DANCEST 303 Lecture Notes - Lecture 21: Pricewaterhousecoopers, Warren Buffett, Wirecard
Document Summary
Hrm 13 ethics, diversity, inclusion + sustainability. Unethical behaviour by companies risks loss of public trust + threatens integrity of business. Ethical business practices need to be reinforced on a global scale to offset continuing decline in business ethics. Integrity = being insured that our partner is doing what they are saying. Example: wirecard; hat lots of assets in balance sheet that are now gone; but no one knows how/why: annual reports of such public listed corporations are certified by chartered. Accountants: a few years ago another example: enron in the us with the big 5 chartered accounting firms (kpmg, deloitte, pwc (price waterhouse coopers) arthur. Anderson, e+y(ernest + young): arthur anderson testified that data was wrong; in the end the entire accounting company disappeared; so know only big 4. This is why business ethics is so important: ethical organisations. Ethics = application of values + principles to make right choices.
