Law, in its simplest form, is used to protect one party from another. For instance, laws protect customers from being exploited by companies. Laws protect companies from other companies. Laws even protect citizens and corporations from the government. However, law is neither perfect nor all encompassing. Sometimes, societal ethics fill the voids that laws leave behind; other times, usually when societal ethics have been systematically violated by a group of the population, we write laws that are designed to require individuals to live up to certain ethical standards. In the backlash of the Enron scandal (where Enron executives used accounting tricks to hide losses) for example, new accounting laws were passed. Similarly, as a result of the financial crisis of 2008, legislators proposed new regulations designed to enforce a certain standard of ethical behavior within the financial services industry. - See more at: mooc-list/course/business-law-and-ethics-saylororg#sthash.t09o3j5R.dpuf
Posted on: Fri, 16 Aug 2013 05:22:12 +0000
Trending Topics
Recently Viewed Topics
© 2015