Preview

Whistle Blowers

Powerful Essays
Open Document
Open Document
3108 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Whistle Blowers
-------------------------------------------------
Unit 8- Whistleblowing

1. Whistleblowing: Meaning, Kinds, (refer hard copy notes)

Precluding the need for whistleblowing

Note: for ‘precluding the need for whistleblowing’ you may also refer handwritten notes for further insight

2. Marketing Truth and Advertising: Manipulation & Coercion, Allocation of moral responsibility in advertising 3. Trade Secrets

Note: Refer hard copy notes for 1,2,3 or “Business Ethics” by M G Velasquez chapter- 8 (individual in the organization )and chapter-6 (ethics of consumer production and marketing)

4. Corporate Disclosure
The act of releasing all relevant information pertaining to a company that may influence an investment decision. In order to be listed on major Indian stock exchanges, companies must follow all of the Securities and Exchange Board of India’s disclosure requirements and regulations.

To make investing as fair as possible for everyone, companies must disclose both good and bad information. In the past, selective disclosure was a serious problem for investors because insiders would frequently take advantage of information for their own gain - at the expense of the general investing public.

Companies are not the only entities that are subject to strict disclosure regulations. By law, brokerage firms and analysts must also disclose any sort of information that they have that relates to investment decisions. For example, in order to limit conflict of interest issues, analysts must disclose any equities that they own.

As financial reporting and disclosure are potentially important means for management to communicate firm’s performance and value to outside investors, increased disclosure practices will help in reducing information gap between firm and its stakeholders. The main reason behind emphasis on this new emerging issue is that enhanced disclosure and transparency are the twin cornerstones for protecting shareholder’s

You May Also Find These Documents Helpful

  • Good Essays

    Class Make up Case Brie1

    • 818 Words
    • 3 Pages

    Rule of Law: The Whistleblower Protection Act of 1989 is a United States federal law that protects federal whistleblowers who work for the government and report agency misconduct. (www.wikipedia.org/whistleblower.com). The Sarbanes-Oxley (SOX) Act calls for whistleblowing in the context of publicly traded…

    • 818 Words
    • 3 Pages
    Good Essays
  • Best Essays

    FRANCIS, J. R. et al. (2009, Sep). Does Corporate Transparency Contribute to Efficient Resource Allocation? Journal of Accounting Research. Vol. 47.…

    • 3043 Words
    • 13 Pages
    Best Essays
  • Good Essays

    Law 421 Week 1 Summary

    • 1057 Words
    • 5 Pages

    Among other measures, SOX extended the statute of limitations for the SEC to pursue actions and increased penalties at their disposal. SOX changed the balance of power between companies and prosecutors, putting prosecutors in the driver’s seat (Maleski, 2012). With the disclosures made clear and the facts of what is required of public companies, it is easier for agency’s to pursue enforcement. The core values when making disclosures have become clear since SOX extended the statute of…

    • 1057 Words
    • 5 Pages
    Good Essays
  • Good Essays

    As a publicly traded company, we are required to issue a notice to the press regarding any change in the company that may affect the company's stock. Our company is also legally required to disclose whether or not the company has adopted a code of ethics that applies to the CFO. If our company has not adopted an ethics code we must disclose this fact to the public and also explain why we have not done so. Our code of ethics is made available to the public and is in the language that would allow other readers to understand that it is possible to base difficult ethical judgments on the values inherent in the code, instead of just based on the letter of the laws, rules, and regulations. The SEC requires by law that we make available to the public the financial condition of the company and any financial statements that may have gone through the audit process by a certified public accountant.…

    • 563 Words
    • 3 Pages
    Good Essays
  • Good Essays

    The textbook defines full disclosure principle as, “An Accounting principle that dictates that in deciding what information to report, companies follow the general practice of providing information that is of sufficient importance to influence the judgment and decisions of an informed user. It recognizes that the nature and amount of information included in financial reports reflects a series of judgmental trade-offs between sufficient detail that makes a difference to users, sufficient condensation to make the information understandable, and the costs and benefits of providing the information”. Full disclosure principles are hard to enforce because of the cost that is usually associated with such enforcement. “The cost can be substantial and the benefits difficult to assess. Disclosure requirements have increased because of the growing complexity of the business environment, the need for timely information, and the use of accounting as a control and monitoring device”. In some cases, the benefits associated can be easily determined, while the cost is uncertain. In other cases, the cost associated can be easily determined, while the benefit is uncertain.…

