... retirement accounts, but were prevented from selling it - with the exception of top employees. As a result of Enron filing bankruptcy, 4,000 employees lost their entire retirement funds. The policy was legal, however it was extremely unethical. President Bush has since ordered a review of other companies pension policies to protect other employees from a similar situation. Arthur Andersen was hired to both audit ... , Congress, Bankers, Lawyers, Media, etc were all involved in the success of Enron. These organizations are in place to prevent scandals such as Enron from occurring. It is s...

• Word Count: 1674
• Approx Pages: 7
• Grade Level: High School

... what is ethical. Performing an act that is legal does not necessarily make it ethical. "Being able to distinguish what is permissible and what is the right thing to do is critical in business"(Preventing Business Fraud, 4/02). Obeying the law is required in which a business can run legally, but ethics involves something from another spectrum. Many believed the problems with ... background from ground up is the key to success in today's business world. It must start with identifying all compliance and values drivers, which creates the need to focus on ethics. These drivers must include ...

• Word Count: 2824
• Approx Pages: 11
• Grade Level: High School

... about its audits of Enron. If all of these precautions aren't working, then how can the situation be rectified? Perhaps legal steps can be taken. President Bush signed the Sarbanes-Oxley Act this summer to set the law of the land for ethics programs. The legislation contained several ethics initiatives for public companies, like reducing penalties for convictions when the company had a working ... place. Then on August 1, the New York Stock Exchange issued a new set of rules for listed companies. Among other changes, listed companies must now adopt a code of business conduct and ethics. E...

• Word Count: 1646
• Approx Pages: 7
• Has Bibliography
• Grade Level: High School