Abstract
What is Business Ethics? This concept paper is written so as to understand the importance of ethics in corporate governance. In the wake of the many scandals that have taken place worldwide and India, the concern still remains that while we are progressing towards institutionalizing a Code of Ethics for the Corporales, the applicability, the use and the Jar reaching consequences it will have in mitigating any malfeasance in the future is still debatable.
The paper deals with the incentive debate so as to discuss both the Cadbury Committee Report and Sec 406 of the Sarbanes- Oxley. The conclusion that we drmu is the need of having some ground rules when functioning in any jurisdiction. With the firm hands of ethics ill corporate governance, the levels of accountability and transparency will increase. With this ensured, the corporate will follow the path, justice and social responsibility towards their shareholders.
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