Problem:
News reports often contain high profile stories about businesses that fail to apply ethical standards to their financial calculations and reporting. Lapses in judgment or deliberately deceptive practices have at times led to the demise of an organization or to a public scandal. What ethics-based practices would you, as a manager, expect of your finance department? What processes and checks would you implement to ensure the application of business ethics, and to detect any variances or lapses in their application?