Ethics in Work and in Life D. Scot Loyd, CGFM, CPA Swindoll, Janzen, Hawk & Loyd, LLC McPherson,...

Ethics in Work Ethics in Work and in Lifeand in LifeEthics in Work Ethics in Work and in Lifeand in Life

D. Scot Loyd, CGFM, CPAD. Scot Loyd, CGFM, CPASwindoll, Janzen, Hawk & Loyd, LLCSwindoll, Janzen, Hawk & Loyd, LLCMcPherson, KansasMcPherson, [email protected]@sjhl.com

Webinar…January 28, 2009

2

Be Encouraged…Be Challenged!!Be Encouraged…Be Challenged!!

My views are not necessarily the views of the AICPA Professional Ethics Executive Committee (PEEC) as a whole or of my individual colleagues on the Ethics staff or individual committee members…of which I served on PEEC for three years…step down 10/2006!I have assembled these slides over the last three

years making over 57 Ethics presentations…I have been told this is one of the most refreshing Ethics talks they have set through…matter of opinion probably…hopefully you find it encouraging!!Some of you will say I am too bold with what I am

about to say, but why should I beat around the bush…..I want to share my personal experiences to encourage and challenge you to think about your ETHICAL Foundation as it exists today!!

My views are not necessarily the views of the AICPA Professional Ethics Executive Committee (PEEC) as a whole or of my individual colleagues on the Ethics staff or individual committee members…of which I served on PEEC for three years…step down 10/2006!I have assembled these slides over the last three

years making over 57 Ethics presentations…I have been told this is one of the most refreshing Ethics talks they have set through…matter of opinion probably…hopefully you find it encouraging!!Some of you will say I am too bold with what I am

about to say, but why should I beat around the bush…..I want to share my personal experiences to encourage and challenge you to think about your ETHICAL Foundation as it exists today!!

3

Who is Scot Loyd?Who is Scot Loyd?

Married to Jenny LoydSon is Ethan LoydPhysical birth 3/8/61Spiritual birth 3/31/69Almost always lived in town

of less than 1,500 peopleGrad Sedan HS May 1979Grad Tabor College 1983Married 7/28/84Football, Basketball,

BaseballEnjoy exercising…Lifting

weights

Married to Jenny LoydSon is Ethan LoydPhysical birth 3/8/61Spiritual birth 3/31/69Almost always lived in town

of less than 1,500 peopleGrad Sedan HS May 1979Grad Tabor College 1983Married 7/28/84Football, Basketball,

BaseballEnjoy exercising…Lifting

weights

Enjoy Landscaping 3 acre yard on Main St.Fellowship of

Christian AthletesInvolved in ChurchCertified Public

Accountant-CPAPartner in Swindoll,

Janzen, Hawk & Loyd 57 Ethics

presentations—truth is truth presentations

Enjoy Landscaping 3 acre yard on Main St.Fellowship of

Christian AthletesInvolved in ChurchCertified Public

Accountant-CPAPartner in Swindoll,

Janzen, Hawk & Loyd 57 Ethics

presentations—truth is truth presentations

4

BOONDOCKS’ partial lyrics, Mike Crawford’s (my co-author) Favorite Group:

Little Big Town

BOONDOCKS’ partial lyrics, Mike Crawford’s (my co-author) Favorite Group:

Little Big TownIt's where I learned about livingIt's where I learned about loveIt's where I learned about working hardAnd having a little was just enough

It's where I learned about JesusAnd knowing where I standYou can take it or leave it, this is me

This is who I am

It's where I learned about livingIt's where I learned about loveIt's where I learned about working hardAnd having a little was just enough

It's where I learned about JesusAnd knowing where I standYou can take it or leave it, this is me

This is who I am

5

College World Series—WOW..2006,2007 &2008…”Lights

Out”!! June 2009 around the corner!!

College World Series—WOW..2006,2007 &2008…”Lights

Out”!! June 2009 around the corner!!

6

College World Series—WOW…”Lights

Out”!!

College World Series—WOW…”Lights

Out”!!

Josh Fields #25 (nickname “Lights

Out”)

Georgia Bulldogs Baseball

Josh Fields #25 (nickname “Lights

Out”)

Georgia Bulldogs BaseballA First Round Draft pick of the Seattle Mariners, 20th overall

Named the 2008 Stopper of the Year by the National Collegiate Baseball Writers Association

Named 1st Team All-American by Collegiate Baseball/Louisville Slugger and 2nd Team All-American by Baseball America and the ABCA, Also All-South Region by the ABCA

Honored as SEC Pitcher of the Year and 1st Team All-SEC by league coaches

Opponents batted .133 against him and had 63 strikeouts and only 22 walks

Owns the SEC and Bulldog Career Saves Record with 41 plus Georgia record 114 career games pitched

18-for-18 in Saves and 0.47 ERA in those games (19 IP, 3H, 1R, 12BB, 32K) and none of 15 inherited runners scored

A First Round Draft pick of the Seattle Mariners, 20th overallNamed the 2008 Stopper of the Year by the National

Collegiate Baseball Writers AssociationNamed 1st Team All-American by Collegiate Baseball/Louisville

Slugger and 2nd Team All-American by Baseball America and the ABCA, Also All-South Region by the ABCA

Honored as SEC Pitcher of the Year and 1st Team All-SEC by league coaches

Opponents batted .133 against him and had 63 strikeouts and only 22 walks

Owns the SEC and Bulldog Career Saves Record with 41 plus Georgia record 114 career games pitched

18-for-18 in Saves and 0.47 ERA in those games (19 IP, 3H, 1R, 12BB, 32K) and none of 15 inherited runners scored

7

8

Marshall University Football Team Chapel & Sideline

Experience

Marshall University Football Team Chapel & Sideline

Experience

9

University of North Texas vs. KSU Team Chapel & Sideline

Experience

University of North Texas vs. KSU Team Chapel & Sideline

Experience

ETHICS EXPERT: NOT…BUT I do have a PASSION to live ETHICALly!

ETHICS EXPERT: NOT…BUT I do have a PASSION to live ETHICALly!

I am not an “ETHICS” expert…but I do have to understand it’s “IMPLICATIONS” on my life, family and business!

I do want to make you aware of the “ETHICAL FAILURE RISKS” that could impact you!

I will FOCUS on building a strong ETHICAL FOUNDATION…are you assessing your “ETHICAL FAILURE RISKS” currently?

I am not an “ETHICS” expert…but I do have to understand it’s “IMPLICATIONS” on my life, family and business!

I do want to make you aware of the “ETHICAL FAILURE RISKS” that could impact you!

