Business Its Legal Ethical & Global Environment
10th Edition
ISBN: 9781305224414
Author: JENNINGS
Publisher: Cengage
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Which of the following MOST likely indicates a clear violation of an NFPO’s code of conduct?
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A situation where a respected individual’s reputation was tarnished by personal decisions is the resignation of David Petraeus, former U.S. military general and head of the Central Intelligence Agency (CIA). On November 9, 2012, Petraeus resigned from the CIA after it was announced he had an extramarital affair with a biographer, Paula Broadwell, who wrote a glowing book about his life. Petraeus acknowledged that he exercised poor judgment by engaging in the affair. When Federal Bureau of Investigation (FBI) agents investigated the matter because of concerns there may have been security leaks, they discovered a substantial number of classified documents on her computer. Broadwell told investigators that she ended up with the secret military documents after taking them from a government building. No security leaks had been found. In accepting Petraeus’s resignation, President Obama praised Petraeus’s leadership during the Iraq and Afghanistan wars and said: “By any measure, through his…
.A city health inspector threatens to close down a restaurant for issuing a fake health notice if the owner does not make a financial payment to the inspector. If the restaurant owner does not cooperate, he will not be able to open for business and the publicity will drive away his customers permanently . Faced with a threat of economic loss the owner makes the payment.▪
what type of fraud is this and what controls can be implemented to prevent or detect fraud ??
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- Controversy tends to surround the topic of whistleblowers. For example, should they be considered heroes or traitors? Many pro-whistleblowing policies have been enacted by the federal government to allow these individuals to reap significant monetary rewards for coming forward and giving information about behaviors and actions such as corporate fraud and unethical deeds. Many corporate whistleblowers face negative consequences of their actions, such as reassignment, revenge, and hate crimes, and are seen as traitors (e.g., Edward Snowden and Gina Gray). Yet Sherron Watkins and Cynthia Cooper were celebrated as heroes. Look up the stories of Sherron Watkins and Cynthia Cooper. Why do you think that some whistleblowers are vilified and others made to be heroes?arrow_forwardMark Buffalo works for a mid-size accounting firm in Boston. One day he overhears a colleague talking to a friend on his cellphone. Mark gasps when he realizes the colleague is sharing one of their client's confidential information, likely as an insider trading tip. As a member of the AICPA, Mark is required to report this discreditable act to the Boston chapter of the AICPA. Select one: True Falsearrow_forwardPlease read the following and identify any internal control principles that may be violated in the Jane Hardware store.(identify what could go wrong and what controls Jane Hardware should put in place to prevent it) Jerry Finch has worked for Jane Hardware for many years, Jerry has been a model employee. He has not taken a vacation in over three years, always stating that work was too important. One of Jerry's primary jobs at the store is to open mail and list the checks received. He also collects cash from customers at the store's outdoor nursery area. There are times that things are so hectic that Jerry does not bother to use the register, simply making change from cash he carries with him. When things slow down at the store Jerry often offers to help Cindy(the Accounting Clerk) post payments to the customer's accounts receivable ledger. Cindy is always happy to receive help since she is also quite busy and because Jerry is such a careful worker.arrow_forward
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- Please describe a time when you were faced with a personal dilemma regarding whether to blow the whistle on a wrongdoing. Some examples of a wrongdoing are witnessing cheating on an exam, witnessing someone trying to steal, noticing someone trying to take advantage of another, and completing a project at work without recording time spent in order to meet time constraints. Who were the stakeholders in the situation and how were they impacted by the wrongdoing? How did rationalization encourage the wrongdoer to follow through with their wrongdoing? What did you do and why?arrow_forwardPlease describe a time when you were faced with a personal dilemma regarding whether to blow the whistle on a wrongdoing. Some examples of a wrongdoing are witnessing cheating on an exam, witnessing someone trying to steal, noticing someone trying to take advantage of another, and completing a project at work without recording time spent in order to meet time constraints. Who were the stakeholders in the situation and how were they impacted by the wrongdoing? How did rationalization encourage the wrongdoer to follow through with their wrongdoing? What did you do and why? Case scenario: for someone working but not clocking in How would this fit under this dilemma? Please explain:arrow_forwardA council health inspector threatens to close down a restaurant by issuing a fake health violation notice if the owner does not make a financial payment to him. If the restaurant owner does not cooperate, the restaurant cannot be opened for business and the negative publicity will drive customers away. Faced with the potential economic loss, the owner makes the payment.arrow_forward
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