Impact of Unethical Behavior

Impact of Unethical Behavior University of Phoenix Financial accounting II ACC 363 James Makofske May 15, 2007 In todays duty world, a telephoner cannot survive unless employees are able to accurately and effectively complete his or her job duties. A company may have a product or service of sour that is essential for everyday life; however, if a company cannot upshot on its employees to complete his or her job ethically, the company as a whole will not be successful. In personal credit line, ethics plays a major subroutine in determine the success of a company. Ethics is the break down of values and impost of a person or throng and covers the analysis and role of concepts such as right and wrong, favourable and evil, and responsibility (Merriam-Webster, n.d.). This opus will discuss an example of how unethical fashion impacts business and how the Sarbanes-Oxley Act has established new or enhanced standards for story and reporting practices. One of the most intimately cognise examples involving unethical behavior is the Enron Corporation scandal. Enron Corporation was previously cognize for being one of the worlds leading electricity, natural flatulence and communications companies but will now always be know for accounting snake oil and corruption.

The company inform inflated estimates of income and did not report all debts that the company owed. In 2001, Enron Corporation fi guide for bankruptcy, which led to criminal investigations of money laundering, insider duty and fraud involving pinnacle executives. Although top level executives at Enron were ap parent aware of the debt and the illegal pra! ctices, the fraud was not revealed to the public until October 2001 when Enron denote that the company was actually worthy $1.2 billion less than previously reported (SecuritiesFraudFYI.com, 2006). When this information was revealed, investors, creditors and stockholders knew something was amiss. This behavior would have continued had it... If you indirect request to get a adept essay, order it on our website: OrderCustomPaper.com

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