Question

A closer look into business ethics: Please pick one of the following companies and answer the following questions with as much detail as you can based on your extensive research of the unethical practices that took place.

1. What is the company name?

2. What happened?

3. Who were the main players in the ethical scandal?

4. How did they do it? (Meaning h ow was the fraud or scandal perpetrated?)

5. How did they get caught?

6. What were the assessed penalties?

7. List one (or a few) interesting fact s one may not know about the company or the fraud that took place.

8. What measures could the company (upper level management or employees in general) have done to prevent such fraud?

9. What kinds of internal controls would you put in place to prevent such fraud from taking place again?

10. What steps do you think the accounting profession has taken to prevent such fraudulent activities?

Please choose from the following companies: Saytam (2009)

Answer 1