I will FOCUS on building a strong ETHICAL FOUNDATION…are you assessing your “ETHICAL FAILURE RISKS” currently?

11

Our Discussion Today!

Our Discussion Today!

Ethics is EthicsImpact of Ethics FailuresPractical Puzzle Pieces Used To Strengthen our ETHICAL Foundation

What Can You Do To Make An Ethical Difference?

Ethics is EthicsImpact of Ethics FailuresPractical Puzzle Pieces Used To Strengthen our ETHICAL Foundation


12

What is the most frustrating thing about

putting together a PUZZLE?



13





The Missing PIECE!

Ethics is Ethics is Ethics!Ethics!Ethics is Ethics is Ethics!Ethics!

15

Webster’s Definition of ETHICS

Webster’s Definition of ETHICS

The discipline dealing with what is GOOD and BAD and with MORAL duty and obligation…a set of moral principles and values.

The discipline dealing with what is GOOD and BAD and with MORAL duty and obligation…a set of moral principles and values.

16

Webster’s Definition of MORALS

Webster’s Definition of MORALS

a: moral practices or teachings : modes of conduct

b: ETHICAL

a: moral practices or teachings : modes of conduct

b: ETHICAL

17

ETHICS VS. MORALSETHICS VS. MORALS

In modern culture the terms ETHICS and MORALS are virtual synonyms.Quite frankly the confusion over the interchangeableness of these two terms is understandable.

BUT it is WRONG!

In modern culture the terms ETHICS and MORALS are virtual synonyms.Quite frankly the confusion over the interchangeableness of these two terms is understandable.

BUT it is WRONG!Per Dr. James Eckman President and Professor of Theology, Ethics, and History at Grace University

18

What are Ethics?What are Ethics?

Ethics is what is normative, ABSOLUTE.

It refers to a SET OF STANDARDS around which we organize our lives and from which we define our duties and obligations.It results in a set of imperatives that establishes behavior patterns that are acceptable.

It is what people OUGHT TO DO!

Ethics is what is normative, ABSOLUTE.

It refers to a SET OF STANDARDS around which we organize our lives and from which we define our duties and obligations.It results in a set of imperatives that establishes behavior patterns that are acceptable.

It is what people OUGHT TO DO!Per Dr. James Eckman President and Professor of Theology, Ethics, and History at Grace University

19

By contrast…Morality?

By contrast…Morality?

Morality is more concerned with what people do.It describes what people are already doing, often regardless of any ABSOLUTE SET OF STANDARDS.The problem arises when the NORM is identified with that which is ABSOLUTE.

Morality is more concerned with what people do.It describes what people are already doing, often regardless of any ABSOLUTE SET OF STANDARDS.The problem arises when the NORM is identified with that which is ABSOLUTE.Per Dr. James Eckman President and Professor of Theology,

Ethics, and History at Grace University

20

It seems nothing is absolute anymore?It seems nothing is absolute anymore?

“We determine the norm of human behavior through statistical studies. Therefore since unacceptable behavior is widely practiced, that becomes society’s norm and

therefore it is the ETHICAL standard.

“We determine the norm of human behavior through statistical studies. Therefore since unacceptable behavior is widely practiced, that becomes society’s norm and

therefore it is the ETHICAL standard.Per Dr. James Eckman President and Professor of Theology,

Ethics, and History at Grace University

21

It seems nothing is absolute anymore?

(con’t)

It seems nothing is absolute anymore?

(con’t)Ethics becomes a relativistic, floating set of patterns which determines our duty and obligation. NOTHING is absolute and NOTHING is forever. That which the culture THOUGHT was NAILED DOWN IS NOT. It is as fluid as a changing river.”

Ethics becomes a relativistic, floating set of patterns which determines our duty and obligation. NOTHING is absolute and NOTHING is forever. That which the culture THOUGHT was NAILED DOWN IS NOT. It is as fluid as a changing river.”

Per Dr. James Eckman President and Professor of Theology, Ethics, and History at Grace University

Steamboat ArabiaKansas City, MO


Headin’ West…”Too thick to drink, too thin to plow, were the words best used to describe the Missouri River. Yet the muddy, swirling waters of the river served as the expressway to the West…In spite of the fascination associated with the trade, navigating the Missouri River was a difficult and dangerous business!!!

Headin’ West…”Too thick to drink, too thin to plow, were the words best used to describe the Missouri River. Yet the muddy, swirling waters of the river served as the expressway to the West…In spite of the fascination associated with the trade, navigating the Missouri River was a difficult and dangerous business!!! 22



…lying silently at or just below the water’s surface was the “snag”, a thick trunk of a huge, fallen walnut tree. With its roots deeply embedded in the soft mud, the timber lay directly in the path of the approaching steamboat…What “SNAG” is right below the water of your Life’s journey?

…lying silently at or just below the water’s surface was the “snag”, a thick trunk of a huge, fallen walnut tree. With its roots deeply embedded in the soft mud, the timber lay directly in the path of the approaching steamboat…What “SNAG” is right below the water of your Life’s journey? 23

24

Society’s Beliefs…have these changed over the

years?

Society’s Beliefs…have these changed over the

years?Society’s opinions of:Foundation of MoralityRight and wrongMoral and immoralGood and badHappy and unhappy

Society’s opinions of:Foundation of MoralityRight and wrongMoral and immoralGood and badHappy and unhappy

25

How are OUR Values Defined Today?

How are OUR Values Defined Today?

Honesty (truthfulness, openness)Integrity (convictions, courage)Objectivity (independence, fairness, equality)Promise Keeping (fulfilling commitments)Fidelity (loyalty, confidentiality)Caring (compassion, kindness)Respect (dignity)Accountability (responsibility)Excellence (quality of work)Citizenship or Social Responsibility (respect for law, social consciousness)

Honesty (truthfulness, openness)Integrity (convictions, courage)Objectivity (independence, fairness, equality)Promise Keeping (fulfilling commitments)Fidelity (loyalty, confidentiality)Caring (compassion, kindness)Respect (dignity)Accountability (responsibility)Excellence (quality of work)Citizenship or Social Responsibility (respect for law, social consciousness)

26

The Circle of Morality©

The Circle of Morality©

2. Values

4. Actions3. Ethics

1. Beliefs

(Beliefs are KEY to an Ethical Foundation)

5. Consequences

The Circle of Morality™

CA Crawford & Associates, P.C.

CONCLUSION:

For a shift to higher Ethics, there must be meaningful enough Consequences to the Actions of individuals to cause a shift in the Beliefs of a majority of society that is significant enough to change individual Values.

