As a result of the numerous corporate accounting scandals, The Securities Exchange Commissions had created an order that involves billion dollar companies. The new order requires the CEOs and financial chiefs at companies with more than $1.2 billion in revenue last year to swear under oath in a written statement that the statistics in the recent financial reports are accurate.(The Wall Street Journal)

The SEC has high hopes for this order, and expects to accomplish a few different things. The purpose of this order is to provide greater assurance to the Commission and to the investors that persons have not violated, or are not currently violating the provisions of the federal securities laws governing corporate issuers’ financial reporting and accounting practices. Another principle that the SEC order aims to incorporate is to aid the Commission in assessing whether it is necessary or appropriate in the public interest or for the protection of investors for the Commission to adopt or amend rules and regulations governing corporate issuers’ reporting and accounting practices and or for the Commission to recommend legislation to congress concerning these matters.

Moral philosophy refers to the set of main beliefs guidelines that people use to decide what is “right or wrong”. In the business world, managers take on the responsibility to evaluate the morality of alternative choices with respect of their own. Businesspeople are guided by moral philosophies every day of their lives. With each

specific encounter, a different moral philosophy is kept in mind. When an act is morally acceptable and they produce some desired outcome, such as realization of self-interest or value it is considered to be a teleological philosophy. Situations that define acceptable behavior in terms of the outcome for the individual are considered to be Egoistic. An example of a utilitarianism act is war, where the action benefits the greatest amount of people. The deontology philosophy focuses on the behavior practiced rather than the end result. One who believes in individual and group experiences follows a relativist point of view. Virtue ethics views every situation and defines alternatives according to a set of constants that do not change in response to dynamic cultural norms, rules or other people. Virtue comprises such fundamentals as self-control, trus

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