Compare different company on ethical and unethical behaviors

User Generated

orggl123

Business Finance

Description

Company 1: WORLDCOM'S COLLAPSE: THE OVERVIEW; WORLDCOM FILES FOR BANKRUPTCY; LARGEST U.S. CASE

Reference for this:Anderson, M. O. (2013, July 1). WorldCom's Betty Vinson and Cynthia Cooper: A tale of two professionals. Retrieved from http://www.readperiodicals.com/201307/3045553661.h...

Company 2:The fall of Andersen

Reference - McRoberts, F. (2002, September 1). The fall of Andersen. Retrieved from the Chicago Tribune Web site: http://www.chicagotribune.com/news/chi-0209010315sep01-story.html

Apa format paper

Apa citations and references

3 or more references in paper

1,000 words must have introduction and conclusion

Title of task:

Using the above companies as examples in your report, complete the following:

  • Explain how two people working for the same company use ethical reasoning to concede to their different ethical or unethical actions and professional decisions (e.g., A Tale of Two Professionals).
  • Explain the role of competence and integrity within the accounting and auditing professional code of ethics.
  • Briefly discuss some of the unethical behavior in management and reasoning that compromised both companies’ ethical principles and values.

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Explanation & Answer

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Running head: UNETHICAL PRACTICES

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Topic: Unethical Practices
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Date:

Unethical Practices

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Contents
Introduction .................................................................................................................................................. 3
Concession to ethical or unethical reasoning ................................................ Error! Bookmark not defined.
The competence and integrity amongst auditors and accounting professionals......... Error! Bookmark not
defined.
Unethical behavior ......................................................................................... Error! Bookmark not defined.
Conclusion ...................................................................................................... Error! Bookmark not defined.

Unethical Practices

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Introduction
Ethical practices within a company are values and principles that guide people in the
decisions and processes that they engage. Companies that have ethical principles have high
chances of success and the good reputation, therefore, putting them in a better position to win
clients than their counterparts that don’t practice ethical principles. The article dwells on two
companies whose unethical behavior brought the entire company.
According to Caroselli, (2013), WorldCom is a telecommunication company that
engaged performed business in the line of telephone services within America following the
deregulation of the sector. At the first stages, the company performed exemplarily and got
enlisted more than once for their move in the Wall Street. Although, in 2002, the company’s
internal audit team discovered that the accounting department had falsified the statements. The
company got declared bankrupt, following a fraud of 11 billion USD.
Andersen is the other company ...


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