In the November 2016 Strategic Finance article, the author, Curtis C. Verschoor, writes, “the WFB [Wells Fargo Bank] experience demonstrates a failure in risk evaluation and management, a key responsibility of senior management accountants. Managers in more senior levels need to keep in mind the critical requirements to consider ethical compliance issues when evaluating implementation of strategic initiatives,” (p. 20).
Using the two articles posted, “Wells Fargo’s Next Job: Fixing Its Mess” and “Wells Revamps Pay After Scandal,” identify one principle or standard of IMA’s Statement of Ethical Professional Practice and one principle of COSO’s Enterprise Risk Management – Aligning Risk with Strategy and Performance Executive Summary, (June 2016), that were violated.
This initial response should be between 100-150 words including your own insights into the topic. Responses to classmates’ postings should be between 100-150 words.