1.) What are the relevant facts and who are the primary stakeholders.
• Infosys being one of the top five IT companies globally in revenue generating and has the fifth largest employer of H-1B visa professionals in US.
• It committed a visa fraud by sending their employers on B1 visas which are highly restricted for some temporary business activities.1
• It paid 34 million dollars to the US government for the “civil violations” as fines to escape the legal battle that may have involved criminal proceedings.2
• In a statement released by the company it mentioned that “Infosys has long been a significant and responsible participant in the H-1B program. Infosys has never intended to, nor has it ever circumvented the requirements of the H-1B program” 3
• The company also denied about the allegations that were made on the visa fraud that they were charged upon and continued to defend themselves that they paid the law suits so that their employers would not face any problems in future.
• The present stakeholders of the company are the employers and firms.
2. What are the ethical issues?
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The moral values that they have are actually followed. Here the company dis agreed the fact that they are unethical by practicing the visa fraud. The ideals towards which the company should strive to achieve and work hard to be an inspiration to others were clearly misled. They were dishonest to themselves in accepting the fact that it has committed the fraud. They were not fair enough as they tried to bluff the world by releasing a statement saying that they never committed a visa fraud and paying 34$ million dollars to US government on the very note they released this
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According to AU 317, the term illegal acts, for purposes of this section, refers to violations of laws or governmental regulations. Illegal acts by clients are acts attributable to the entity whose financial statements are under audit or acts by management or employees acting on behalf of the entity. Illegal acts by clients do not include personal misconduct by the entity's personnel unrelated to their business activities. Illegal acts comprise of Omissions and concealments involving a breach of a legal or equitable duty which result in damage to another. Fraud on the other hand deals with an intentional illegal act which results in a material misstatement of the financial statements. Example of fraudulent actions could be: manipulation, falsification or alteration of records or documents; suppression of information, transactions or documents; recording of transactions without substance for one’s financial benefit. (AU 316) Looking at the evidence at hand, we realize that although Vinard’s bidding process may be prone to some
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In September 2005, a former senior executive from Wal-Mart de Mexico sent an email to a high-ranking Wal-Mart lawyer, referencing on how Wal-Mart de Mexico had bribed foreign officials to expedite permits to win market control in Mexico. The emails and subsequent conversations gave specific names, dates and bribe amounts. Wal-Mart followed up with an internal investigation and eventually found a paper trail of suspect payments. In addition, they found documentation implicating that, not only did the top Wal-Mart de Mexico executives know about the payments, but they had also taken pre-cautions to hide them. The lead investigator documented the findings by stating
What ethical conditions might be involved with either Sierra Golden or Bottle Time Inc. that would make it impossible to continue to collaborate or to accept the funding? Please indicate which principle of the Prevention Code of Ethics may
Attached please find a Power Point presentation slide deck that we have prepared for the National Union Staff. We will provide an overview of the I-130 pilot Immigration Benefit Fraud Assessment (IBFA) (Slides A through D), the expected timeline to complete the pilot study (Slide E), and our expectations for officers who have volunteered to participate in the study(Slide F). We would end our presentation with a discussion on the best way to solicit volunteer immigration service officers to help adjudicate the selected study cases. Please distribute the material to your invitees.
After review the table l decided not to disclose any information because the harm was more than benefit. Based on the information provided the percentage of infection is very small. The side effective of action is more harmful because the company might close down and coworker will lose job, so many lawsuits in court from previous patients, I will not be able to support my family because l won’t have a job.
The manipulation of accounts fraud scheme is generally fulfilled by employees in top management positions and it usually involves making understatements or overstatements on financial statements making it very hard to detect. The process followed as Troy Adkins, (2015) explains is very simple. The financial statements are either overstated to show different figures in the earnings on the income statements making them look better than they actually are or the earnings in the current periods are manipulated in such a way that the revenue is understated or they inflate the current year’s expenses. The second process includes making the financial statements look worse than they are in reality. Deloitte, (2009) explains a number of ways which the accounts are manipulated where as one of the ways is to manipulate the reported earnings directly. They further explained that overstating the
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Traits associated to a psychopath include irresponsibility, manipulation, grandioseness, lack of empathy, asocial tendencies, inability to feel remorse, refusal to take responsibility for one's actions and superficial relations with others. Modern day corporations display every one of the previously listed characteristics. Is it right that an institution, whose power now rivals that of the State that once created it to seek the better welfare of its citizens, display the psychological traits of a dangerous personality disorder? Many say no: there is a rising discomfort with the corporation and its pervasion into every sphere of human life and it is this uneasiness that has prompted many academics to further study the corporation and its
This case study was a powerful example to illustrate the presence of ethics within the
Important Note: This sample essay mainly illustrates the structure of your assignment on ethical issues of a company selected by you. You may first identify two or three ethical problems and then discuss how to solve them. Remember including relevant citations to support your evidences and viewpoints.
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