    • 577 Words
    • 2 Pages
    Good Essays
  • Powerful Essays

    Rsm220-Week 01 Slides

    • 2259 Words
    • 10 Pages

    Role of Financial Reporting • Financial statements and financial reporting • Accounting and capital allocation •Stakeholders Objective of Financial Reporting •Management bias •Users’ needs Standard Setting • Need to develop standards • Parties involved in standard setting • Standard setting in a political environment GAAP • GAAP hierarchy •Professional judgement • Role of ethics Challenges Facing Financial Reporting • Globalization of companies and capital markets • Impact of technology • Changing nature of the economy • Increased requirement for accountability…

    • 2259 Words
    • 10 Pages
    Powerful Essays
  • Better Essays

    Sarbanes Oxley Act o

    • 1242 Words
    • 4 Pages

    Several laws and regulations have been developed to attempt to control business practices. Corporations must follow rules that were established to protect the public from fraud such as fair practice laws, and regulatory agencies must ensure compliance with these long-standing regulations. The U.S. Securities and Exchange Commission, (SEC), “was developed to help protect investors, maintain fair, orderly, and efficient markets, and facilitate capital information” (U.S. Securities and Exchange Commission, 2015). The SEC was created in 1934 in response to the loss of public confidence in financial markets after the stock market crash of 1929 and the years following the Great Depression. The main goal of establishing the SEC was to restore investor confidence in the markets by providing more precise and reliable information for investors and creating an environment that protected the investor first. Both public and private investors can invest in corporations, and the SEC requires disclosure of meaningful financial information so that those investors can make sound investment decisions (U.S. Securities and Exchange…

    • 1242 Words
    • 4 Pages
    Better Essays
  • Powerful Essays

    Acc 306

    • 907 Words
    • 4 Pages

    Full Disclosure Principle – Calls for financial reporting of any financial facts significant enough to influence the judgment of an informed reader.…

    • 907 Words
    • 4 Pages
    Powerful Essays
  • Good Essays

    confidential or proprietary information about the Company or third parties. Employees, officers and directors must maintain the confidentiality of all information entrusted to them, except when disclosure is authorized or legally mandated. Confidential or proprietary information includes, for example, any nonpublic information concerning the Company, including its business, properties, financial performance, results or prospects, and any nonpublic information provided by a third party with the expectation or…

    • 403 Words
    • 2 Pages
    Good Essays
  • Better Essays

    Staff should be able to voice concerns internally in a responsible and effective manner. Staff should be the first point of contact to consider to raise any concerns. A whistleblower policy reinforces the value placed on the staff to be honest and respected members of their professions. Reporting provides a way of addressing bona fide concerns that employees might have. The protection of all staff from victimization, harassment, or disciplinary action as a result of a disclosure. The disclosure is made in good faith and is not made to intend harm or for personal gain.…

    • 2425 Words
    • 10 Pages
    Better Essays
  • Powerful Essays

    CHAPTER 24 Full Disclosure in Financial Reporting ASSIGNMENT CLASSIFICATION TABLE Topics Questions Brief Exercises Exercises Problems Cases * 1. The disclosure principle; type of disclosure.…

    • 16743 Words
    • 95 Pages
    Powerful Essays
  • Powerful Essays

    Test of Transition

    • 2085 Words
    • 9 Pages

    References: Velasquez, Manuel G. (2006). Business Ethics: Concepts and Case, (6th Ed.). USA: Pearson Education Inc., Upper Saddle, River New Jersey.…

    • 2085 Words
    • 9 Pages
    Powerful Essays
  • Satisfactory Essays

    The securities acts of 1933 and Securities Exchange Act of 1934 prohibit several acts. First, the use of any device, scheme or artifice to defraud, the making of an untrue statement of facts material to the buying and selling of securities, the omission of information would result in a misleading statement, and acts that operate to defraud or deceive the stock purchaser. The hardest element to prove is the intent of the act. It is difficult for prosecutors to prove a criminal specific intent beyond a reasonable doubt. For example, if a company owner doesn’t report correct information to shareholders. It could be difficult for a prosecutor to prove that they did this purposefully or it was just an honest mistake.…

    • 121 Words
    • 1 Page
    Satisfactory Essays
  • Better Essays

    Whistle Blowing

    • 2521 Words
    • 11 Pages

    Write a report explaining the importance of ensuring children and young people's safety and protection in the work setting. The report needs to cover the following sections:Section 1: InductionExplain why it is important to ensure children and young people are protected from harm in the work setting.…

    • 2521 Words
    • 11 Pages
    Better Essays
  • Better Essays

    1. What do you think are some of the factors in the modern workplace that contribute to a theft of time? How can those factors be managed?…

    • 2026 Words
    • 9 Pages
    Better Essays