27

The Circle of MoralityThe Circle of Morality

1. Beliefs – the convictions that place trust or confidence in someone or something forming a foundation for moral decisions 2. Values – components of character that

build the framework about what is right and wrong3. Ethics – an individual’s knowledge and

awareness of their moral duty and obligation 4. Actions – an individual’s response to the

spectrum of life situations with regard to their moral duty and obligation.5. Consequences – the results or

repercussions of an individual’s actions

1. Beliefs – the convictions that place trust or confidence in someone or something forming a foundation for moral decisions 2. Values – components of character that

build the framework about what is right and wrong3. Ethics – an individual’s knowledge and

awareness of their moral duty and obligation 4. Actions – an individual’s response to the

spectrum of life situations with regard to their moral duty and obligation.5. Consequences – the results or

repercussions of an individual’s actions

28

How Would You Define TRUTH?How Would You Define TRUTH?

“A recent study reported that only six percent of teens today believe that moral truth is absolute. I knew it wouldn't be high, but that's really low. Not good. Young people today are basically saying that life is a sliding scale. Truth has become relative because it all depends on the situation. The sad thing is who trained them?

In the world of athletics, there are many truths that can not be

relative (i.e. wins and loses). Imagine if every athlete defined winning differently--one by score, one by hustle, one by the best fans, etc. It would be chaos! Fortunately (or unfortunately) winning is defined by the scoreboard. Life without truths, absolutes and boundaries leads to chaos.”

(Source: Dan Britton, Fellowship of Christian Athletes)

“A recent study reported that only six percent of teens today believe that moral truth is absolute. I knew it wouldn't be high, but that's really low. Not good. Young people today are basically saying that life is a sliding scale. Truth has become relative because it all depends on the situation. The sad thing is who trained them?

In the world of athletics, there are many truths that can not be

relative (i.e. wins and loses). Imagine if every athlete defined winning differently--one by score, one by hustle, one by the best fans, etc. It would be chaos! Fortunately (or unfortunately) winning is defined by the scoreboard. Life without truths, absolutes and boundaries leads to chaos.”

(Source: Dan Britton, Fellowship of Christian Athletes)

29

Excerpted from Ethics Newsline ™(www.globalethics.org/newsline/)

A publication of the Institute for Global Ethics



From the October 10, 2006, issue:

Quote from the Ethics File

The Quiet Suppression"Not the violent conflict between

parts of the truth, but the quiet suppression of half of it, is the formidable evil...."

John Stuart Mill (English philosopher and economist, 1806-1873)http://www.globalethics.org/newsline/members/issue.tmpl?articleid=10090619431928

Copyright ©1995-2006 the Institute for Global Ethics, Camden, Maine 04843

From the October 10, 2006, issue:

Quote from the Ethics File

The Quiet Suppression"Not the violent conflict between

parts of the truth, but the quiet suppression of half of it, is the formidable evil...."

John Stuart Mill (English philosopher and economist, 1806-1873)http://www.globalethics.org/newsline/members/issue.tmpl?articleid=10090619431928

Copyright ©1995-2006 the Institute for Global Ethics, Camden, Maine 04843

30


A publication of the Institute for Global EthicsFrom the September 25, 2006, issue:

31

'Study: Majority Of Graduate Business Students Admit To

Cheating'

'Study: Majority Of Graduate Business Students Admit To

Cheating''Creating a culture of integrity should curb cheating

and cultivate character,' say study's authors"Polices, rules, and the potential for getting caught

had little to do with the students' decisions to cheat, according to the research. Rather, the authors found that, for business students, the perception that other students were cheating was the most powerful influence on their own behavior."To counteract the perception that dishonesty is

permeating U.S. college classrooms, the authors recommend that college administrators work with faculty and students to create what they call a 'culture of integrity and responsibility' in their schools.

'Creating a culture of integrity should curb cheating and cultivate character,' say study's authors"Polices, rules, and the potential for getting caught

had little to do with the students' decisions to cheat, according to the research. Rather, the authors found that, for business students, the perception that other students were cheating was the most powerful influence on their own behavior."To counteract the perception that dishonesty is

permeating U.S. college classrooms, the authors recommend that college administrators work with faculty and students to create what they call a 'culture of integrity and responsibility' in their schools. Excerpted from Ethics Newsline ™

(www.globalethics.org/newsline/)A publication of the Institute for Global Ethics

From the September 25, 2006, issue

32

Overriding ETHICAL Themes


33

Laws versus EthicsLaws versus Ethics

The fact that it is possible or legal to do something doesn’t mean it “ought to be done”.Example: While it is legal to bill your non-profit client (or employer) for your work-related expenses where you stayed in the most expensive hotel and ate extravagant meals, is it the right thing to do?

The fact that it is possible or legal to do something doesn’t mean it “ought to be done”.Example: While it is legal to bill your non-profit client (or employer) for your work-related expenses where you stayed in the most expensive hotel and ate extravagant meals, is it the right thing to do?

35



36

Substance over FormSubstance over FormTo truly use ETHICAL principles to make decisions, one must focus on the substance (spirit) of the principle and not the form (rules).Example: AICPA standards do not permit an auditor to enter into a capital lease with an audit client, while permitting operating leases. However, the auditor would be better advised to avoid even operating leases with an audit client.

To truly use ETHICAL principles to make decisions, one must focus on the substance (spirit) of the principle and not the form (rules).Example: AICPA standards do not permit an auditor to enter into a capital lease with an audit client, while permitting operating leases. However, the auditor would be better advised to avoid even operating leases with an audit client.

37



38

Fact and AppearanceFact and AppearanceWhile the accountant/auditor must ensure his (her) decisions are in fact (actually) ETHICAL, they must also ensure that ETHICAL to other informed individuals appear (are perceived to be).Example: An auditor may meet the various independence rules and truly feel unbiased; however, if an informed individual with knowledge of the facts and circumstances does not perceive him (her) to be independent, the value of the service to the public will be in question.

While the accountant/auditor must ensure his (her) decisions are in fact (actually) ETHICAL, they must also ensure that ETHICAL to other informed individuals appear (are perceived to be).Example: An auditor may meet the various independence rules and truly feel unbiased; however, if an informed individual with knowledge of the facts and circumstances does not perceive him (her) to be independent, the value of the service to the public will be in question.

39

What PUZZLE piece is missing today in our

Ethics?

What PUZZLE piece is missing today in our

Ethics?If our ETHICAL FOUNDATION IS AS FOLLOWS:“NOTHING is absolute and NOTHING is forever. That which the culture THOUGHT was NAILED DOWN IS NOT. It is as fluid as a changing river.”

THEN, WHERE IS THE “SNAG”?

