1.0 Introduction
In the 1980s, serious corporate scandals were witnessed forcing scholars, researchers and other stakeholders to wonder whether the existing regulations were adequate to maintain the stability of companies. The need to reconsider the manner in which companies are regulated was further enhanced by an increase in the number of corporate scandals between 2001 and 2002. Due to corporate scandals involving highly esteemed companies like Enron and Arthur Andersen made regulatory agencies among other stakeholders to come up with regulations that would be affective in curbing such scandals. The Sarbanes-Oxley Act was signed in 2002, and the ...
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Shown below is an interesting list of companies with equally interesting issues they have faced in the last 10 years from Forbes Magazine ( 2008). What is interesting to find here is the depth of corporate and personal unethical cases involving people of relatively high educational standings and social standing. The alarming frequency and magnitude of these unethical practices are staggering to say the very least, and yet there seems to be a large scandal waiting to be uncovered every day. This century marks the recognition of dealing with complex business and ethical issues as a priority of corporations around the world.
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