ip.docx - 1 Ethical Implications Individual Project Phase 2 Ethical Implications of Decisions Martha Constance Taxation and Business

ip.docx - 1 Ethical Implications Individual Project Phase 2...

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1 Ethical Implications Individual Project Phase 2 Ethical Implications of Decisions Martha Constance Taxation and Business Decisions (ACCT618-1901B-01) July 20, 2019
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2 Ethical Implications nit 2 - Individual Project no timely submission of project 20% late penalty assessed Total points earned (rounded): 97 out of 125 (78%). Task Requirements points earned: 22 out of 31 (73%). Demonstration and application of knowledge points earned: 50 out of 69 (73%). Academic writing and format points earned: 25 out of 25 (100%). Strengths: Opportunities for improvement: Additional Comments:paper was to be 1500-200 words Introduction Jefferson Industrial Machine (JIM) is in the middle of the acquisition of Mason Machining, Inc. They want to ensure the highest ethical standards, and as their tax advisor I am responsible for the financial statements and tax reporting. There has been some ethical issues and fraud reported in the media. To educate the corporation on ethical misconducts and penalties that can occur to prepare them and ensure the corporation is prepared. The Sarbanes-Oxley Act was placed into effect in 2002 due to the unethical acts of companies such as Enron and Worldcom. The legislation requires companies to disclose the ethical values that is put in place by the companies’ senior management for the company to operate [ CITATION Fin19 \l 1033 ] . The Securities and Exchange Commission works with Congress to ensure the oversight of public companies [ CITATION Fin19 \l 1033 ] . The SOX Act requires companies to disclose their code of ethics and whether they have any waivers for senior management [ CITATION Fin19 \l 1033 ] .
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3 Ethical Implications A code of ethics is defined as a set of fundamental principles put in place to avoid misconduct[ CITATION Fin19 \l 1033 ]. The U. S. Securities and Exchange Commission has a final rule in place that states registered advisors must adopt a code of ethics set up by supervisory personnel. The code of ethics must address conflicts from supervisory personnel trading
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  • Fall '17
  • Ethics, U. S. Securities and Exchange Commission

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