Week one assignment: Financial Management Challenges and Ethics
BUS 401 Principles of Finance
Financial Integrity and Foreign Markets
The ethical challenges that the financial manager’s face is seen to affect the reputation of the firm are the appreciation of the moral standing for the firm. These challenges have been heightened by the overall increase of demands that have been placed on the institution individuals in the performance of different set of activities. The first analysis will focus on the financial ethics in the aspects of integrity and market reporting, Chan, (2005).
The lack of leadership at all levels of the organization affects the overall ethical integrity of the financial manager. This leads to the offering of bribes, inaccurate timesheets reporting or the provision of misleading information, Hennessey, (2007). The ethical standing of the financial manager affects the overall provision of the quality skills in the analysis of the documentation. The financial manager not being proficient enough to trace the individuals, who are responsible for the financial records, could mean the loss of the management, Hickman and Byrd (2011). The false reporting will be unethical and illegal for the financial manager. This will ruin the firm’s reputation and trust.
The financial record reporting requires the overall maintenance of accurate and complete records is another challenge. The lack of evident or documented policies and actions in the maintenance of the financial records affects the overall ethical integrity of the financial manager, Hickman and Byrd (2011). The financial manager is required to make the decision or formulate policies that will help in the growth of the firm to the point of success. The ill will of a financial manager not reporting the truth or the overall analysis of the firm makes his conduct un-ethical, Chan, (2005). The unethical practices will lead to the problems...