If our ETHICAL FOUNDATION IS AS FOLLOWS:“NOTHING is absolute and NOTHING is forever. That which the culture THOUGHT was NAILED DOWN IS NOT. It is as fluid as a changing river.”

THEN, WHERE IS THE “SNAG”?

40

Has TRUE Wisdom Escaped US?

Has TRUE Wisdom Escaped US?

“The best-informed man is not necessarily the wisest. Indeed there is a

DANGERDANGER that precisely in the multiplicity of his knowledge he will lose sight of what is essential.”

Dietrich Bonhoeffer

“The best-informed man is not necessarily the wisest. Indeed there is a

DANGERDANGER that precisely in the multiplicity of his knowledge he will lose sight of what is essential.”

Dietrich Bonhoeffer

41

There’s No Such Thing as “Business Ethics”! There’s No Such Thing as “Business Ethics”! Has the definition of

“Ethics” changed?

Is “Ethics” really “More Than A Feeling”?

Has “Ethics” become a nebulous, elusive concept instead of the bedrock foundation that all businesses and levels of government should be built upon?

Has the definition of

“Ethics” changed?

Is “Ethics” really “More Than A Feeling”?

Has “Ethics” become a nebulous, elusive concept instead of the bedrock foundation that all businesses and levels of government should be built upon?

42

There’s No Such Thing as “Business Ethics”!

There’s No Such Thing as “Business Ethics”!

Ethics is

EthicsIf you desire to be ethical, you live it by one standard across the board

Ethics is

EthicsIf you desire to be ethical, you live it by one standard across the board

43

Integrity (ETHICAL) Guideline for ANY situation

Integrity (ETHICAL) Guideline for ANY situation

How Would I Like to Be Treated In This Situation?

Referred to as the

“GOLDEGOLDEN RULEN RULE””

How Would I Like to Be Treated In This Situation?

Referred to as the

“GOLDEGOLDEN RULEN RULE””

44

Ethics is Ethics

Ethics is EthicsSimple Terms!!!

WHO'S COUNTING YOURS?“Character is caught, not taught”

Simple Terms!!!

WHO'S COUNTING YOURS?“Character is caught, not taught”

45

An Additional Thought!!An Additional Thought!!”THE EXTRA MILE ”THE EXTRA MILE

ATTITUDE”ATTITUDE”

An Additional Thought!!An Additional Thought!!”THE EXTRA MILE ”THE EXTRA MILE

ATTITUDE”ATTITUDE”How Can I Treat a How Can I Treat a

Person Better Than I Am Person Better Than I Am Expected to Be Treated?Expected to Be Treated?Going over and above Going over and above

EXPECTATIONEXPECTATION in a in a situation—the EXTRA situation—the EXTRA MILE ATTITUDE!!MILE ATTITUDE!!

Referred to as the Referred to as the

““PLATINUM PLATINUM RULERULE”--#1”--#1

How Can I Treat a How Can I Treat a Person Better Than I Am Person Better Than I Am Expected to Be Treated?Expected to Be Treated?Going over and above Going over and above

EXPECTATIONEXPECTATION in a in a situation—the EXTRA situation—the EXTRA MILE ATTITUDE!!MILE ATTITUDE!!

Referred to as the Referred to as the

““PLATINUM PLATINUM RULERULE”--#1”--#1

Ethics is Ethics…one Ethics is Ethics…one standard across the standard across the

board!board!

CharacteRCharacteRDoes count!Does count!

GoldenGoldenRuleRule

#1#1

46

Extra Mile Attitude IS someone who…

Extra Mile Attitude IS someone who…

CARESCARES more than others think is WISEWISE.

RISKSRISKS more than others think is SAFESAFE.

DREAMSDREAMS more than others think is PRACTICALPRACTICAL.

EXPECTSEXPECTS more than others think is POSSIBLEPOSSIBLE.

WORKSWORKS more than others think is NECESSARYNECESSARY.

CARESCARES more than others think is WISEWISE.

RISKSRISKS more than others think is SAFESAFE.

DREAMSDREAMS more than others think is PRACTICALPRACTICAL.

EXPECTSEXPECTS more than others think is POSSIBLEPOSSIBLE.

WORKSWORKS more than others think is NECESSARYNECESSARY.

47

Zig ZiglarZig Ziglar

““There’s no There’s no traffic jam on traffic jam on

the EXTRA the EXTRA MILE.”MILE.”

““There’s no There’s no traffic jam on traffic jam on

the EXTRA the EXTRA MILE.”MILE.”

48

Where Are YOU Today?

Where Are YOU Today?

As we go through the rest of this presentation, think about these few slides we have just discussed above and answer in your own mind the following questions:Where are YOU today with your Ethics?

Is there a “SNAG” waiting below the water’s surface of your life?

What is YOUR ETHICAL FOUNDATION built on?

As we go through the rest of this presentation, think about these few slides we have just discussed above and answer in your own mind the following questions:Where are YOU today with your Ethics?

Is there a “SNAG” waiting below the water’s surface of your life?

What is YOUR ETHICAL FOUNDATION built on?

Impact of Ethics Impact of Ethics FailuresFailuresImpact of Ethics Impact of Ethics FailuresFailures

50

The Corporate Executive Defenses


“I SEE nothing,

I HEAR nothing, and

I KNOW Nothing!"

The “Sergeant Shultz” Defense

• Kenneth Lay - Enron

• Richard Scrushy – HealthSouth

• Calisto Tanzi - Parmalat

•ON and ON and ON the list goes!!



The “Aw Shucks” DefenseThe “Aw Shucks” Defense

51

“Not Guilty By Reason of Incompetence”

• Bernie Ebbers – WorldCom

• Jeffrey Skilling – Enron

• Gary Winnick – Global Crossing

•List goes ON and ON and ON!!

52



The “Three-Blind Mice” Defense

THE BOARD OF DIRECTORS

“They didn’t have a problem with it”.

John Rigas & Sons – Adelphia NOTE: Former Adelphia Executives Report to PrisonJohn Rigas, Age 82: "This is a death sentence for me.” He was sentenced to 15 yrs and was fined $2,300 for a multi-billion $$ fraud.

•Dennis Kozlowski - Tyco

•List goes ON and ON and ON!!

53

Who WAS…IS…Will BeIS…Will Be watching over

MANAGEMENT???

Who WAS…IS…Will BeIS…Will Be watching over

MANAGEMENT???

54

The “Sergeant Schultz” Defense The “Aw Shucks” DefenseThe “Three Blind Mice” Defense

If these defenses are true and legitimate, what does it say about the state of corporate governance?

The “Sergeant Schultz” Defense The “Aw Shucks” DefenseThe “Three Blind Mice” Defense

If these defenses are true and legitimate, what does it say about the state of corporate governance?



