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Ethics Article

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Issue:

Miscellaneous

 

Written by:

Alma D

 

Date added:

January 11, 2011

 

Level:

University

 

Grade:

A

 

No of pages / words:

2 / 526

 

Was viewed:

6454 times

 

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Essay content:

The purpose of ethics in businesses is to direct individuals to abide by a code of conduct that help increase and maintain public confidence in their products and services. Enron and WorldCom have made it clear that the financial markets cannot be left under the tutelage of corporate directors and officers, without oversight authority...
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The corporate abuses and fraud that Enron exemplified, while not a first in the financial markets, were certainly a first in terms of the magnitude of the losses to stockholders and the confidence the public reposed in the financial sector (Bequai, 2003). The Sarbanes Oxley Act of 2002 was instigated as a direct result of the Enron, WorldCom and other accounting scandals in the United States...
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