Assignment 1: Review of Accounting Ethics 1. Given the corporate ethical breaches in recent times‚ assess whether or not you believe that the current business and regulatory environment is more conducive to ethical behavior. Provide support for your answer. With the historical amount of fraud that has taken place over the last few decades‚ there had to be a stop of some sort to this type of unethical behavior. Through our class lectures‚ discussions‚ and readings‚ I have learned about the
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References: Buhayar‚ N.‚ & Bunn‚ E. (2013‚ March 20). Sock maker hack shows small-business risk chased by aig. Retrieved from http://www.bloomberg.com/news/2013-03-20/aig-among-insurers-seeking-more-sales-as-service Rang‚ J. (2003‚ September ). Are your it and strategic plans aligned. Retrieved from http://www.asaecenter.org/Resources/articledetail.cfm?ItemNumber=13514
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The Inside Job - Sub Prime Crisis Sub Prime Crisis was the financial crisis which hit the global markets in 2008. This was caused in general because of subprime loans being given out by banks w/o working out the due diligence required to check the credibility of the borrowers. The key cause of the subprime crisis was the instability of the derivatives market. Prior to the housing bubble‚ there was widespread initiative to regulate the derivatives market so as to bring the stability necessary
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The financiers at AIG were awarded millions in bonuses because their contracts were based on the transactions they completed‚ not the consequences of those transactions. A 32-year-old mortgage broker told me: "I figured my job was to get the transaction done…Whatever came after the transaction—that was on him‚ not me." A long list of business executives have reaped sumptuous rewards even though they fractured the world’s economy‚ destroyed trillions of dollars in value‚ and disfigured millions of
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Washington Post named Janet Cooke ‚ a former Journalist‚ and how she went crashing down right after she was just starting to rise up. It also talked about the never –ending discussion about Cooke even after a decade from the fiasco. And how different Journalists viewed the fiasco‚ a decade later. Journalist‚ Janet Cooke‚ won the 1981 Pulitzer Prize for her story on Jimmy ‚ an eight year old who was a heroin addict. But all of Cooke’s success went crashing down when they discovered that Jimmy‚ the
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Only three days after the fiasco‚ the director of Union Carbide‚ Warren Anderson‚ was captured. When he was discharged on safeguard‚ he fled the nation. Despite the fact that his whereabouts were obscure for a long time‚ as of late he was discovered living in the Hamptons in New York. Removal systems have not began as a result of political issues. Anderson keeps on being needed in India for punishable crime for his part in the Bhopal fiasco. One of the most exceedingly terrible parts
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Rode of credit derivatives Credit derivatives – financial instruments that allow one to assume or cede credit risk exposure. Credit derivatives are bilateral contracts between a buyer and a seller‚ whereby the seller sells protection against the credit risk of the reference entity (i.e. corporate‚ sovereign or any other legal entity which incurs debt). Credit derivatives played a major role in the financial crisis of 2008‚ with many banks‚ investment banks and insurers incurring unexpectedly
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Stephanie N. Herr November 30‚ 2008 The Government Bailout‚ Who Benefits? The big three American automobile companies are showing considerable operating loses. GM is losing $1 billion or more a month. How does a capital injection help? The companies will just burn through the cash (using it to pay labor or pay off debts‚ old and new‚ until it is gone). The banks‚ on the other hand‚ that are receiving bailout funds have operating profits‚ they can borrow low and lend high‚ but suffer from
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also employees have become the primary source of competitive advantage. This paper explains the employee engagement in financial institutions such as Scotiabank‚ Royal Bank of Scotland‚ Deutsche Bank‚ YES Bank‚ HDFC Life‚ Standard Chartered Bank‚ Tata AIG General Insurance Co. Ltd.‚ M&T Bank‚ ANZ Bank. Employee engagement builds passion‚ commitment and alignment with the organization’s strategies and goals as well as a highly engaged employee will consistently deliver beyond expectations. Key words:
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“The Neoliberal model of society is breaking down” From the 1980’s up until now‚ the ideas of neoliberalism have reigned supreme in the minds of western policy makers‚ this made it the economic norm of the last 3 or 4 decades. Neoliberalism gave individuals exactly what they desired‚ a life or at least a belief of a life without interference from the state. Recent times suggest that the successes of Neoliberalism are not sustainable‚ with the rise of Donald Trump and Brexit it even looks set to outright
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