55





From the October 16, 2006, issue:Quote from the Ethics File…A World of Fools

"The ultimate result of shielding men from the effects of folly is to fill the world with fools."

-- Herbert Spencer (English philosopher, 1820-1903)

From the October 16, 2006, issue:Quote from the Ethics File…A World of Fools

"The ultimate result of shielding men from the effects of folly is to fill the world with fools."

-- Herbert Spencer (English philosopher, 1820-1903)

Anything Happening at This Address?

Anything Happening at This Address?

58

Equal Justice?Equal Justice?

Martha Stewart (Living consultant)

Crime: Lying about a stock trade

Sentence: 5 months in prison and 5 months house arrest

Martha Stewart (Living consultant)

Crime: Lying about a stock trade

Sentence: 5 months in prison and 5 months house arrest

59

Equal Justice?Equal Justice?

Michael Martin (Former HealthSouth CFO)

Plead guilty to coordinating $2.7 billion accounting fraud and agreed to testify against CEO

Original Sentence: 6 month home detention, including playing golf

Michael Martin (Former HealthSouth CFO)

Plead guilty to coordinating $2.7 billion accounting fraud and agreed to testify against CEO

Original Sentence: 6 month home detention, including playing golf

A Change: Ex-HealthSouth CFO Re-

Sentenced

A Change: Ex-HealthSouth CFO Re-

SentencedA federal judge Tuesday sentenced former HealthSouth

Corp. Chief Financial Officer Michael Martin to 36 months in prison, marking the third time he has been sentenced for his part in a $2.7-billion accounting scandal that rocked the company.Martin, one of five former HealthSouth CFOs who pleaded

guilty to fraud charges in connection with the scandal, had previously paid a $50,000 fine and a $2.4-million forfeiture of ill-gotten gains.He was originally sentenced to five months’ probation and was

later ordered to serve only seven days in prison.Both of those sentences were overturned after U.S. prosecutors

protested the lenient penalties and appealed the decisions.“I only have myself to blame for where I am standing,” a tearful

Martin told the court and U.S. District Judge L. Scott Coogler.He apologized to those who suffered as a result of the fraud,

adding: “I committed a very serious crime and I am prepared to face the consequences.”

A federal judge Tuesday sentenced former HealthSouth Corp. Chief Financial Officer Michael Martin to 36 months in prison, marking the third time he has been sentenced for his part in a $2.7-billion accounting scandal that rocked the company.Martin, one of five former HealthSouth CFOs who pleaded

guilty to fraud charges in connection with the scandal, had previously paid a $50,000 fine and a $2.4-million forfeiture of ill-gotten gains.He was originally sentenced to five months’ probation and was

later ordered to serve only seven days in prison.Both of those sentences were overturned after U.S. prosecutors

protested the lenient penalties and appealed the decisions.“I only have myself to blame for where I am standing,” a tearful

Martin told the court and U.S. District Judge L. Scott Coogler.He apologized to those who suffered as a result of the fraud,

adding: “I committed a very serious crime and I am prepared to face the consequences.” 60

What Will Be Equal Justice for Bernard Madoff’s $50

Billion?


Billion?

61


Billion?


Billion? Madoff was arrested after telling his sons

that his firm was "one big lie."

Madoff was arrested after telling his sons

that his firm was "one big lie."

62

63

ConsequencesConsequences

Unfavorable or NegativeNegative feedbackPunishments or disciplineMisery

Favorable or PositivePositive feedbackRewardsHappiness

Unfavorable or NegativeNegative feedbackPunishments or disciplineMisery

Favorable or PositivePositive feedbackRewardsHappiness

Hey, I got off easy. The auditors, investigators, and lawyers worked on the case for 6 years, and the jury had to deliberate for 36 months.

65

Whistleblower ConsequencesWhistleblower Consequences

Negative (Cynthia Cooper, WorldCom)Alienation or chastising for not

being a team player Loss of job

PositiveProtection of job and statusPromotion and other rewardsPositive recognition

Negative (Cynthia Cooper, WorldCom)Alienation or chastising for not

being a team player Loss of job

PositiveProtection of job and statusPromotion and other rewardsPositive recognition

66

Cynthia Cooper, CPA, CISA, CFE


Cynthia Cooper is an internal auditor and consultant who is best known for being the whistleblower who exposed massive accounting fraud at WorldCom in 2002.On June 11 2002, Sullivan asked Cooper to delay the

audit and she refused. The next day Cooper told the head of the audit committee about her findings. Finally, Cooper and her team confronted WorldCom's controller David Myers who, according to an internal audit memo, admitted that he knew the accounting could not be justified. On June 20, Cooper and a team member attended an audit-committee meeting of WorldCom's board of directors at which Sullivan was to explain his accounting strategy. Sullivan asked for more time to fully support his argument. When he could not justify his accounting strategy, he was asked to resign. Sullivan refused to step down and was fired on June 24. The next day, WorldCom came clean about its financial situation.

Cynthia Cooper is an internal auditor and consultant who is best known for being the whistleblower who exposed massive accounting fraud at WorldCom in 2002.On June 11 2002, Sullivan asked Cooper to delay the

audit and she refused. The next day Cooper told the head of the audit committee about her findings. Finally, Cooper and her team confronted WorldCom's controller David Myers who, according to an internal audit memo, admitted that he knew the accounting could not be justified. On June 20, Cooper and a team member attended an audit-committee meeting of WorldCom's board of directors at which Sullivan was to explain his accounting strategy. Sullivan asked for more time to fully support his argument. When he could not justify his accounting strategy, he was asked to resign. Sullivan refused to step down and was fired on June 24. The next day, WorldCom came clean about its financial situation.

67



In August 2002, Sullivan was indicted on charges of securities fraud. WorldCom filed for bankruptcy and 17,000 employees were made redundant around the globe. Shareholders have lost some $3 billion. The California public employees' retirement system, the largest state pension fund in the United States, lost $580 million it had invested in WorldCom.Cooper continued to work at WorldCom (which has now

changed its name to MCI) before leaving to run her own consulting business. Despite the fact that WorldCom carried out many of her recommendations, Cooper was not personally thanked by any senior executive for her actions. However, she has received more than 100 letters and e-mails from strangers thanking her and offering encouragement. Cooper was named one of three "People of the

Year" by Time magazine in 2002.

