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• RMIT UNIVERSITY • Sothara Mony, • 3465308 • Ethics and accountability • Tutor : Greg Mcleod • 14. 11. 2015
Brief scandal • OLYMPUS • Accounting fraud ( misleading profit ) • Auditors partly involved • Wrong dismissal resignation • TOSHIBA • Profit inflation ( 1.2 billion ) • Postponed financial record
4 main causes : • Accounting issues: • cookie jar, no disclosure • Legal issues : • misleading the financial statement • Cooperate governance issues: • shaky internal control , utilitarianism issues • Ethical issues : • dishonesty, disloyalty, unethical culture
Comparison to Enron’s scandal • Similarity : • Accounting irregularities • Top officers are the fraud makers • Difference : • Timing • economic condition
Recommendations • Regulation : • Implement professional accounting standard & expertized checking • Government: hold explicit law, merge committees • Codes of conduct • Individual : ethical responsibility and high standard skills/practices • Encourage whistleblowing • lower discretionary power • Stronger ethical guideline
• Thank you.

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Ethical issue

  • 1. • RMIT UNIVERSITY • Sothara Mony, • 3465308 • Ethics and accountability • Tutor : Greg Mcleod • 14. 11. 2015
  • 2. Brief scandal • OLYMPUS • Accounting fraud ( misleading profit ) • Auditors partly involved • Wrong dismissal resignation • TOSHIBA • Profit inflation ( 1.2 billion ) • Postponed financial record
  • 3. 4 main causes : • Accounting issues: • cookie jar, no disclosure • Legal issues : • misleading the financial statement • Cooperate governance issues: • shaky internal control , utilitarianism issues • Ethical issues : • dishonesty, disloyalty, unethical culture
  • 4. Comparison to Enron’s scandal • Similarity : • Accounting irregularities • Top officers are the fraud makers • Difference : • Timing • economic condition
  • 5. Recommendations • Regulation : • Implement professional accounting standard & expertized checking • Government: hold explicit law, merge committees • Codes of conduct • Individual : ethical responsibility and high standard skills/practices • Encourage whistleblowing • lower discretionary power • Stronger ethical guideline