3. The practice of corporate social responsibility necessitates writing contracts between donors and their recipients. * O TRUE O FALSE

Integrity, Objectivity, and Ethics in Business Loan Loss Woes During the economic crisis of 2008, many of the largest U.S. banks were accused of having provided mortgages to marginally qualified borrowers. Such loans, called "sub-prime" and "Alt-A" loans, were made to earn mortgage fees. When the borrowers were unable to pay their mortgages, the banks incurred large losses on defaulted loans. These losses were so large that the U.S. government had to provide money (TARP funds) to many banks to bail them out of their financial distress. During the middle of the crisis, the FASB voted to provide banks more flexibility in applying fair value accounting for bank assets, such as defaulted loans. These FASB rule changes allowed banks to minimize the impact of their defaulted loan write-downs and improve their earnings. Some criticized the FASB as succumbing to political pressure and reducing overall financial statement fairness. Source: lan Katz, "FASB Eases Fair-Value Rules Amid Lawmaker…

When discussing CSR practices, it's important to ensure they serve a double function: a. They should follow efficiency models based on quality management, as well as being approved by the appropriate government bodies. b. They should contribute to society and be considered good business. c. They should be profitable and easy to implement

1. Explain Value Analysis in business ethics, in 2 pages.

Legal consequences following a successful cyberattack on a well-known organization often include O the loss of cash, inventory, equipment, patents, copyrights, trade secrets, and data the diversion of resources to the operation of back-up procedures O lawsuits initiated by consumers who incurred damages O an erosion of trust previously established with customers, suppliers, and partners

The theory of corporate social responsibility proposed by Milton Friedman says a corporation is part of society and needs to participate in promoting the social welfare of the community. O O True False

Short Answer Questions (paragraph) Explain how ethics and social responsibility practices can build or destroy customer relationships.

H1. Account Newspaper headlines frequently highlight instances where business professionals are accused of engaging in unethical behavior. Are ethics important to the conduct of management accountants? Why or why not?

Ernst & Young to Pay $100 Million Penalty for Employees Cheating on CPA EthicsExams and Misleading InvestigationLargest Penalty Ever Imposed by SEC Against an Audit FirmWashington D.C., June 28, 2022The Securities and Exchange Commission today charged Ernst & Young LLP (EY) for cheatingby its audit professionals on exams required to obtain and maintain Certified Public Accountant(CPA) licenses, and for withholding evidence of this misconduct from the SEC’s EnforcementDivision during the Division’s investigation of the matter. EY admits the facts underlying theSEC’s charges and agrees to pay a $100 million penalty and undertake extensive remedialmeasures to fix the firm’s ethical issues.“This action involves breaches of trust by gatekeepers within the gatekeeper entrusted to auditmany of our Nation’s public companies. It’s simply outrageous that the very professionalsresponsible for catching cheating by clients cheated on ethics exams of all things,” said GurbirS. Grewal,…

Which business initiative is focused on applying zero trust principles to mitigate risks associated with the loss or theft of individual data and ensuring regulatory compliance?