Unethical Behaviors

Unethical Behaviors of Fannie Mae Deana Deming ACC/291 December 19, 2012 surface-to-air missile Adelusimo Unethical Behaviors of Fannie Mae Unethical looks lift more than often than population think. Fannie Mae is a huge mortgage lending fellowship cognise for recent wrong way. The elderly executives manipulated financial statements to collect millions of dollars in undeserved bonuses and to deceive the poseors (Nbcnews.com, 2012). This unethical behavior became a bailiwick news story. This company progress to through did not follow the by and large Accepted Accounting Principles raise up in place by the Securities and Exchange billing or SEC. Fannie Mae has been investigated and attractived for these unethical behaviors but never admitted and guilt. Unethical Behavior The unethical behavior Fannie Mae acted in was a induce falsification of the financial statements so the CEOs could receive bonuses and make investors thinks the dividing line was doing better than it actually was, spear to the Securities and Exchange Commission it was a blatant cooking of the books. This resulted in a $400 courtly penalty, a $727 billion yobbo on the mortgage hold backings by the company, and a $350 million delightful assed by the SEC (Nbcnews.com, 2012). The company also had to reset its income hold to the 2001 amount as develop of the penalty (Nbcnews.com, 2012).

Fannie Mae did not shake up to admit any wrong-doing in the acceptance of these penalties. Sarbanes-Oxley Act Sarbanes-Oxley Act was passed in 2002 to keep companies from acting in such a manner. Unfortunately, it distillery goes on. It states that companies no matter the sizing or worth inbred comply with the federal in the main Accepted Accounting Principles or GAAP rules. Without this Act, Fannie Mae could eat caused more loss of money from investors, and the CEOs would sacrifice kept benefiting. The Securities and Exchange Commission could to put a geological period to this. Sarbanes-Oxley Act of 2002...If you want to get a full essay, invest it on our website: Ordercustompaper.com

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