Consider the situation outlined at the beginning of the chapter in the Professional Judgment in Context feature.
Question:
Required
What ethical issues do you see for Spectrum Brand's board of directors (including its compensation committee)? Is it fair for the top executives to receive handsome pay packages when the company is in such a dire financial condition? Use the ethical decision-making framework outlined in Chapter 3 to formulate your answer. Recall that the steps in that framework are
(1) Identify the ethical issue(s);
(2) Determine who are the affected parties and identify their rights;
(3) Determine the most important rights;
(4) Develop alternative courses of action;
(5) Determine the likely consequences of each proposed course of action;
(6) Assess the possible consequences, including an estimation of the greatest good for the greatest number, and determine whether the rights framework would cause any course of action to be eliminated;
(7) Decide on an appropriate course of action.
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Auditing A Business Risk Approach
ISBN: 978-0538476232
8th edition
Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg
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