It should be noted that fraudulence in this case would be taken as an illegal move irrespective of the objective of the person who commits it.In view of the above mentioned company, it is clearly evident that the insurance company was engaged in fraudulent acts with the fundamental reason of attaining optimum profits to salvage it from its financial position. Therefore, it would be imperative to make changes to the company’s policies to ensure that the weaknesses in the system are not exploited by the management to deny policy holders their legally entitled rights to legitimate claims.It is imperative that the policies in the insurance company be subjected too periodic reviews constantly. The implication would be that the probable shortfalls in the process would be mitigated before the whole process in the organization is compromised.In addition, a deliberate move to encourage transparency and diligence on the part of the committee members should be instigated. The ultimate concern in this case is to prevent the likelihood of the members of the committee from being victims of circumstances in reference to ethical practices. In addition, the remedies should guarantee the independence of the committees to ensure that in the course of execution of their duty there is no conflict of interest of unethical conduct. On the occurrence of an ethical conduct, the organization should have a clearly defined path in terms of what should be done in handling such cases. The fundamental objective in this case should be aimed at promoting fairness at all levels within the managerial structures of the company in view of establishing fair ethical practices. It is also. Probable Remedies for the Ethical Processes in the Corporate Organization.
Ackerman, A. SEC Discipline Over Madoff : Agencys Action Follows Report Questioning
Staff Conduct Over Ponzi Scheme. Wall Street Journal 12 November 2011.
Bray, C. Ex-Lawyer Gets 6 Month Prison Term In Insider Case. Wall Street Journal 30
Campoy, A. & Gold, R. Hearing Focuses on Air Quality at Wells. Wall Street Journal 30
Chasan, E. "Accounting Fraud Falling Thanks to Faltering Economy." The Wall Street Journal
29 November 2011.
Crovitz , Gordon. A Business Model Based on Conflict of Interest: On TechCrunch its hard to
tell where news ends and investing begin. Wall Street Journal 12 September 2011.
EMSHWILLER, J and D SOLOMON. "Major Players in the Enron Trial." THE WALL STREET
JOURNAL 8 July 2004: 1.
Kendall , B. Trio Charged in Price Fixing: U.S. Indicts Executives of Compressor Makers
Following Long-Running Probe . Wall Street Journal 28 September 2011.
Lipschutz, Neal. Ten Years Later, Enron Pales in Comparison. Wall Street Journal 30
Loftus, Peter. Pfizer Tries to Block Merck Lipitor-Zetia Pill. Wall Street Journal 11 October
Moyer, L. "Goldman Continues to Fight $20.5 Million Award in Pivotal Case." The Wall Street
Journal 14 October 2011.
Needleman, S. "A Rogue Employee May Be on Your Payroll, Too." The Wall Streer Journal 22
Ordonez, Isabel. Ex-Enron Executive Returns to Energy Sector. Wall Street Journal 8 November
Ovide, S. "A Divas Empire in Play: Martha Stewart Living Hires Blackstone to Explore Offers,
Looking to Revive Brand." THE WALL STREET JOURNAL 26 May 2011.
Peltz, Jennifer. One-time 9/11 hero gets prison in NYC bribe case. Wall Street Journal 16
Satter, R. "Murdoch aide quits." The Wall Street Journal 13 October 2011.
The Economic Times. "2G scam: Corporates tried to influence govt formation, says PAC." The
Wall Street Journal 28 April 2011.
WSJ. "The Inglorious History of Japanese Accounting Frauds ." The Wall Street Journal 8
—. "The stress tests were essentially a fraud – revelation sends bond spreads to new records."
The Wall Street Jall 9 August 2009.
Young, S. and D Solomon. "WorldCom Backs Chief Executive For $340 Million." Wall Street
Journa 8 February 2002.
Please type your essay title, choose your document type, enter your email and we send you essay samples