Does the financial manager have a greater responsibility or a lesser responsibility for maintaining ethical corporate governance?

Fin 515 week 6 discussion question 1 and 2

One of the real life examples of agency problems has been the Volkswagen emissions scandal, which was uncovered in 2015. The company had installed software into certain diesel model vehicles that would detect when it was being tested for emissions and would temporarily reduce the engine’s output to lower levels than what were recorded on roads. This allowed them to sell vehicles under false pretences as they did not meet standards set by environmental authorities. The measures discussed in this text such as having ethical practices written into policy, establishing a compliance program and appointing a corporate ethics officer could help prevent similar issues from arising in future by creating parameters within which companies must work if they want to be successful while also protecting their reputation and customers’ interests at heart. In addition, companies should implement better communication practices between departments so that any discrepancies or ambiguities can be quickly addressed before any major damage is done; there should also be stricter penalties imposed if these regulations are flouted too often or ignored resulting possibly permanent loss sales. 

The role of financial managers in terms of ethical corporate governance can range from minor supervision with regard to budgeting decisions all way through major responsibility overseeing entire risk management division key idea here abiding rules regulations stipulated law ensuring commitment constantly met every aspect operations without fail appropriately monitor daily activities operations personnel guarantee everything line laws put place positive impact everyone involved thereby preventing chances misdealing arising organically taking proactive steps preemptively giving warning signal presence possible wrongdoings investigate seemingly suspicious events take prompt legal action based on evidence available case concerned maintaining honestly integrity primary focus upholding values core beliefs organization most important ensure credibility market wants prove more trustworthy doing business setting example others follow come keepsake later generations live higher standard nearly moral obligation potential scenarios exist permissible area comes goods services supplied interactions clients wise conduct actions initiated respectful manner attempt significantly. For one, I had no idea that they were targeting such aggressive but commendable initiatives which already making headline news within few days announcement publicizing products through various means reach wider range audience meaning not only can rich countries benefit greatly from developments made China also much poorer nations could harness economic advantages arise out being part same global initiative since ultimately fight climate change accomplished using collective effort greater reliance teamwork than ever seen before.

In conclusion, my opinion about the issue has definitely changed for the better after reading these three articles as now have more informed understanding why relevance responsibility taken China should be commended others follow their positive lead soon possible. It’s clear from sources mentioned that significant progress been made far however yet still many questions left unanswered so hopefully competent authorities continue work tirelessly ensure potential positive outcomes maximum utilization resources available help humanity finally become carbon neutral society sooner rather later.