Do you recall the corporate accounting scandals on the front page of every newsp

Question

Do you recall the corporate accounting scandals on the front page of every newspaper a few years ago that led to the passage of the Sarbanes-Oxley Act? Would you like to know more about these scandals to better understand the business environment in which we live today?

Please review the link below and you will be able to read more about Enron, Arthur Andersen, etc.

http://www.corporatenarc.com/accountingscandals.php

After reviewing the link above and reading chapter 1, how important is professional ethics?

Explanation / Answer

Yes , I would like to know more about these scandals to better understand the business environment in which we live today . Business environment is basically consisting of all the external and internal factors which influences the business for example its employees,supplier,shareholders, political, economical , cultural, competition etc.

Their is chance to be prepared for the consequences if arrived any if we know more and more about scandals.

We'll also be able to find the loopholes that led to these scandals and work upon it continuously to avoid such massive destruction.

Professional ethics is very important for any company. The lack of professional ethics in the designation of big companies may be the reason of these scandals.

For the long term success of the business , ethics do play a vital role.

If Arthur Andersen the auditor had done his job ethically the company would not have fallen neither shareholders and customers would have suffered so much.

Professional ethics allows the individual not do any unfair practice with the customers as well as the company .

Professional ethics helps in building trust and faith between employees and customers and overall helps in building good reputation of the company.

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