A Review of CC Verschoor's 'Empty Promises Aren't Enough to Prevent Unethical Behavior'

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Review of C. C. Verschoor's "Empty promises aren't enough to prevent unethical behavior" (2009) by for Title of Course: August 2, 2013 In the wake of the Enron/WorldCom et al. accounting scandals and increasing scrutiny of accounting practices in recent years, it would seem reasonable to suggest that most companies would have taken steps to avoid questionable accounting practices by now. Unfortunately, even major companies continue to engage in unethical accounting practices due in part to the lack of regulatory guidelines that provide hefty criminal penalties for perpetrators. One company that has been cited time and again for its unethical accounting practices in GE, despite the company's efforts to change its ways. This paper provides a review of C. C. Verschoor's essay, "Empty promises aren't enough to prevent unethical behavior" (2009) concerning GE's unethical accounting practices, followed by a summary of the research and important findings concerning these issues in the conclusion. Review and Discussion In 2003, Bhote (2003) reported that GE was already knee-deep in unethical accounting practices. For instance, Bhote emphasizes that, "In the light of the Enron/Andersen scandals, GE is increasingly besmirched as an unethical company for gouging the Defense Department with many overcharges and for engaging in shady accounting practices and auditing irregularities" (2003, p. 324). Despite increasing criticism, GE was apparently unwilling or unable to change its

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