Discuss the below:
Read the article Governance in the Spotlight: What the Sarbanes-Oxley Act Means for You. In this article the author outlines provisions companies are now required to implement. Consider the requirements imposed by Sarbanes-Oxley on corporate boards of directors. Do small businesses and privately held companies have ethical duties?
If so, to whom would they owe this duty? Employees? Customers? Vendors?
Q: Should the law impose ethical requirements on small businesses or privately held companies or can the marketplace police unethical business behavior? Provide support to justify your position.