The Third Ethical Issue Of Tyco Case - 1695 Words

The third ethical issue in Tyco case that relate to conflict of interest is accounting fraud. Accounting fraud can be described as any act or attempt to manipulate the financial statement for financial gain. It can be one of the legal issues in this case because it consists of fraud which is unlawful in written law. The conflict of interest arises in this case because the auditors, accountants, and executives of Tyco International erode trust and their personal interest has greatly varied with the interest of shareholders and the stakeholders in Tyco. They tend to sacrifice the quality of financial reporting information for their personal interest. In this case, Tyco International failed to give true financial picture for several years. Dennis Kozlowski, Mark Swartz and Mark A. Belnick were those Tyco’s executives who committed fraud by charged with falsifying business record to conceal a great amount of loan without approval. Besides, it had been found out that Tyco engaged in â€Å"financial gimmicky† to deliberate and manipulating its earnings. Jerry Boggess, the president of Tyco Fire and Security is the one who involved in bookkeeping fraud that affected the earning per share in Tyco in this case. Besides, Dennis Kozlowski also indicted on tax evasion for avoiding just over $1 million in New York State and local sales tax (Andrew and Alex, 2002). In addition, Scalzo (Tyco’s former auditor) who audited Tyco s financials from the years 1997 until 2001, found that he failed toShow MoreRelatedThe Scandal Have Paid For Their Unethical Behavior Essay850 Words   |  4 Pagesconvicted on 22 counts of grand l arceny, falsifying business records, securities fraud and conspiracy, sentenced from eight and one-third years to twenty-five years in prison, and ordered by State Supreme Court Justice Michael Obus to pay a total of $134 million in restitution, in addition of $70 million and $35 million fines respectively (Associated Press, Ex-Tyco Executives†¦). Belnick, the former general counsel, shelled out $100,000 to settle charges with the U.S. Securities and Exchange CommissionRead MoreNestle Business Ethics1126 Words   |  5 Pagesformula in third world countries. This was a problem, because the baby formula needed to be mixed with boiled water due to the polluted water supply in such countries. Not only were sterilization directions not written clearly for users of this product, uneducated mothers were not unformed of this condition, thus putting their children at risk by mixing baby formula with unsanitary polluted water. Nestlà ©Ã¢â‚¬â„¢s response was that critics should be comp laining about the unsafe water supply in these third worldRead MoreThe Price of Unethical Behavior1727 Words   |  7 Pagesgrasp of the moving up and decline of a CEO, also the outcome of the events taken place. It is also of importance that the steps that could be taken to ensure that this type of mishaps does not occur again. Brief History of Tyco and Kozlowski Before it, all began the company Tyco was already a 1.5 billion dollar company. Though not as large as they would eventually get under the direction of Kozlowski (Kaplan, D. A. 2009). However, they were not a small fry company. Once taken over by the once highlyRead MoreTyco International Scandal : Case Analysis3560 Words   |  15 Pages TYCO INTERNATIONAL SCANDAL A CASE STUDY Soubhagya Ranjan Swain(14B149) 1st Semester BBALLB ABSTRACT TYCO INTERNATIONAL SCANDAL Tyco international is the world’s largest maker and servicer of electrical components. Former CEO Dennis Koslowski, former CFO Mark Swartz and former General Counsel Mark Belnick were accused of giving themselves interest free or very low interest loans and also took money disguised as bonuses,that were never approved by the Tyco board or repaid.There existedRead MoreMost of the leaders are running ethical companies, but there are some of businesses running1800 Words   |  8 PagesMost of the leaders are running ethical companies, but there are some of businesses running unethical companies that caused company to break down for some reasons. One of the problems of this is that some of the leaders lied, and they act in a manner that is entirely unlawful or wrongful. Much more often, employees break ethics rules because top executives tend to act in an unethical behavior. Moral compass is anything which serves to guide a persons decisions based on morals or virtues which meansRead MoreCase Analysis : Responsibility Essay1359 Words   |  6 PagesCase Analysis Reasons and Rationalizations: †¢ Isolation Incident – â€Å"This is a one-time event, the reason we are doing it it’s to get the maximum bonus.† †¢ Locus of Responsibility – â€Å"You are not going to be responsible for this decision, you are just following the order.† †¢ Locus of Loyalty – â€Å"If you do not recognize the revenue now, we will not get the maximum bonus for the quarter. Think about the other employees that are in need of the bonus.