "We need to have action that makes the border more transparent for legitimate travellers and for legitimate cargo," Beatty
Why? If one market crashes it creates a ripple affect, thus effecting Canadians in greater numbers than her current situation. Despite Canada's struggle to regain it's footing economically, Mary Jones claims in her Globe and Mail article that "the Canadian economy has, no doubt, recovered majority of the jobs lost during recession, but the job growth in the nation is still a far cry considering the underlying employment market weaknesses" (Jones, M. p. 1). In addition, Sonya Gulati and Derek Burleton, economists with TD Bank, maintain that the past year had been a good year in terms of job growth in Canada, but, not the best year. And this is especially true for the Canadian provinces of Alberta, Ontario, New Brunswick and Nova Scotia where the employment growth is a still to reach the pre-recession levels (Jones, M. p. 1).
Running head: REFORMING CORPORATE AMERICA Reforming Corporate America Audri Rowell University of Phoenix Law 421 Jerome Tatar August 6, 2012 Reforming Corporate America The recent scandal acts within major corporations will no longer be an easy target. Holding management accountable for reporting financial data is the basis of the Sarbanes-Oxley Act of 2002. Congress has worked to restore the confidence of the nation through this reform. Prior to 2002 a study shows market turmoil with the Crash of 1929 along with the Great Depression to corporate fraud in the 1930s. The Sarbanes-Oxley Act is the first act with provisions to ensure little to no fraud within corporations.
The stress of the audit partner is tremendous and choosing that profession is one that I would prefer not to undertake. The anxiety and pressure to certify that a company’s financial records are in good standing can be daunting. 3.) Independent auditors are sometimes perceived as the “necessary evil” by corporate executives because of the possibility of exposing corruption. To change this point of view an auditor can try to explain their intent to educate and improve the company’s policies, which can in turn lower costs.
The Sarbanes Oxley Act The Sarbanes Oxley Act was passed in 2002 to prevent fraud and discrepancies within the corporate world. Corporate companies have been and will be fined millions of dollars when they are not compliant with the strict guide lines provided by the government. The companies must disclose all financial statement to prevent the tremendous fines. They need to be monitored to keep them honest instead of corrupt. Was this act a step in the right direction to help keep corporations honest?
The endorsement groups offer bribes and ask for unnecessary promises to the politicians running for office. The temptation of falling into these traps is monstrous. According to Obama, these politicians feel that if they do not accept these bribes or arguments then they will lose out on endorsement deals as well as votes. Taking endorsements are not bad in anyway. However, a company endorses a certain individual for reasons such as political similarities or to help promote their product.
Although the rich is being blamed for this tax reform, The Cato Institute’s Edwards say the main loopholes on the individual tax code are actually middle class benefits. Middle class lacks the knowledge of knowing when tax breaks are beneficial to them. The mortgage interest deduction and the exclusion for health care insurance are two benefits for the middle class, but the wealthy folk hire lawyers and accountants to get around, to benefit excessively from these tax code