Business Ethics Now Study Set 3

Business

Quiz 6 :
The Role of Government

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Quiz 6 :
The Role of Government

Ethics are part of a persons' behavior. It includes various human values such as equality, human rights etc. The rules and regulations that govern the actions and deeds of a businessman are termed as business ethics. It is a form of applied ethics. It includes various policies. Some of the policies are corporate social responsibility, corporate governance, insider trading etc. For dealing with the situations ethically, it is the duty of every person or firm to deal with every situation morally or to follow the universal principles. In the provided case, highlighting the disadvantages of the companies based in the home country to the foreign competitors is found to be ethical. The reason behind the same is that, in a competitive market, there should be fair competition among the firms. Concealing the facts would not lead to a healthy and ethical competition.

Ethics are part of a persons' behavior. It includes various human values such as equality, human rights etc. The rules and regulations that govern the actions and deeds of a businessman are termed as business ethics. It is a form of applied ethics. It includes various policies. Some of the policies are corporate social responsibility, corporate governance, insider trading etc. The Sarbanes-Oxley Act was enacted in 2002 and it became law in 2003. It was also known as Public Company accounting reform and protection act. This act sets up the new requirements for the Public companies, their board, and management. In the provided case, it has been found that the changes in the act would help in the maintenance of ethics but it is found to be unfair for small companies. Restricting smaller companies to comply with the act without accessing the internal resources is quite unfair as smaller companies already face numerous problems and comparing them with larger companies would create yet another problem for these companies.

Ethics are part of a persons' behavior. It includes various human values such as equality, human rights etc. The rules and regulations that govern the actions and deeds of a businessman are termed as business ethics. It is a form of applied ethics. It includes various policies. Some of the policies are corporate social responsibility, corporate governance, insider trading etc. The Sarbanes-Oxley Act was enacted in 2002 and it became law in 2003. It was also known as Public Company accounting reform and protection act. This act sets up the new requirements for the Public companies, their board, and management. Public company accounting oversight board (PCAOB), being an independent body attempted to re-establish the independence of the auditing companies. In the provided case, PCAOB would never suggest taking the work of a client to whom the firm cannot give adequate time, or is unable to audit it properly. However, asking for a high price just to make the client go somewhere else, is unethical.