In August 2002, Sullivan was indicted on charges of securities fraud. WorldCom filed for bankruptcy and 17,000 employees were made redundant around the globe. Shareholders have lost some $3 billion. The California public employees' retirement system, the largest state pension fund in the United States, lost $580 million it had invested in WorldCom.Cooper continued to work at WorldCom (which has now

changed its name to MCI) before leaving to run her own consulting business. Despite the fact that WorldCom carried out many of her recommendations, Cooper was not personally thanked by any senior executive for her actions. However, she has received more than 100 letters and e-mails from strangers thanking her and offering encouragement. Cooper was named one of three "People of the

Year" by Time magazine in 2002.

New IRS Form 990 Whistleblower Rules!New IRS Form 990

Whistleblower Rules! A whistleblower policy encourages

staff and volunteers to come forward with credible information on illegal practices or violations of adopted policies of the organization, specifies that the organization will protect the individual from retaliation, and identifies those staff or board members or outside parties to whom such information can be reported.

A whistleblower policy encourages staff and volunteers to come forward with credible information on illegal practices or violations of adopted policies of the organization, specifies that the organization will protect the individual from retaliation, and identifies those staff or board members or outside parties to whom such information can be reported. 68

69

Perpetrator Consequences

Perpetrator Consequences

NegativePrison termLoss of assetsLoss of earning abilityNegative publicity and public ridicule

PositiveShort prison time in country club facilityTime to hide or dispose of assets before

judgmentMinimal discipline

NegativePrison termLoss of assetsLoss of earning abilityNegative publicity and public ridicule

PositiveShort prison time in country club facilityTime to hide or dispose of assets before

judgmentMinimal discipline

70

Consequences???Consequences???

Are the intended CONSEQUENCES slowing down the ETHICAL failures today?Why does it seem the ETHICAL FOUNDATION of our country is CRACKED?

Are the intended CONSEQUENCES slowing down the ETHICAL failures today?Why does it seem the ETHICAL FOUNDATION of our country is CRACKED?

Are We Ready for an ETHICAL Bailout?

Are We Ready for an ETHICAL Bailout?

Financial calamity can surface immorality. When markets collapse people get nervous and want their money back. This has a way of revealing fraud and deceit.

The recent financial collapse has exposed the depths of our moral depravity. Instead of a financial bailout we need an ethical bailout. Whether it's the sub prime loan crisis, a Governor selling Senate seats, or Bernie Madoff allegedly duping some of the wealthiest people in the world, the core underlying issue is a lack of integrity.

True integrity comes with a healthy dose of fear. Many leaders no longer fear the law, their customers, or even

their own conscience. What will it take to bail out our ethics?

Financial calamity can surface immorality. When markets collapse people get nervous and want their money back. This has a way of revealing fraud and deceit.

The recent financial collapse has exposed the depths of our moral depravity. Instead of a financial bailout we need an ethical bailout. Whether it's the sub prime loan crisis, a Governor selling Senate seats, or Bernie Madoff allegedly duping some of the wealthiest people in the world, the core underlying issue is a lack of integrity.

True integrity comes with a healthy dose of fear. Many leaders no longer fear the law, their customers, or even

their own conscience. What will it take to bail out our ethics? 71

Practical Puzzle Pieces Used To Strengthen ourETHICAL Foundations

Practical Puzzle Pieces Used To Strengthen ourETHICAL Foundations

73

Cracked ETHICAL Foundation??


Cracked ETHICAL Foundation

Cultura

l Rel

ativ

ism

Cultura

l Rel

ativ

ism

Situat

ion E

thic

s

Situat

ion E

thic

s

Behaviorism

BehaviorismSELL O

UT at Any Cost

SELL OUT at Any Cost

74



BehaviorismBehaviorism—The result…people are not responsible for personal behavior.

Cultural RelativismCultural Relativism– – TThere are no absolute or objective moral standards that apply to all people everywhere and at all times.

Situation EthicsSituation Ethics——“end justifies the means”.

Sell Out At Any CostSell Out At Any Cost—“Me” generation…no one else mattersNo “rules” or “absolutes”

BehaviorismBehaviorism—The result…people are not responsible for personal behavior.

Cultural RelativismCultural Relativism– – TThere are no absolute or objective moral standards that apply to all people everywhere and at all times.

Situation EthicsSituation Ethics——“end justifies the means”.

Sell Out At Any CostSell Out At Any Cost—“Me” generation…no one else mattersNo “rules” or “absolutes”

75

SOLID SOLID

ETHICAL Foundation

Honesty (truthfulness, openness)Integrity (convictions, courage)

Objectivity (independence, fairness, equality)

Promise Keeping (fulfilling commitments)

Fidelity (loyalty, confidentiality)

Caring (compassion, kindness)Respect (dignity)

Accountability (responsibility)

Excellence (quality of work)Social responsibility (respect for law)

Ethical Absolutes Based on GOD’s moral law revealed in the Bible

76

ETHICAL AbsolutesETHICAL Absolutes

God’s moral revelation in His Word (the Bible) is an expression of His own nature.God’s moral and ethical system consists of more than external conformity to His moral code; it centers on conformity with internal issues of motivation and personal attitudes.

God provides the absolute criteria for determining the value of human beings.

God’s moral revelation in His Word (the Bible) is an expression of His own nature.God’s moral and ethical system consists of more than external conformity to His moral code; it centers on conformity with internal issues of motivation and personal attitudes.

God provides the absolute criteria for determining the value of human beings.

77

Seven Puzzle Pieces to a Solid

Personal ETHICAL Foundation


Personal ETHICAL Foundation E valuate Constantly

T one at the Top

H eart

I ntegrity

C haracter

A ccountability

L ong lasting

E valuate Constantly

T one at the Top

H eart

I ntegrity

C haracter

A ccountability

L ong lasting

78

E valuate ConstantlyE valuate Constantly

Personal “Ethics Audit”Are your values clear?Do you have a daily Ethics strategy?Do you have personally defined Ethical

absolutes you follow?Are you effective in following your Ethical

absolutes?Do you lead the Ethical decision making at

work?Do you “walk the talk” all areas of life? Are you Ethically consistent no matter how

well life is going?

Personal “Ethics Audit”Are your values clear?Do you have a daily Ethics strategy?Do you have personally defined Ethical

absolutes you follow?Are you effective in following your Ethical

absolutes?Do you lead the Ethical decision making at

work?Do you “walk the talk” all areas of life? Are you Ethically consistent no matter how

well life is going?

Mentor?Mentor?Do you have a mentor to counsel with?

Are you being a mentor to someone else?

Do you have a mentor to counsel with?

Are you being a mentor to someone else?

79

80

T one at the TopT one at the TopDo you enable people at work, home or in your community do the right thing, both legally and morally?Do you provide positive feed back to the people you impact? Do you LISTEN?Do you assist the people around you navigate “gray” areas where no specific compliance rules or guidelines exist? OR Do you let them figure it out on their own?Do you promote a willingness for people around you to seek assistance and report problems before the point of no return?