† †¢ Materiality – â€Å"This is not material; we are justRead MoreSample Resume : Effective Fcpa Program1299 Words   |  6 Pagescompliance program Proper training of employees, company officer and third parties on relevant laws and compliance program Monitoring and Evaluating; Anonymous Reporting Company must periodically assess the risk of criminal conduct and take appropriate steps to design, implement, or modify its compliance program Require prior approval of facilitation payments Prohibit all facilities payments in the absence of safety concern Prohibit third party from giving gifts or payments in violation of FCPA AnswerRead MoreTyco Scandal Essay9472 Words   |  38 PagesPart 1- Facts of the Case Prior to the Tyco scandal, the company was one of Americas largest conglomerates, with operating revenues of 38 billion dollars and 240,000 employees, worldwide. Tyco Laboratories began operations in 1960, performing experimental work for the U.S. government. The firm went public in 1964 and quickly expanded, mostly by acquisition, to exploit the commercial applications of its work. Dennis Kozlowski joined the company in 1975 as an assistant controller. The company subsequentlyRead MoreExcello Commuminations1426 Words   |  6 Pagespresent in all material respects the financial condition and results of operations of the issuer as of, and for, the periods presented in the report†. (Section 302:Corporate Responsibility for Financial Reports, sec. 302.3, Sept. 14, 2014) In the case of scenario one, the CFO would be falsely certifying that the financial documents are true and accurate. The CFO can be held accountable for these misstatements, even facing fines and jail time, acc ording to section 906 of the SOX act. The law isRead MoreCorporate Governance Benchmarking Paper6593 Words   |  27 PagesBusinesses in today’s society must be aggressive and competitive to meet the demands of consumers. The corporate culture must be one of shared beliefs with expectations and values that influence and guide the thinking of individuals in a positive and ethical manner. As each organization’s success depends on profitability and productivity, the magnitude of success or failure can be controlled by a few bad apples within the organization. Organizations capable of misleading, cheating and fraud have been

A Brief History of the KGB and Its Origins

If you grafted the Central Intelligence Agency (CIA) with the Federal Bureau of Investigation (FBI), added a few hefty tablespoons of paranoia and repression, and translated the whole megillah into Russian, you might wind up with something like the KGB. The Soviet Unions main internal and external security agency from 1954 until the breakup of the U.S.S.R. in 1991, the KGB wasnt created from scratch, but rather inherited much of its techniques, personnel, and political orientation from the greatly feared agencies that preceded it. Before the KGB: The Cheka, the OGPU  and the NKVD In the aftermath of the October Revolution of 1917, Vladimir Lenin, the head of the newly formed U.S.S.R., needed a way to keep the population (and his fellow revolutionaries) in check. His answer was to create the Cheka, an abbreviation of The All-Russian Emergency Commission for Combating Counter-Revolution and Sabotage. During the Russian Civil War of 1918-1920, the Cheka — led by the one-time Polish aristocrat Felix — arrested, tortured, and executed thousands of citizens. In the course of this Red Terror, the Cheka perfected the system of summary execution used by subsequent Russian intelligence agencies: a single shot to the back of the victims neck, preferably in a dark dungeon. In 1923, the Cheka, still under Dzerzhinsky, mutated into the OGPU (the Joint State Political Directorate Under the  Council of Peoples Commissars  of the U.S.S.R. — Russians have never been good at catchy names). The OGPU operated during a relatively uneventful period in Soviet history (no massive purges, no internal deportations of millions of ethnic minorities), but this agency did preside over the creation of the first Soviet gulags. The OGPU also viciously persecuted religious organizations (including the Russian Orthodox Church) in addition to its usual duties of rooting out dissenters and saboteurs. Unusually for a director of a Soviet intelligence agency, Felix Dzerzhinsky died of natural causes, dropping dead of a heart attack after denouncing leftists to the Central Committee. Unlike these earlier agencies, the NKVD (The Peoples Commissariat for Internal Affairs) was purely the brainchild of Joseph Stalin. The NKVD was chartered around the same time Stalin orchestrated the murder of Sergei Kirov, an event he used as an excuse to purge the upper ranks of the Communist Party and strike terror into the populace. In the 12  years of its existence, from 1934 to 1946, the NKVD arrested and executed literally millions of people, stocked the gulags with millions more miserable souls, and relocated entire ethnic populations within the vast expanse of the U.S.S.R. Being