Running head: BUSINESS ETHICS 1


Don't use plagiarized sources. Get Your Custom Essay on
Just from $13/Page
Order Essay

Week 5 Assignment

Business Ethics

Week 5


1. What was the primary purpose of the FCPA?

The Foreign Corrupt Practices Act is a regulation that bars individuals and business from making payment to officials in a foreign nation in order to influence their decision that helps to start or retain business organization without meeting the required standards.

2. What was the maximum fine for a U.S. Corporation under the FCPA?

The maximum fine for a U.S. corporation under the Foreign Corrupt Practices Act is two million dollars.

3. Which two distinct areas did the FCPA focus on?

The two distinct areas that foreign Corrupt Practices Act focuses on are prohibition and disclosure. The FCPA ensures that money is prohibited from exchanging hands in order to influence foreign government official to give favour to the U.S. citizens in business. The FCPA ensures that all the details of financial transactions between the U.S. citizens and foreign government officials are revealed (Cumming et al., 2017).

4. List four examples of routine governmental action

The four examples of routine government action are

a) Giving visa and work permit to individuals based on the activities they perform

b) Giving permits and licences to U.S. citizens who need to work in foreign countries.

c) Conducting inspection of the goods and documents of the transactions

d) Conducting intergovernmental training against corruption between countries.

4. What are the three steps in calculating financial penalties under FSGO?

The three steps in calculating financial penalties under FSGO are

a) Determination of the base fine. The base fine is calculated by considering the benefits from the offence or the loss suffered by other individuals and organizations from the offence.

b) Culpability score. The culpability score is calculated based on the mitigating factors and aggravating factors

c) The total fine amount. This where the fine is calculated to a similar amount of the total assets of the organization.

5. Explain the seven steps of an effective compliance program.

The seven steps of an effective compliance program are

a) Management oversight, where a senior officer ensures that the organization complies with the rules and regulations.

b) Structuring of corporate procedures and policies to reduce errors and criminal activities in the organization.

c) Communication where all the stakeholders are informed of the rights and the ethical policies in the organization.

d) Monitoring of the policies and procedures to ensure that all the stakeholders comply with the organizational requirements.

e) Channel of delegation. The organization need to structure the channel of delegation to ensure that the supervisory role is not burdened on an individual.

f) Penalty. The managers of the organization need to have structured penalties and fines to deter future violation of the rules and regulations in the firm.

g) Evaluation. The last stage is evaluation, where the management corrective measures and response to various issues in the firm.

6. What were the three key components of the 2004 Revised FSGO?

The three components of the 2004 Revised FSGO are explanations of accountability guidelines, regular checking of compliance program and promotion of compliance program

7. Explain the role of the PCAOB.

The role of thePublic Company Accounting Oversight Board is to oversee the audit process of public organization to protect the interest of investors and other stakeholders of the audited organization (ArAs, 2016). 

8. What are the five key requirements for auditor independence?

The five key requirements for auditor independence are as follows

a) Prohibiting non-audit services by the organization

b) Pre-approval of the audit services by the audit committee

c) Rotating the audit partners to enhance independence

d) Avoiding firms with conflict of interest with the auditor

e) Disclosure and enhance communication between the auditor and the client.

10. What issues prompted the revision of the Federal Sentencing Guidelines for Organizations in 2004?

The FSGO was revised in 2004 because of the following reasons. First, the compliance program had failed in other organizations, and it was suspected that the failure could continue. The second reason was that the compliance program lacked ethical guidelines which were needed to guide the operations of various firms. The last reason was that some of the organizational officials lacked the required knowledge to put the compliance program into use (ArAs, 2016). 


Which is the most effective piece of legislation for enforcing ethical business practices: FCPA, FSGO, SOX, or Dodd-Frank?

Legislations are necessary to guide the operations of organizations. Without the pieces of legislation, markets and business transactions will be disorderly, and the government will fail to control the operations of the organization. The laws and regulations in an organization or institution are aimed at increasing the level of disclosure and transparency among the employees and other stakeholders of the corporation. The laws help in protecting the consumers and investors from exploitative managers and organizations. The most effective legislation for enforcing ethical business practices among the Foreign Corrupt Practices Act, Federal Sentencing Guidelines for the organization, Sarbanes–Oxley Act and Dodd-Frank is Federal Sentencing Guidelines for the organization. The four pieces of legislations have different areas of jurisdiction and perform different purposes in the field of corporate finance. The role of Federal Sentencing Guidelines for the organization stands out as the most effective piece of legislation for enforcing ethical business practices (Cumming et al., 2017).

The first reason why Federal Sentencing Guidelines for the organization stands out as the most effective piece of legislation for enforcing ethical business practices is that it is used in different organizations, both public and private. Some of the corporations where Federal Sentencing Guidelines for the organization can be used include partnerships, public companies, unions and many others. Other pieces of legislations are only applicable in Specific Corporation unlike the Federal Sentencing Guidelines for the organization which does not have boundary based on the types of the corporations. The fact that the Federal Sentencing Guidelines for the organization applies in different types of institutions makes it vast and accommodative to different institutions. The second reason is that the employer is responsible for the actions of the employees. The conditions laid by the employer determines how the employee behaves and acts in the organization. The ethical practices put in place by the management of the organization and the employers will be the same ethical practices displayed by the employees (ArAs, 2016). 


ArAs, G. (2016). A handbook of corporate governance and social responsibility. CRC Press.

Cumming, D., Filatotchev, I., Knill, A., Reeb, D. M., & Senbet, L. (2017). Law, finance, and the international mobility of corporate governance.


Calculate the price
Make an order in advance and get the best price
Pages (550 words)
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with Writall
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Customer 453877, March 7th, 2020
Health Care
Thank you very much :)
Customer 455247, February 6th, 2022
I got an A.
Customer 453877, October 30th, 2020
I got an A in this deliverable thanks.
Customer 453877, November 19th, 2020
fundamentals of intermodal transportation
perfect! thanks!
Customer 454525, March 30th, 2021
Awesome Job. I'll definitely request my writer again. Thank you!
Customer 455113, February 25th, 2022
Customer 454569, August 25th, 2021
Great Writer
Customer 454983, February 28th, 2022
Social Work and Human Services
Thanks for getting the assignment done in a timely fashion. I really appreciate it at such a difficult time for me!
Customer 453933, December 1st, 2020
Computer science
A few dangling modifiers and the use of passive voice. But otherwise, good work
Customer 454513, September 29th, 2020
Amazing work!
Customer 454937, October 7th, 2021
I got an A in this deliverable 2 today. Thanks
Customer 453877, February 6th, 2020
Customer reviews in total
Current satisfaction rate
3 pages
Average paper length
Customers referred by a friend
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat
Live Chat+1(978) 822-0999EmailWhatsApp