Amazon
Amazon.com
Armando Goytia, Charlenne Burgueno, Daniel Nava, Dana Ortega, Mi Tran
FIN 370
12/17/2013
Professor Andersen
Amazon.com Amazon is one of the largest companies selling products online. They specialize in vendors and/or have individuals send an item to the Amazon company warehouse and Amazon.com can sell the product. This company is versatile and sells all items from sleep wear to cook ware. Basically, vendors, individuals, and Amazon’s warehouse can all sell goods and make it available to do so. Like all companies, Amazon has policies and procedures to protect both the buyer and seller.
Role of Ethics and compliance Amazon’s compliance and role of ethics are of protection and integrity. Knowing that all parties’ interest helps the credibility of the company. Amazon’s corporate communicates this standard through its Code of Business Conduct and Ethics. They enforce ethical compliance through annual audits. Amazon’s corporate also employs the Committee of Sponsoring Organizations of the Treadway Commission (COSO) to evaluate its internal sectors to overlook the financial reporting against mandatory internal criteria. COSO’s studies indicate that the two common fraudulent actions include incorrect revenue recording and asset overstatement (Beasley, Carcello, & Hermanson, 2010). According to COSO’s guidelines, Amazon’s 2010-2011 audits conclude the company’s consolidated balance sheets, operation statements, stocks, and cash flows were in compliance.
Procedures
Procedures that Amazon.com, ensures ethical behavior, is the company governance. In this governance rules need to be regulated. “Amazon.com employees should always act lawfully, ethically, and in the best interests of Amazon.com.”(Amazon.com, 2013). This is the code of conduct within Amazon.com. From reading the codes all topics are covered. For example, it mentions everything from compliance with regulations, laws, conflicts of interest, insider trading policy, harassment,
Armando Goytia, Charlenne Burgueno, Daniel Nava, Dana Ortega, Mi Tran
FIN 370
12/17/2013
Professor Andersen
Amazon.com Amazon is one of the largest companies selling products online. They specialize in vendors and/or have individuals send an item to the Amazon company warehouse and Amazon.com can sell the product. This company is versatile and sells all items from sleep wear to cook ware. Basically, vendors, individuals, and Amazon’s warehouse can all sell goods and make it available to do so. Like all companies, Amazon has policies and procedures to protect both the buyer and seller.
Role of Ethics and compliance Amazon’s compliance and role of ethics are of protection and integrity. Knowing that all parties’ interest helps the credibility of the company. Amazon’s corporate communicates this standard through its Code of Business Conduct and Ethics. They enforce ethical compliance through annual audits. Amazon’s corporate also employs the Committee of Sponsoring Organizations of the Treadway Commission (COSO) to evaluate its internal sectors to overlook the financial reporting against mandatory internal criteria. COSO’s studies indicate that the two common fraudulent actions include incorrect revenue recording and asset overstatement (Beasley, Carcello, & Hermanson, 2010). According to COSO’s guidelines, Amazon’s 2010-2011 audits conclude the company’s consolidated balance sheets, operation statements, stocks, and cash flows were in compliance.
Procedures
Procedures that Amazon.com, ensures ethical behavior, is the company governance. In this governance rules need to be regulated. “Amazon.com employees should always act lawfully, ethically, and in the best interests of Amazon.com.”(Amazon.com, 2013). This is the code of conduct within Amazon.com. From reading the codes all topics are covered. For example, it mentions everything from compliance with regulations, laws, conflicts of interest, insider trading policy, harassment,
References: SEC Filings: Forms You Need To Know. October 2012. Retrieved from http://www.investopedia.com/articles/fundamental-analysis/08/sec-forms.asp Coso. (2013). Retrieved from http://coso.org/ Titman, S., Keown, A. J., & Martin, J. (2011). Financial Management. Principles and Applications (11th ed.). Retrieved from https://ecampus.phoenix.edu/content/eBookLibrary2/content/eReader.aspx.