an NKVD head was a dangerous occupation: Genrikh Yagoda was arrested and executed in 1938, Nikolai Yezhov in 1940, and Lavrenty Beria in 1953 (during the power struggle that followed the death of Stalin). The Ascension  of the KGB After the end of World War II  and before his execution, Lavrenty Beria presided over the Soviet security apparatus, which remained in a somewhat fluid state of multiple acronyms and organizational structures. Most of the time, this body was known as the MGB (The Ministry for State Security), sometimes as the NKGB (The Peoples Commissariat for State Security), and once, during the war, as the vaguely comical-sounding SMERSH (short for the Russian phrase smert shpionom, or death to spies). Only after the death of Stalin did the KGB, or Commissariat for State Security, formally come into being. Despite its fearsome reputation in the west, the KGB was actually more effective in policing the U.S.S.R. and its eastern European satellite states than in fomenting revolution in western Europe or stealing military secrets from the U.S. (The golden age of Russian espionage was in the years immediately following World War II, before the formation of the KGB, when the U.S.S.R. subverted western scientists in order to advance its own development of nuclear weapons.) The major foreign accomplishments of the KGB included suppressing the Hungarian Revolution in 1956 and the Prague Spring in Czechoslovakia in 1968, as well as installing a Communist government in Afghanistan in the late 1970s; however, the agencys luck ran out in early 1980s Poland, where the anti-Communist Solidarity movement emerged victoriously. All during this time, of course, the CIA and the KGB engaged in an elaborate international dance (often in third-world countries like Angola and Nicaragua),  involving agents, double agents, propaganda, disinformation, under-the-table arms sales, interference with elections, and nighttime exchanges of suitcases filled with rubles or hundred-dollar bills. The exact details of what transpired, and where, may never come to light; many of the agents and controllers from both sides are dead, and the current Russian government has not been forthcoming in declassifying the KGB archives. Inside the U.S.S.R., the attitude of the KGB toward suppressing dissent was largely dictated by government policy. During the reign of Nikita Khrushchev, from 1954 to 1964, a certain amount of openness was tolerated, as witnessed in the publication of Alexander Solzhenitsyns Gulag-era memoir One Day in the Life of Ivan Denisovich (an event that would have been unthinkable under the Stalin regime). The pendulum swung the other way with the ascension of Leonid Brezhnev in 1964, and, especially, the appointment of Yuri Andropov as the head of the KGB in 1967. Andropovs KGB hounded Solzhenitsyn out of the U.S.S.R. in 1974, turned the screws on the dissident scientist Andrei Sakharov, and generally made life miserable for any prominent figure even slightly dissatisfied with Soviet power. The Death (And Resurrection?) of the KGB In the late 1980s, the U.S.S.R. began to fall apart at the seams, with rampant inflation, shortages of factory goods, and agitation by ethnic minorities. Premier Mikhail Gorbachev had already implemented perestroika (a restructuring of the economy and political structure of the Soviet Union) and glasnost (a policy of openness toward dissidents), but while this placated some of the population, it enraged hard-line Soviet bureaucrats who had grown accustomed to their privileges. As might have been predicted, the KGB was at the forefront of the counter-revolution. In late 1990,  then-KGB head Vladimir Kryuchkov recruited high-ranking members of the Soviet elite into a  tight-knit conspiratorial cell, which sprang into action the following  August after failing to convince Gorbachev to either resign in favor of its preferred candidate or declare a state of emergency. Armed combatants, some of them in tanks, stormed the Russian parliament building in Moscow, but Soviet President Boris Yeltsin held firm and the coup quickly fizzled out. Four months later, the U.S.S.R. officially disbanded, granting autonomy to the Soviet Socialist Republics along its western and southern borders and dissolving the KGB. However, institutions like the KGB never really go away; they just assume different guises. Today, Russia is dominated by two security agencies, the FSB (The Federal Security Service of the Russian Federation) and the SVR (The Foreign Intelligence Service of the Russian Federation), which broadly correspond to the FBI and the CIA, respectively. More worrisome, though, is the fact that Russian President Vladimir Putin spent 15 years in the KGB, from 1975 to 1990, and his increasingly autocratic rule shows that he has taken to heart the lessons he learned there. Its unlikely that Russia will ever again see a security agency as vicious as the NKVD, but a return to the darkest days of the KGB is clearly not out of the question.

