A Lesson in Business Ethics for Financial Managers

Excerpts from the Paper

A Lesson in Business Ethics for Financial Managers
Introduction
The article titled: Corporate Conflicts of Interest by Demski (2003) provides an accurate overview of corporate wrongdoing by ignoring sound practices of internal controls to protect conflicts of interest. Demski paints a broad picture of how modern day corporations with a plethora of financial tools to safeguard the corporation have gone array. Companies hire external auditors for the sake of accountability and financial responsibility to ensure that corporate executives are indeed safeguarding the assets and profits of their organizations. Yet, we find executive officers, including their auditors and board members are very similar to pirates raiding cargo ships.Demski (2003)...

.....transparency within the organization.
References
Albrecht, W. S., Stice, J. D., Stice, E. K., & Swain, M. R. (2007). Accounting concepts and applications. Mason: Thomson South-Western.
Demski, J. S. (2003, Spring). Corporate Conflicts of Interest. Economic Perspectives, 17(2), 51-72. Retrieved from http://www.rau.ro/intranet/JEP/2003/1702/17020051.pdf
Engel, E., Hayes, R. M., & Wang, X. (2007, September). The Sarbanes Oxley Act and Firms’ going-private decisions. The Journal of Accounting and Economics, 44(1/2), 116-145. doi:10.1016/j.jacceco.2006.07.002
U.S. Securities and Exchange Commission. (n.d.). The Laws That Govern the Securities Industry: Sarbanes-Oxley Act of 2002. Retrieved from http://www.sec.gov/about/laws.shtml#sox2002