The Ethics of Accounting and Finance: Trust, Responsibility, and Control (National Conference on Business Ethics Proceedings)

Edited and revised specifically for this volume, here are the best papers from the Tenth National Conference on Business Ethics, sponsored by Bentley College's Center for Business Ethics. Throughout, the contributors emphasize the ethical dimensions of problems and issues that confront the financial services and accounting industries, issues that are also of critical importance to business generally. Included among the contributors are members of the academic community, lawyers, government officials, and financial services and accounting professionals, each with his or her own special perspective, but all focused on the central theme: the importance of ethics and its proper role in the way financial services and accounting are done. Throughtful, challenging reading, not only for academics but for finance and accounting professionals as well. Part I examines the ethics of the fiduciary relationship between principals and agents, defining the nature of trust and helping readers understand the fiduciary responsibility and conflicts of interest characteristic to the industry. In Part II, the contributors look at specific issues in ethics and financial disclosure, with particular focus on nonprofit healthcare organizations, financial derivatives, and confidentiality in a professional context as representative cases. More cases are presented in Part III, examining a variety of situations and events, such as the BCCI affair and the failure of banks. Part IV offers lessons from the past and a look toward the future, with such topics as the ethics of financial derivatives in the history of economic thought and the development of moral reasoning and professional judgment of auditors in public practice. Edited And Revised Specifically For This Volume, Here Are The Best Papers From The Tenth National Conference On Business Ethics, Sponsored By Bentley College's Center For Business Ethics. Throughout, The Contributors Emphasize The Ethical Dimensions Of Problems And Issues That Confront The Financial Services And Accounting Industries, Issues That Are Also Of Critical Importance To Business Generally. Included Among The Contributors Are Members Of The Academic Community, Lawyers, Government Officials, And Financial Services And Accounting Professionals, Each With His Or Her Own Special Perspective, But All Focused On The Central Theme: The Importance Of Ethics And Its Proper Role In The Way Financial Services And Accounting Are Done. This Book Offers Thoughtful, Challenging Reading, Not Only For Academics But For Finance And Accounting Professionals As Well. Introduction / Robert E. Frederick And Judith Brown Kamm -- 1. Defining Trust In Fiduciary Responsibilities / Richard N. Ottaway -- 2. In Defense Of Finance: Understanding Fiduciary Responsibility And Conflicts Of Interest / Elaine Sternberg -- 3. Should Mutual Fund Managers Be Banned From Personal Trading? / Ronald F. Duska -- 4. Fiduciary Responsibility And The Duty To Account For Clients' Funds / Franklyn P. Salimbene And Gerald R. Ferrera -- 5. Some Ethical Issues In Financial Markets / Patricia H. Werhane -- 6. Ethical Issues In Financial Reporting For Nonprofit Healthcare Organizations / Nancy M. Kane -- 7. The Ethical Implications Of Financial Derivatives / David Mosso -- 8. Confidentiality In A Professional Context With Especial Reference To The Accounting Profession In Australia / P.b. Jubb -- 9. Accounting For Fraud: Auditors' Ethical Dilemmas In The Bcci Affair / Nikos Passas. Edited By W. Michael Hoffman ... [et Al.]. Held Oct. 17 And 18, 1994. From The Tenth National Conference On Business Ethics Sponsored By The Center For Business Ethics At Bentley College. This Volume Contains The Best Of The Conference Papers--introd. Includes Bibliographical References And Index. The purpose of this chapter is to lay some parameters around the definition and concept of trust in fiduciary roles.