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Corporate Governance Essay

   

Added on  2020-12-24

7 Pages1954 Words145 Views
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CORPORATE GOVERNANCE
Corporate Governance Essay_1

Table of ContentsINTRODUCTION................................................................................................................................3MAIN BODY.......................................................................................................................................3CONCLUSION....................................................................................................................................5REFERENCES.....................................................................................................................................7
Corporate Governance Essay_2

INTRODUCTIONCorporate governance refers to the system which governs the organisation. It providesframework for the organisation to perform its various activities. This assignment is based on casestudy of Low Taek Jho that is the phantom and manipulator behind Tanore Finance corporation.This study will include essay which will provide understanding about ethical theory and businessethics. Moreover, It will include fraud triangle and its implication on the case study. Moreover , itwill discuss about corporate governance and shareholder theory to identify that financial fraud canbe avoided by using ethics and control.MAIN BODYBusiness ethics refers to the polices and practices which are adopted by the organisation must be made ethically. It includes integrity, honesty, respecting other, no discrimination etc. are the ethical practices which are adopted by the business. Ethical theories are those which helps the organisation in following the ethical practices (Armstrong & et.al., 2015). There are different ethicaltheories which are classified as deontological, Utilitarianism, Right and virtue. Deontology is the ethical theory which provide that the people must comply to their obligations and duties when engaged in decision making process. Utilitarianism is based on the ability of the person to predict consequences of the action. There are two types of Utilitarianism that consist of act and rule. Right ethical theory is based on the rights established by the society. Rights are considered to the ethically correct. The rights theoryis based on the rights which the individual hold must be protected such as right to employment, right to justice etc. Virtue theory is based on individual character and not on its action. It considers the reputation of individual and purpose of committing the act. According to the Allen (2017), Ethical theories helps the organisation in following the rightspractices for performing various activities of the firm. However, implementing the ethical theories organisation must identify the rights ethical theory for implementing in the organisation to achieve the organisational objective ethically. According to the case, Jho Low followed Right theory in which it provides Fat Eric with good care and provided the person with Right to life (Arora & Sharma, 2016). Fraud triangle refers to the framework which is designed to identify reason which leads to workplace fraud. The fraud triangle provide three factors on which the fraud is based whichconsist of motive, rationalization and opportunity. Motive of the fraud includes the need to commit the fraud such as need for money etc. Rationalization refers to the mindset of the fraudsters to make fraud. Opportunity refers to the situation in which the fraud is occurred. On the basis of case study it can be identified that Jho low
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