Do you enable people at work, home or in your community do the right thing, both legally and morally?Do you provide positive feed back to the people you impact? Do you LISTEN?Do you assist the people around you navigate “gray” areas where no specific compliance rules or guidelines exist? OR Do you let them figure it out on their own?Do you promote a willingness for people around you to seek assistance and report problems before the point of no return?

81

H eartH eart"The heart is hopelessly dark and deceitful, a PUZZLE that no one can figure out. But I, God, search the heart and examine the mind. I get to the heart of the human. I get to the root of things. I treat them as they really are, not as they pretend to be.“

Jeremiah 17:9 (The Message)

Do you allow your HEART and MIND to be searched daily?

Is it easy to pretend we are Ethical?

"The heart is hopelessly dark and deceitful, a PUZZLE that no one can figure out. But I, God, search the heart and examine the mind. I get to the heart of the human. I get to the root of things. I treat them as they really are, not as they pretend to be.“

Jeremiah 17:9 (The Message)

Do you allow your HEART and MIND to be searched daily?

Is it easy to pretend we are Ethical?

82

I ntegrityI ntegrityWebster Definition of Integrity:1 : firm adherence to a code of especially

moral or artistic values : INCORRUPTIBILITY2 : an unimpaired condition :

SOUNDNESS3 : the quality or state of being complete

or undivided : COMPLETENESSsynonym see HONESTYThe integrity of the honest keeps them on track; the deviousness of crooks brings them to ruin. Proverbs 11:3 (The Message)

Webster Definition of Integrity:1 : firm adherence to a code of especially

moral or artistic values : INCORRUPTIBILITY2 : an unimpaired condition :

SOUNDNESS3 : the quality or state of being complete

or undivided : COMPLETENESSsynonym see HONESTYThe integrity of the honest keeps them on track; the deviousness of crooks brings them to ruin. Proverbs 11:3 (The Message)

83

I ntegrityI ntegrity

"A life lived with integrity - even if it lacks the trappings of fame and fortune is a shinning star in whose light others may follow in the years to come."- Denis Waitley

"A life lived with integrity - even if it lacks the trappings of fame and fortune is a shinning star in whose light others may follow in the years to come."- Denis Waitley

84

C haracterC haracterWebster Definition of Character:the complex of mental and ethical

traits marking and often individualizing a person, group, or nation <the character of the American people>

Moral character makes for smooth traveling; an evil life is a hard life.

Proverbs 11:5 (The Message)

Webster Definition of Character:the complex of mental and ethical

traits marking and often individualizing a person, group, or nation <the character of the American people>

Moral character makes for smooth traveling; an evil life is a hard life.

Proverbs 11:5 (The Message)

85

A ccountabilityA ccountabilityWebster Definition of Accountability:an obligation or willingness to

accept responsibility or to account for one's actions <public officials lacking accountability>

Even a child is known by his actions, by whether his conduct is pure and right. Proverbs

20:11 (The Message)

Webster Definition of Accountability:an obligation or willingness to

accept responsibility or to account for one's actions <public officials lacking accountability>

Even a child is known by his actions, by whether his conduct is pure and right. Proverbs

20:11 (The Message)

86

L ong lastingL ong lasting

Creating an EthicalEthical environment/foundation is like running a marathon…It requires ten thousand steps.It is full of setbacks, aches, pains and

aggravations.It is full of factors that you cannot control.If you stop, you’ve lost.

Webster Definition of Marathon: something (as an event, activity, or session) characterized by great length or concentrated effort

Creating an EthicalEthical environment/foundation is like running a marathon…It requires ten thousand steps.It is full of setbacks, aches, pains and

aggravations.It is full of factors that you cannot control.If you stop, you’ve lost.

Webster Definition of Marathon: something (as an event, activity, or session) characterized by great length or concentrated effort

88

Where Do WE Start?Where Do WE Start?How Do WE Maintain a

Solid ETHICAL Foundation?

Look at

the B

EST Eth

ical C

ompan

ies?

Personal “Ethical Audit”?

89

Firms Ranked on Ethical Behavior –2008

TOP 100

Firms Ranked on Ethical Behavior –2008

TOP 100Dave Stangis, the Director of Corporate Responsibility for

Intel, which has been on the list since Business Ethics magazine developed it nine years ago, characterizes Intel’s top-of-the heap ranking as “a really strong attribution.”He adds that 100 Best over the years has had “a huge

impact internally” at the company and executives view the category scores and rankings as a significant “learning opportunity.”Business Ethics magazine published 100 Best for the first

seven years, and CRO published 100 Best in 2007, and now presents 100 Best 2008.

In the nine years that 100 Best has been tabulated, just three companies—Intel, Cisco (No. 14) and Starbucks (No. 35)—have appeared on the list every year.

Dave Stangis, the Director of Corporate Responsibility for Intel, which has been on the list since Business Ethics magazine developed it nine years ago, characterizes Intel’s top-of-the heap ranking as “a really strong attribution.”He adds that 100 Best over the years has had “a huge

impact internally” at the company and executives view the category scores and rankings as a significant “learning opportunity.”Business Ethics magazine published 100 Best for the first

seven years, and CRO published 100 Best in 2007, and now presents 100 Best 2008.

In the nine years that 100 Best has been tabulated, just three companies—Intel, Cisco (No. 14) and Starbucks (No. 35)—have appeared on the list every year.

90

2008 Top 100 continued…

2008 Top 100 continued…

"What distinguishes the 100 best corporate "What distinguishes the 100 best corporate citizens from their peers is acitizens from their peers is a commitment to higher commitment to higher standardsstandards," said the editor of CRO said the editor of CRO magazine. "The list represents ... those magazine. "The list represents ... those [companies] that[companies] that perform to a perform to a higher standard in serving a higher standard in serving a variety of stakeholders with variety of stakeholders with excellence and integrityexcellence and integrity."

"What distinguishes the 100 best corporate "What distinguishes the 100 best corporate citizens from their peers is acitizens from their peers is a commitment to higher commitment to higher standardsstandards," said the editor of CRO said the editor of CRO magazine. "The list represents ... those magazine. "The list represents ... those [companies] that[companies] that perform to a perform to a higher standard in serving a higher standard in serving a variety of stakeholders with variety of stakeholders with excellence and integrityexcellence and integrity."

Building an ETHICAL Framework

By Thomas R. Krause and Paul J. Voss



10 questions to consider in encouraging an ethical corporate culture.1. What is the relationship between ethics

and other performance metrics in the company?

2. Have we, as required by the 2004 federal sentencing guidelines, offered ethics training for all of our employees? Does the training provide more than rote introduction of the company’s code of conduct?

