Higher Education

Business & Professional Ethics, 6th Edition

  • Leonard J. Brooks University of Toronto
  • Paul Dunn Brock University
  • ISBN-10: 0538478381  |  ISBN-13: 9780538478380
  • 744 Pages
  • © 2012 | Published
  • College Bookstore Wholesale Price = $128.00
  • Newer Edition Available
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Delivering real-world examples of ethical issues in the workplace, BUSINESS & PROFESSIONAL ETHICS FOR DIRECTORS, EXECUTIVES & ACCOUNTANTS, 6E, equips students with the strategies needed to make the most ethical decisions possible--no matter what the situation. By integrating the latest information on ethics and governance scandals, legal liability and professional accounting & audit issues, this text highlights the most recent ethical issues faced in today's business environment. The text examines the background and nature of the new stakeholder-supports an era of corporate and professional accountability and governance, offering valuable insights into the development of sound patterns of behavior on the part of directors, executives, and accountants. More than 80 current cases and key readings provide an interesting, challenging, and practical learning experience. Intriguing real-world situations equip students with an understanding of appropriate values, ethical pitfalls, applicable codes of conduct, and sound ethical reasons where codes do not apply.

Features and Benefits

  • The Sixth Edition includes two chapters: "Philosophers' Contributions to Ethical Behavior" includes full integration of international (IFAC) ethical standards to which the world is harmonizing, and enhanced treatment of corporate social responsibility. A section on fraud and white-collar crime includes crime motivations and an analysis of a real case. "The Subprime Lending Fiasco" discusses the ethics and governance aspects of the recent subprime mortgage lending debacle.
  • NEW or expanded coverage also includes the globalization of business and professional ethics, Enron updates, modifications and improvements to practical decision-making approaches, examples of philosophical and practical decision-making approaches, ethical corporate cultures, alternative governance theories, and more.
  • The text features more than 80 cases including illustrative applications. Giving students hands-on experience with real-world issues, cases cover subprime lending, adult entertainment and cell phones, limits to exploitive and risqué advertising, bankruptcy ethics, hazardous products, iPhone and disappointed customers, terrorist payments, non-business crime disclosures, staff perks, tax issues, the practice of spying on HP directors, MCI and bad debts, minority controlling shareholders, gifts of publicly traded shares, ethics of re pricing employee stock options, rogue traders, and more.
  • At various points in the text, websites are listed to encourage students to research source documents, the SEC, news sources, and more.
  • Additional resources are found at login.cengage.com including PowerPoint® slides, the Instructor's Manual, course outlines, suggested Executive MBA and MBA Course Outlines, cases, and the links used in the textbook.

Table of Contents

1. Ethics Expectations.
2. Ethics & Governance Scandals
3. Philosophers' Contributions.
4. Practical Ethical Decision Making.
5. Corporate Ethical Governance & Accountability.
6. Professional Accounting in the Public Interest, Post-Enron.
7. Managing Ethics Risks and Opportunities.
8. The Subprime Lending Fiasco.

