Maintaining Ethics in Financial Matters Assignment Help
This assignment provides you with an opportunity to summarize ethics in financial responsibilities and to evaluate ethical considerations of executive compensation by writing a persuasive essay. In your essay, take a position on the following topics, and support it with evidence. Evidence can be facts, statistics, and quotes from scholarly articles, reliable news sources, or even anecdotal examples from personal experience. You may use any of the readings from this course, or you may find new ones to support your position. At least two pieces of evidence should be used (one for each topic).
Do you think executive compensation in its various parts (i.e., salary, stock options, severance packages) funded at the current level is unethical? If so, how would you revise the compensation so that it was just? On what basis would you change it? Does the government have a role to play? If so, in what manner?
Is the Sarbanes-Oxley Act too strict, not strict enough, or just right? Explain.
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Ethics is the common conscious to the human being about what is right and what is wrong based on principals which are normal. This behavior helps the person to be honest, truthful to maintain integrity and to have a respect in society. Maintaining ethics in financial matters play a vital role as this involves the maintenance of capital that was invested by a large group of people. Because nobody wants to invest their money if they are going to be get wasted without reaching them. Ethical behavior in finance is also is very important in developing the economy of the country. For example, so many people will invest their money in banks thinking that they will be safer in banks rather than with them but now we are seeing in so many cases that banks are getting shut down by cheating the people without returning their money. In some other cases, we are seeing the people doing a favor to their own ones by cheating the common people. In banks, they are giving loans very easily to the big shots who are financial fugitives without checking all their background and later when they get lost due to them that loss will be get imposed on the common people and they are becoming victims for that. These types of situations are getting increased day by day but no one is bothering about these and still, they will do the same practice. Another example of like this type is chit fund companies first they will tell all the stories to the people and make them to invest their money in their companies later if they get burdened by any financial issues simple they will raise their hands without returning the money to the people and they will show to the jurisdiction that they can't return anything as they lost everything even though they have the money. Due to these reasons in my opinion, what I feel is there should strict rules legally to punish the people who commit like these offenses when one gets punished the others will also fear to do like those things. Some people will act like whistleblowers and they will get involved in immoral activities like sharing the company's trade secrets and financial matters to the other equal competitors in such a way that they will get the benefits. But no one will realize that if one person engages in such activities due to them all the trust which results in an overall loss to the organization. Due to these reasons, everyone should have a consciousness and should show some loyalty towards the organizations which they are working and especially who are involved in financial management, because the mistakes that are done by them will be get reflected on all the individuals who are working in it and also the organization will lose its reputation. Finally, I want to conclude by saying that if each and every individual follows ethics both in his personal and professional life everything will go on well and no one will get affected.
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