10 questions to consider in encouraging an ethical corporate culture.1. What is the relationship between ethics

and other performance metrics in the company?

2. Have we, as required by the 2004 federal sentencing guidelines, offered ethics training for all of our employees? Does the training provide more than rote introduction of the company’s code of conduct?

91




By Thomas R. Krause and Paul J. Voss 10 questions to consider in encouraging an ethical corporate culture. (Continued)3. What is the relationship between

exercising sound ethics and retaining great talent?

4. Have we conducted a “risk assessment” to determine our exposure to major ethical damage? What is our potential Enron?

5. How can we be proactive in the area of ethics, culture and corporate citizenship?

10 questions to consider in encouraging an ethical corporate culture. (Continued)3. What is the relationship between

exercising sound ethics and retaining great talent?

4. Have we conducted a “risk assessment” to determine our exposure to major ethical damage? What is our potential Enron?

5. How can we be proactive in the area of ethics, culture and corporate citizenship?

92





10 questions to consider in encouraging an ethical corporate culture. (Continued)6. What tone should executive leadership set

regarding ethics, integrity and transparency? 7. What does management need from the

board of directors and senior leadership to enhance and buttress corporate ethics?

8. Who is driving ethics and compliance in the company?

10 questions to consider in encouraging an ethical corporate culture. (Continued)6. What tone should executive leadership set

regarding ethics, integrity and transparency? 7. What does management need from the

board of directors and senior leadership to enhance and buttress corporate ethics?

8. Who is driving ethics and compliance in the company?

93





10 questions to consider in encouraging an ethical corporate culture. (Continued)9. Do we have consistency of message

between and among the board, the CEO, the senior executive team and the associates in terms of ethics and culture?

10. What roadblocks now discourage ethical conversations and the implementation of ethical practices, procedures and protocols?

10 questions to consider in encouraging an ethical corporate culture. (Continued)9. Do we have consistency of message

between and among the board, the CEO, the senior executive team and the associates in terms of ethics and culture?

10. What roadblocks now discourage ethical conversations and the implementation of ethical practices, procedures and protocols?

94

95

Jim Collins author of “Built to Last” and “Good to

Great”

Jim Collins author of “Built to Last” and “Good to

Great”Importance of EthicsImportance of Ethics in in any successful company:any successful company:““Our research points to one Our research points to one

essential element in any essential element in any successful company. Those successful company. Those

that are best havethat are best have built a built a set of core values and set of core values and lived by themlived by them.”.”

Importance of EthicsImportance of Ethics in in any successful company:any successful company:““Our research points to one Our research points to one

essential element in any essential element in any successful company. Those successful company. Those

that are best havethat are best have built a built a set of core values and set of core values and lived by themlived by them.”.”

Seven Laws of the HarvestSeven Laws of the Harvest

1.We reap only what we sow.2.We reap the same kind as we sow.3.We reap in a different season than we

sow.4.We reap more than we sow.5.We reap in proportion to what we sow.6.We reap a full harvest only if we

persevere.7.We cannot do anything about last

year’s harvest, but we can do something about this year’s harvest.

1.We reap only what we sow.2.We reap the same kind as we sow.3.We reap in a different season than we

sow.4.We reap more than we sow.5.We reap in proportion to what we sow.6.We reap a full harvest only if we

persevere.7.We cannot do anything about last

year’s harvest, but we can do something about this year’s harvest.

97

How would your FAMILY, FRIENDS or PEERS categorize

YOUR personal ETHICS?



You are always ethicalYou are mostly ethicalYou are somewhat ethical

You are always ethicalYou are mostly ethicalYou are somewhat ethical

98





You are seldom ethicalYou are never ethical

You are seldom ethicalYou are never ethical

99

What Do You Reflect to the People Around You?

What Do You Reflect to the People Around You?

100

Each DAY is a NEW

DAY! Each DAY is a NEW

DAY!

101

SOLID SOLID

ETHICAL Foundation

Honesty (truthfulness, openness)Integrity (convictions, courage)

Objectivity (independence, fairness, equality)

Promise Keeping (fulfilling commitments)

Fidelity (loyalty, confidentiality)

Caring (compassion, kindness)Respect (dignity)

Accountability (responsibility)

Excellence (quality of work)Social responsibility (respect for law)

Ethical Absolutes Based on GOD’s moral law revealed in the Bible

102


Personal ETHICAL Foundation


Personal ETHICAL Foundation E valuate Constantly

T one at the Top

H eart

I ntegrity

C haracter

A ccountability

L ong lasting

E valuate Constantly

T one at the Top

H eart

I ntegrity

C haracter

A ccountability

L ong lasting

103

Are You Staying ETHICAL ly Fit??Are You Staying ETHICAL ly Fit??

To Stay in Good Physical Shape can you?Workout once a month…a year?Workout for only one minute?Not worry about consistency?Forget about challenging yourself?

Is it any different for us trying to stay in Good ETHICAL Shape?

To Stay in Good Physical Shape can you?Workout once a month…a year?Workout for only one minute?Not worry about consistency?Forget about challenging yourself?

Is it any different for us trying to stay in Good ETHICAL Shape?

This is not the type of “Exercise” Program I was thinking of?

This is not the type of “Exercise” Program I was thinking of?

105

What Really Matters?What Really Matters?“If you haven’t defined your values, I encourage you to do

so...then live them out everyday!!! Then work hard to keep the UNIMPORTANT

from becoming IMPORTANT, and the IMPORTANT from

becoming UNIMPORTANT.” John Maxwell

“If you haven’t defined your values, I encourage you to do

so...then live them out everyday!!! Then work hard to keep the UNIMPORTANT

from becoming IMPORTANT, and the IMPORTANT from

becoming UNIMPORTANT.” John Maxwell

106

QUESTIONS?QUESTIONS?D. Scot Loyd, CGFM, CPA

Swindoll, Janzen, Hawk & Loyd, LLCCertified Public Accountants

123 South MainMcPherson, Kansas 67460

Phone: 1.888.241.1826E-mail: [email protected]

D. Scot Loyd, CGFM, CPASwindoll, Janzen, Hawk & Loyd, LLC

Certified Public Accountants123 South Main

McPherson, Kansas 67460Phone: 1.888.241.1826

E-mail: [email protected]

Ethics in Work and in Life D. Scot Loyd, CGFM, CPA Swindoll, Janzen, Hawk & Loyd, LLC McPherson,...

Documents

Transcript of Ethics in Work and in Life D. Scot Loyd, CGFM, CPA Swindoll, Janzen, Hawk & Loyd, LLC McPherson,...