What's New

  • 20 New Cases are provided, and video web references for cases and issues are included to add relevance and interest for the reader. Numerous readings have been updated on companies such as Apple, Enron, Texaco, and Exxon Valdez.
  • NEW CHAPTER ON ETHICS AND GOVERNANCE SCANDALS: A new chapter documents and analyzes the history major scandals that have led to significant shifts in ethics and governance thinking, practices and regulation since 1970. Important new cases are added, including Bernie Madoff Scandal – The King of Ponzi Schemes. The Enron Scandal is provided in detail as an appendix.
  • UPDATE TO SUBPRIME LENDING CRISIS CHAPTER: The Subprime Lending Crisis Chapter, previously written during the height of the crisis, is now extended to document and analyze events up to December 2010. New cases include: Goldman Sachs: Guilty or Not; and Lehman Brothers Repo 105 Manipulation.
  • UPDATED COVERAGE ON PROFESSIONAL ACCOUNTING AND AUDIT ISSUES: Coverage of the role and practices of professional accountants and auditors is updated with the inclusion of the recently released IFAC Code of Ethics which becomes effective on January 1, 2011, and new rules governing best practices when providing advice or preparing a submission to the IRS. Discussion is included on the challenges of making accounting decisions based on principles rather than rules. Many new cases are included that illustrate accounting manipulation, audit difficulties and settlements, and purchasing problems.
  • UPDATED APPENDIX ON LEGAL LIABILITY OF PROFESSIONAL ACCOUNTANTS: This appendix has been rewritten to incorporate discussion on the most recent liability developments and defenses for professional accountants. Commentary is provided on key historic and modern cases.
  • ENHANCED COVERAGE ON EMERGING ISSUES AND PRACTICES: Enhanced coverage in the form of cases and/or discussion is offered on: global business practices (Guanxi in China and bribery); environmental risk management (BP's oil spill); discrimination (Novartis $250 million settlement); sexual harassment; civil work environment; and white collar crime motivation theories.

Meet the Author

Author Bio

Leonard J. Brooks

Leonard J. Brooks is Professor of Business Ethics & Accounting at the Rotman School of Management of the University of Toronto. He is Executive Director of the Clarkson Centre for Business Ethics & Board Effectiveness, Director of the Professional Accounting Centre, the Master of Management & Professional Accounting Program, and the Master of Forensic Accounting Program (formerly the Diploma in Investigative & Forensic Accounting Program). Professor Brooks served 14 years on the Editorial Board of the Journal of Business Ethics and as Founding Editor of Corporate Ethics Monitor, a pioneering bimonthly publication. He has published articles on ethics issues in the Journal of Business Ethics, Accounting Organizations and Society, Canadian Accounting Perspectives, and Business & Society. He authored BUSINESS & PROFESSIONAL ETHICS FOR ACCOUNTANTS, 2E; ETHICS & GOVERNANCE: DEVELOPING AND MAINTAINING AN ETHICAL CORPORATE CULTURE, 4E; and PRINCIPLES OF STAKEHOLDER MANAGEMENT: THE CLARKSON PRINCIPLES. Professor Brooks also authored/edited the research monograph CANADIAN CORPORATE SOCIAL PERFORMANCE. Prior to joining the University of Toronto, he obtained his CA designation (in 1970) and subsequently became an audit manager and Director of Manpower for Touche Ross & Co. (now Deloitte) in Toronto. Professor Brooks served as a member, then chair, of the Chartered Accountants’ national Board of Examiners and chair of its national Syllabus Committee. He was named a Fellow of the Institute of Chartered Accountants (FCA) of Ontario in 1982. These professional designations were converted to CPA and FCPA in 2012. He consults with individuals, corporations, governmental and non-governmental organizations and serves as an expert witness and frequent media-commentator. Professor Brooks is also a former director of the Canadian Centre for Ethics & Corporate Policy and a former president of the Canadian Academic Accounting Association.

Paul Dunn

Paul Dunn is an Associate Professor of Business Ethics and the Chair of the Organizational Behaviour, Human Resources, Entrepreneurship and Ethics department at the Goodman School of Business, Brock University. Dr. Dunn holds two degrees in philosophy: a bachelor’s and a master’s, both from the University of Toronto. He also holds a doctorate in accounting from Boston University. He is also a CPA and was a practicing chartered accountant in downtown Toronto for a dozen years. Dr. Dunn’s research focuses on corporate governance and corporate social responsibility. His work has been published in a variety of scholarly journals, including Journal of Business Ethics, Journal of Management, Business & Society, Journal of Management and Governance and Business Ethics Quarterly. He sits on the editorial boards of the Journal of Business Ethics and Business & Society and is an active review more than a half-dozen other scholarly journals. He is the Treasurer of the Social Issues in Management division of the Academy of Management as well as serving as the Treasurer for the Society for Business Ethics. He has been interviewed on TV, the radio, and in the press in Canada, the United States and Sweden.