Controlling_corruption_ss

Controlling_corruption_ss - The Art and IM . warm—5.;...

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Unformatted text preview: The Art and IM . warm—5.; wan-mun MN I)" mlnfl‘u‘, 't awn“:- Torgets and Methods of Corruption in Governance l Transparency - where? I Procedure manaotes — where? l Certification exercises - where? l Aggressive, “opportunistic, prosecu where? l Stewardship stun rds pna ethics ceaes where? Professionalizotion stonaores u where? Democratic governance reforms u where? Peno y hikes ana proliferation - where? Construction of arns—length walls ~ where? or enhanced e' _ight mechanisms I Czars, chief -ps, special inspectors - nese-tollo ang: Chuckie Cheese Some Major Provlslcns of the Sarbaneswoxley Act at 2002: r Iflfln'lpl'lll. Ind and uthur .1 'HE'J‘ .Idil-Jr Barr-L11. and‘l -;.'c'r.-n Wink ¢.J\urJ‘I-:r|:arr|.1llun. n 'n the lulu ufmanage-nulll. J'iJrJ'l-ur EEI’FDL'. u ir all arJ'n'ch-a al: [-urit: L' i :‘I-m: "pm-$1 rrIII.. _|:II Jn in 1:: grams: nnm'a .T' - Return r.If rrpunsa J'l and :tnL'h. “In ur-ufil: by CEO 31d IIFD in u: IL-pnrling rn .znr-IJL .. - Nu neranra' In I: CEIII and d ruckus :1an affinm 1mm .1? r: 11:? may lulu-a Hiardar-u rlwri r|_a. - annmng an 1hr.- nfln-nllwnnss a! I'linrrn. L-nnlrn 3:. . Lima“ [2 -!III"'I Innnfl n; nf lnslrlnr “Thin-g. - Errjlntnfl :rmlnal nan-1'1 : n'lfl'EIl'l':l.l1'l 25 gm rs. - Flat .5: Hal map .. min :Itlmrn Iliulal ull. '_ __ . - .1 Ir: I Lllzlanl. E EIiEtcjrtinq quertea and Other New RFguLutiona I Gaing private [but number so for snail]. I Delaying gr avoiding IP05. rgers. I Skimming slack resnurces inta FE ulntnfi tax,” aFFecti manugewent opportunities. I Shortage at dir _DFS [but so far none]. I Increased airect costs of governance: director fees, insurance. I PC DB serves as entry barrier [won't accept audit reports from non-registered auditors). Effects are same as for any market. I New set of de fac “best practic stanoards. I Lenders, surersl and ' r _ cc pliance before nor ng a.th a conpany.This is costly and tine—consum.1g. and shifts benefits to those companies that Find the least expensivefeasiest ways to comply. I Excessive board and manager I No laws can address noral Failures. ".l'""\ . I The Foreign Corrupt Practices Act (lgrf). Most restrictive of any count ,'s regulati of commercial b ery. Cannot br be a poli Iaking of ial; can make fac'litative payments for r tine government act 5. To corporate off cials become criminally —— just civilly —— liable. I U.S. Federal Sentencing Guidelines [1991. 2364]: To r ke sentencing in white collar cases more un.form and pr: . incentives for compliance.Companies with compliance programs receive reduced penalties. In 2364 this was extended +" require companies to evaluate the effectiveness of compliance programs on a regular basis, promote a culture that supports ethical conduct as well as rote compliance. and establishes the responsibility of top executives and directors for compliance. The Role oF the Ethics Officer The regulations as well as the contexts of recent events, such as the corporate scandals. ho ' led many corportions to create speci corporate positions with responsibili Les to administer ethics programs ano conplionce. ...
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This note was uploaded on 10/22/2009 for the course BUSENV 0060 taught by Professor Barrymitnick during the Fall '09 term at Pittsburgh.

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Controlling_corruption_ss - The Art and IM . warm—5.;...

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