During the past couple of decades there have been high profile cases of corporate scandals resulting in not only criminal prosecutions of senior executives within the guilty firm, but severe financial loss or even dissolution of the corporation. Most of the ethical lapses within the corporations involved various accounting misrepresentations to cover fraudulent activities. The inherent risks in managing activities in multiple countries with different political systems and cultures pose other ethical challenges.
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As part of his governance and control responsibilities, the CFO of GBATT has asked you to provide a brief overview of the ethical pitfalls to be avoided when managing risks in different countries with different political systems and cultures.
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To complete the overview, do the following:
- Provide a brief description of the Foreign Corrupt Practices Act (FCPA) and recent anti-corruption efforts by International organizations.
- Identify and explain two or three serious consequences for the firm if it fails to comply with the FCPA and other anti-corruptions efforts. Discuss consequences beyond any statutory penalties.
By Saturday, June 4, 2016, post your responses to the appropriate Discussion Area. Through Wednesday, June 8, 2016, comment on at least two of your peers’ responses.
Write your initial response in 300–500 words. Your response should be thorough and address all components of the discussion question in detail, include citations of all sources, where needed, according to the APA Style, and demonstrate accurate spelling, grammar, and punctuation
Do the following when responding to your peers:
- Read your peers’ answers.
- Provide substantive comments by
- contributing new, relevant information from course readings, Web sites, or other sources;
- building on the remarks or questions of others; or
- sharing practical examples of key concepts from your professional or personal experiences
- Respond to feedback on your posting and provide feedback to other students on their ideas.
- Make sure your writing
- is clear, concise, and organized;
- demonstrates ethical scholarship in accurate representation and attribution of sources; and
- displays accurate spelling, grammar, and punctuation.