COMM 103 Chapter Notes - Chapter 5: Ponzi Scheme, Forensic Accounting, Organizational Culture

• School: Queen's University
• Department: Commerce
• Course: COMM 103
• Professor: Gregory Libitz

Document Summary

Ethics: reflection of moral principles/beliefs about what an individual views as being right/wrong and guide the way people make decisions. Integrity: honesty, reliability, ethics, moral judgement, and the most important skill you can bring to the workplace. Ponzi scheme: investment fraud that involves payment of purported returns to existing investors from funds contributed by new investors. Board of directors: governing body of corporation that oversee management of organization and oversees/advises management on behalf of stakeholders/shareholders. Work culture: defines boundaries of acceptable behaviors for a business" management teams and employees. Ethics in small business environments: small businesses may not have full-time hr departments to constantly monitor/train employees. Creating culture of ethical behavior: board of directors/owner-representative body must be active in ongoing monitoring organization and tightening processes when needed. Regulating ethics: constantly monitor and communicate policy/codes of conduct to employees and use forensic accounting. Forensic accounting: integration of accounting, auditing, and investigative skills.