Essay on Jeremy Bentham Influence on Future - 1290 Words

Essay on Jeremy Bentham’s influence Jeremy Bentham was born in 1748 in London, England. He was a utilitarianist, which is the idea that the right judgment is the judgment that brings the most happiness. Also an Atheist, Bentham was seen as the person who popularized utilitarianism. Bentham believed we could quantify or measure pleasure. He helped found the London College, in which his body was embalmed and used as a reminder of himself, and wrote many books on utilitarianism and found the best way to influence a decision was through pamphleteering. He died in 1832 in England. Even though he died, Jeremy Bentham left a legacy behind him. His ideas are still relevant many years after his death. Jeremy Bentham’s ideas changed the political†¦show more content†¦He also believed, â€Å"No power of government ought to be employed in the endeavor to establish any system or article of belief on the subject of religion.† (Duignan, 200) Bentham strongly believed in the separation of church and state and he tried to stop the government to be too Christian related. Bentham revolutionized prisons and made them both more affective and hospitable. Bentham designed a type of prison watch tower called the panopticon. The panopticon design allowed observers in an institution to keep an eye on the inmates without the inmates knowing. (Warburton, 124) The English parliament promised to construct the panopticon, but they didn’t. Despite this fact, other prisons around the world used his design like the Kilmainham Gaul in Dublin. (Jeremy Bentham life, Paragraph 11) By not having the inmates know if they were being watched or not, it would make the inmates behave better. If the inmates behaved better, then the prison would be more effective in enforcing proper behavior. Jeremy Bentham believed, â€Å"All punishment in itself is evil, and it should only be used to diminish greater evil.† (Living philosophy, paragraph 3) He attacked criminal laws viciously due to his belief that the prisons were too harsh. Bentham had a campaign for penal ref orm, which included making prisons more hospitable. (Strangroom, 95). Bentham recognized that prisons were necessary and decided to make them as less harsh as possible so they do not inflict pain. He againShow MoreRelatedCharles Dickens Utilitarianism Analysis996 Words   |  4 Pagesworld’s development of philosophy. Its originality can be traced back to ancient Greece Democritus and Epicurean Hedonism theory. Jeremy Bentham is considered to be the founder of the utilitarianism theory during the latter half through 18th century in England. Based on the theory of utilitarianism proposed by Jeremy Bentham, the proposal expounds destructive influence of utilitarianism on humanity shown by Charles Dickens Hard Time. The proposal falls into two major parts - The introduction of BenthamsRead MoreTheories Of The Age Of Enlightenment1026 Words   |  5 Pageswith the guarantee that they will be protected from others who violate such rules† (Tibbetts Hemmens, 2015). This new enlightened way of thinking influenced others to reconstruct the ways we handled criminals and their offences against society. Jeremy Bentham and Cesare Beccaria, two of the most influential people during this time, are largely responsible for our modern day criminal justice system. Enlightenment philosophers established the foundation for the Classical School of Criminology by introducingRead MoreIntroduction The purpose of this paper is to examine an ethical dilemma faced by a company who1600 Words   |  7 Pagesmoral implications this company has in continuing further manufacturing for their pacemaker client. An overview of utilitarian ethics will be discussed, focused primarily around 17th century philosopher Jeremy Bentham’s ideas about ethics. His framework will be used to present factors that influence the transistor company’s business decision. Finally, the Utility Test and Common Good Test will be applied to the company’s predicament to help determine the correct ethical course of action for this situationRead More Classical Theory: Cesane Beccaria and Jeremy Bentham1626 Words   |  7 Pagesand for theses reasons, have different methods of advocating and eliminating crime. This essay will firstly explore the views of Classical Theory, by looking at Cesane Beccaria, the father of Classical theory and Jeremy Bentham, the founder of Utilitarian and explore how there influences are incorporated into laws and regulations, around the world. Secondly, Positivism theory explores the biological, psychological and environment understanding of what causes the crime, thus having a different understandRead MoreThe Theory Of Utilitarianism By John Stuart Mill1659 Words   |  7 Pagesis as simple as whether the resolution causes more pain or pleasure. This type of lifestyle decision making represents the theory of utilitarianism. Utilitarianism is a theory, in the simplest form of choosing pleasure over pain, established by Jeremy Bentham and further developed with other philosophers, most notably by John Stuart Mill. The use of utility obtains calculated values from multiple circumstances, ranging from the intensity to the extent of pain and pleasure that becomes involved