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Exam Review - Exam Review Nestle Case Babies are not...

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Exam Review Nestle Case- Babies are not customers. Customers need money. Foreign countries- Ethical issue, not a legal issue Follow the money- to find out who is a supplier/customer Views of the firm- production view Owners Suppliers Firm Customers Employees Stakeholders SOX Audit independence- if you audit financial statements, you can’t consult for company; there should also be a compensation committee Auditor must change every few years Corporate Governance - must have a financial expert on the auditing committee Also want someone from the outside of company on the board Generally Accepted Accounting Principles -Everyone’s financial statements are the same. Increased penalties/ whistle blower protection- protection and compensation for stepping forward and speaking out on fraud. Regulatory laws Anti Trust Law - Government protects customers by encouraging competition At-Will Doctrine- Can’t fire someone with out reason 3 limits: Contracts
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