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What Are Business Ethics?
Internalized standards guiding what's legal and appropriate in business behavior.
Sarbanes-Oxley Act
Federal law that mandates testing/evaluation of accounting systems.
Assessments & Audits
Evaluate people, books, and operations.
Code of Ethics
Usually follows AICPA (American Institute of Certified Public Accountants) standards.
Violations
Illegal actions = unethical (e.g., theft)
Full Disclosure
All assets, liabilities, and equity must be fully documented.
Conflict of Interest
When personal relationships or interests interfere with professional duties.