withinRead MorePositivism : The Ruling Theory Of Law944 Words   |  4 PagesThomas Hobbes (1588-1679), Jeremy Bentham (1748-1832), John Austin (1790-1859) and HLA Hart (190 7-1992). Philosopher Ronald Dworkin once described legal positivism as the ruling theory of law. Since the time of Bentham and Austin legal positivism was the dominant theory and was held by most legal scholars in one way or another and was also the working theory of most legal practitioner’s. Although recognized as a dominating jurisprudential theory with considerable influence on the writings of manyRead MoreMorals, Ethics, And Modern Thinking Essay1367 Words   |  6 Pagestoday. UTILITARIAN and KANTIAN ETHICS Classical Utilitarian thinkers like Jeremy Bentham, an act utilitarian, and John Stuart Mill, more of a duty utilitarian, thought that Utilitarianism defines an act as morally right if it produces the greatest good for the greatest number of people. This is the principle that â€Å"it is the greatest happiness of the greatest number that is the measure of right and wrong† (Driver). Bentham defined the â€Å"fundamental axiom† of his philosophy as the â€Å"greatest happinessRead MoreThe Concepts of Law, Authority and Justice Essays1187 Words   |  5 Pagespossess any absolute qualities. Some people may think that law and morality are the same thing, but they would be incorrect, however there is undeniably a link between the two; the morality of a society, or it ‘mores’ have a strong influence on the laws that are drawn up. There re three main ways in which philosophy sees the relationship between morality and law, these are legal positivism, natural moral law and the interpretive approach. Authority on the other hand isRead MoreThe War Of The Golden Stool887 Words   |  4 PagesThis intervention was a major reference to Russia’s influence and power at the time and how the power has shifted from Russia to other countries over centuries. How smaller countries at the time such as the start of the United States could revolt over a superpower like Great Britain. This important to understand because of the transition of power that we may see in our near future. As China starts to rise through the ladder of power and influence, this may bring a major challenger to the field. ByRead MoreThe Theory Of The Panopticon1433 Words   |  6 Pageshave become reliant to fast a paced platform. Michel Foucault, 20th century French philosopher and social theorist, fully developed the theory of the panopticon, created by English philosopher and social theorist Jeremy Bentham in the late 18th century. The panopticon, described by Bentham, is a prison structure where there are three walls constructed around the prisoner leaving an empty space where a fourth wall would normally be. The entire structure is usually in a circle, the prisoner knows that

My First Prom free essay sample

â€Å"Do not decide something too fast; otherwise you will regret it in most of the time.† This is what my father told me when I was young. In May 2, I went to window shop a beautiful dress in Siam square for my first prom party with my friend. We walked for 5 hours already, were so tired that our shirts stack on our body; we did not even have power to have a funny friendly conversation. We were like robots which were only moving to find beautiful dresses. When our laziness was on the peek, we found one shop which hung many dresses on the wall. We ran into the shop, and found a dress which looks better than any other one we saw. The dress color was pink, which I really like, and the shape also was similar to what I wanted. I immediately bought the dress; even we were not planning to buy it that day, we said thanks to the worker, and walked back to the BTS station with smiling face. We will write a custom essay sample on My First Prom or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page When I went back home, my friends showed me their dresses. I started to feel like something is wrong. Is my dress look cheap? Is my dress too ordinary? Or is my dress matched with me? Those questions were going around my brain for whole day. It was because that prom was the first prom in my life; I really wanted to look beautiful. I was too much caring about my looking. About two weeks later, I got to go to Siam square again with my same friend to buy accessories and heels for the prom. We walked the same place again and found a shop which we did not see on the dress choosing day. We looked each other’s face first, and decided to go in there. We could not say any simple word when we saw the dresses inside of the shop. There were full of brilliant dresses. I tried one, which my friend recommended me, and it was simply awesome. Color was perfectly beautiful pink; the shape was exactly what I wanted, and the price was way cheaper than the one I bought. My excitement for the prom was diminished. On June 2, I went to prom without having any confidence on myself. I could see many people with fabulous dresses. I could not stop thinking about the pinky cutie dress. From this experience, I learned what my father said was correct. I should have been more careful than before. Each time when I look at my dress in wardroom, I remember the stupid decision that I made by being too hurried.