Ethics and Compliance Paper Fin/370

1357 WordsSep 16, 20126 Pages
Ethics and Compliance Paper FIN/370 Starbucks Coffee Company “To inspire and nurture the human spirit – one person, one cup and one neighborhood at a time ("Starbucks", 2012).” Starbucks mission is to not only provide the highest quality of coffee but also make a positive impact on the world. Ethisphere Institute over the last six years has selected the World’s Most Ethical Companies and Starbucks has made the list every year. What are the key components that make Starbucks one of the most ethical companies in the world? Starbucks has developed the Standard of Business Conduct guide for their financial environment, as well as the behavior of their employees. Starbucks uses strict regulations and a variety of audits to ensure their…show more content…
Starbucks went public in June 1992 ("Starbucks Investor Relations", 2012). Starbucks is traded on NASDAQ under the symbol SBUX. Starbucks uses a variety of organizations and resources to help ensure that the company remains one of the world’s most popular companies. There are process that are put into place within and outside of the company that focus on what can help improve the already business savoy corporation. Starbucks uses an auditing and compliance committee to overlook their financial reports and to help with the auditing process. This committee is in place to ensure that Starbucks’ gives its shareholders with the appropriate financial documentation and to have the accurate procedures for auditing in place. The audit and compliance committee also reviews risk management process, as well as the agreement of the chief executive officers as well as the finance executives with the company’s standards of ethics. The role of Internal auditing in Starbucks’ is to assure and consult the activity that is designed to add more value and to help improve the organizations operations on a daily basis. It establishes objectives by placing a systematic and disciplined approach to help better evaluate and to help improve the effectiveness and control of the company. External audit is done by an outside independent service provider who can provide a vital impact to Starbucks’ by giving a second opinion on things such as accounting records. This

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