Report on Ethical Issues - Deloitte

Added on - 28 May 2020

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Running head: BUSINESS ETHICSBUSINESS ETHICSName of the Student:Name of the UniversityAuthor Note:
BUSINESS ETHICS1Executive summaryThe purpose of the report is to emphasis on ethical issue which took place in Deloitte, one ofthe biggest accountant firm of the world. The recent media report published in The Guardianabout ethical issues in the organization has created concern in the minds of the Board ofDirectors regarding the ethical issue that took place recently in the company. The companyhas taken a defensive measure to keep the news buried. It concludes with recommendationthat the company needs to take initiatives to mitigate the problem.
BUSINESS ETHICS2Table of ContentsIntroduction:...............................................................................................................................1Overview of the article:..........................................................................................................2Theoretical concepts:.............................................................................................................4Role of the society:.................................................................................................................5The factors leading to poor decision making:........................................................................6Impact on the stakeholders:....................................................................................................7Recommendation:......................................................................................................................8Conclusion:................................................................................................................................9References:...............................................................................................................................10
BUSINESS ETHICS3Nick Hopkins, 2017, Deloitte hitby cyber-attack revealing clients’ secret emails, <https://www.theguardian.com/business/2017/sep/25/deloitte-hit-by-cyber-attack-revealing-clients-secret-emails> ( 25 September 2017).Introduction:The report analyses the ethical issues that often take place in the organization.According to the recent media reports, the ethical issues in an organization can affect theoperation of the company in many ways. The company may be a small firm with littleresources and employees but in case any unethical incident occurs, that ends the way ofsuccess. In case these immoral events happen in a large and well reputed firm, the situationbecomes more server and leads to involvement of law. Therefore, it has become necessary forthe organizational authorities to be well conversed with the daily incidents that are takingplace in the organizations including all the slightest issues regarding employee behaviour,working condition of the organization, relationship with the suppliers or customers andrecruitment process (Theguardian.com 2018).The organizations face issues like claims ofharassment or discrimination among the employees and only the managers can groom theblamed employees for a promotion to solve such problems. These are all examples of ethicalissues regarding employee behaviour. The report discusses the ethical breach that took placein a renowned organization, Deloitte where a major issue of cyber theft had taken placewhich affected the employees as well as all the stakeholders. The report discusses all therelevant business ethics theories that help the authorities to make important decisions to solvesuch problem as well as preventive measures for future security. The report concludes withthe recommendation on which the authority must have focused in order to solve this issuepermanently.Overview of the article:The article has revealed the ethical issue of cyber hacking that occurred in one of thecountry’s biggest accountancy firms. The firm was the victim of a highly sophisticated cybersecurity attack that compromised the security of customers worldwide. Deloitte, theaccountancy firm with its headquarters in New York, US is registered in London and hasclients all over the world. The firm provides, tax, accountancy, auditory and cyber securityrelated advice to its customers. However, its own security system came under attack last year.To add to that, the attack was noticed by the company months after it took place, as per thenews report. The report also states that the hackers, who breached into Deloitte’s security,had minimum difficulty hacking its security since the account required a single verification.
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