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Ethical Decision Making: Corporate Governance, Accounting, and Finance


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After reading this chapter, you will be able to:

  1. Describe the environment for corporate governance prior and subsequent to the Sarbanes-Oxley Act.
  2. Explain the role of accountants and other professionals as "gatekeepers."
  3. Describe how conflicts of interest can arise for business professionals.
  4. Outline the requirements of the Sarbanes-Oxley Act.
  5. Describe the COSO framework.
  6. Define the "control environment" and the means by which ethics and culture can impact that environment.
  7. Discuss the legal obligations of a member of a board of directors.
  8. Explain the ethical obligations of a member of a board of directors.
  9. Highlight conflicts of interest in financial markets and discuss the ways in which they may be alleviated.
  10. Describe conflicts of interest in governance created by excessive executive compensation.
  11. Define insider trading and evaluate its potential for unethical behavior.










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