This preview shows page 1. Sign up to view the full content.
Unformatted text preview: selling on credit or lending money. Taxing authorities: want to know whether the company complies with the tax laws. Customers: whether a company will continue to honor product warranties and support its product lines. Labor Unions: want to know whether the owners have the ability to pay increased wages and benefits. Regulatory agencies: want to know if company is operating within prescribed rules. Ethical Judgement: a sound, well-functioning economy depends on accurate and dependable financial reporting. Economy suffers if investors lose confidence in corporate accounting because of unethical financial reporting. SOX has required companies to certify accuracy of financial information. Penalties are also much more severe now....
View Full Document
This note was uploaded on 03/30/2012 for the course ECO 1111 taught by Professor Xxxx during the Spring '08 term at Kentucky.
- Spring '08