COM 259 Lecture Notes - Lecture 10: Public Company Accounting Oversight Board, Intercultural Competence
19 May 2016
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Document Summary
Most demanding and least forgiving job in the organization: serves many clients with different expectations and tight deadlines, 0-defect operation, requires discretion, financial community has its own dialect. Remedies for corporate misbehavior: sarbanes-oxley act of 2002. 11 financial crimes now carry statutory maximum sentences. Restoring public trust: battles between business and government, high unemployment rates, lingering effects of recession, downfall of long standing financial institutions. Business misconduct: commonalities among top 3 crises. Culture the total way of life of a group of people, including their beliefs, institutions, and technology: a system of shared values and beliefs . Helpful to engage in self assessment provides direction for improvement. Cultural destructiveness : negative end of spectrum, blatant attempt to destroy the culture of a given group, assumes that only one group is superior. Cultural incapacity : lacking the ability to be responsive to other groups, ignorance/unfounded fear, failure to recognize mistreatment due to cultural differences.
