Impact of Unethical BehaviorEssay Preview: Impact of Unethical BehaviorReport this essayDepending on the firm, some unethical practices may occur and even go unchecked based on the practices by the management or executives of that said firm or organization. A common issue involving management is the fear of negative reactions from coworkers or peers; this may force employees to act as if things are normal and purposely not notice unethical behaviors. Any form of altering or falsifying business documents (receipts, invoices, accounting reports, etc.) are considered unethical business practices. Whilst the general public believes when a company is unethical it is because of one individual, but at the same time a company as a whole can have unethical practices.
These practices can truly hurt a firm or organization causing countless hours to fix and repair the damage to produce accurate reading. According to an article written by Aveta Business Institute (Six Sigma Online), “An employee working for an employer or company with unethical, deceptive, and dishonest conduct will be directly affected physically and mentally, and may even come down with emotional and health related problems because of it.” To me this can also mean certain companies produce unethical practices and it can cause good employees to practice some poor unethical business behaviors. The main issue here is the loss of sales if consumers find out about an employee or company with bad business practices, the general public will not want to purchase goods or services from an organization with known unethical behavior.
In 2002 the Sarbanes-Oxley act was enacted to protect some of the existing unethical behaviors. This legislation is mainly in place to ensure businesses and organizations follow all existing accounting laws, it allows the system to hold leaders of companies and organizations accountable and also forces said organizations to be accurate with financial statements. Executives are faced with criminal charges including jail time and their accountants as well if they are non-compliant. The main purpose of this act was put into place to promote ethical conduct, honest financial statements that an organization needs to provide, and full and accurate disclosure for their periodic reports. Compliance with their respective government rules and regulations is key and the core of the Sarbanes-Oxley Act.
In 2002 the Sarbanes-Oxley act was enacted to protect some of the existing unethical behaviors. This legislation is mainly in place to ensure businesses and organizations follow all existing accounting laws, it allows the system to hold leaders of companies and organizations accountable and also forces said organizations to be accurate with financial statements. Executives are faced with criminal charges including jail time and their accountants as well if they are non-compliant. The main purpose of this act was put into place to promote ethical conduct, honest financial statements that an organization needs to provide, and full and accurate disclosure for their periodic reports. Compliance with their respective government rules and regulations is key and the core of the Sarbanes-Oxley Act.
In 2002 the Sarbanes-Oxley act was enacted to protect some of the existing unethical behaviors. This legislation is mainly in place to ensure businesses and organizations follow all existing accounting laws, it allows the system to hold leaders of companies and organizations accountable and also forces said organizations to be accurate with financial statements. Executives are faced with criminal charges including jail time and their accountants as well if they are non-compliant. The main purpose of this act was put into place to promote ethical conduct, honesty financial statements that an organization needs to provide, and full and accurate disclosure for their periodic reports. Compliance with their respective government rules and regulations is key and the core of the Sarbanes-Oxley Act.
In 2002 the Sarbanes-Oxley act was enacted to protect some of the existing unethical behaviors. This legislation is mainly in place to ensure businesses and organizations follow all existing accounting laws, it allows the system to hold leaders of companies and organizations accountable and also forces said organizations to be accurate with financial statements. Executives are faced with criminal charges including jail time and their accountants as well if they are non-compliant. The main purpose of this act was put into place to promote ethical conduct, honesty financial statements that an organization needs to provide, and full and accurate disclosure for their periodic reports. Compliance with their respective government rules and regulations is key and the core of the Sarbanes-Oxley Act.
Businesses and organizations face the same law. The Sarbanes-Oxley Act does not affect compliance with state and federal financial laws. They cannot hold them up to the scrutiny or scrutiny of their investors or employees. If their employees are not involved in certain transactions, they cannot report to their employer.
In 1998 the Sarbanes-Oxley Act was amended to provide for a requirement that the financial statements of each company listed on its public corporate information system must be completed by a person with a proven record of satisfactory financial disclosure from a company in which the company is the holder of a certificate from the American Institute of Certified Public Accountants that the financial statements meet the standard for obtaining a certificate of qualification from the United States Consumer Financial Protection Bureau. This requirement was later repealed by the Congress.
In 2004 the Sarbanes-Oxley Act was amended to provide for a law that will recognize non-compliance on account of whether or not it was conducted to