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Restoring Trust: Ethics, Scandals, and the Reform of Financial Reporting Practices

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  • Dr. J. Madegowda

    (Vidyavardhaka College of Engineering, India)

Abstract

This study examines the role of ethics in financial reporting, emphasizing its importance in maintaining transparency, accountability, and stakeholder trust. By analyzing corporate scandals such as Enron, WorldCom, and Satyam, the research identifies systemic failures, governance weaknesses, and individual lapses that contribute to unethical financial practices. Drawing on perspectives from psychology, sociology, law, and corporate governance, the study uses qualitative content analysis to examine regulatory frameworks, corporate governance mechanisms, and ethical decision-making processes. The findings highlight persistent challenges in enforcing ethical standards and emphasize the need for stronger regulatory oversight, ethics education, and integrity-driven corporate cultures to reinforce financial transparency and stakeholder confidence.

Suggested Citation

  • Dr. J. Madegowda, 2025. "Restoring Trust: Ethics, Scandals, and the Reform of Financial Reporting Practices," African Journal of Commercial Studies, African Journal of Commercial Studies, vol. 6(5).
    • Handle: RePEc:cwk:ajocsk:2025-98
    DOI: 10.59413/ajocs/v6.i5.5
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    References listed on IDEAS

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    1. Gagan Kukreja & Sanjay Gupta & Meena Bhatia, 2021. "The Failure of Corporate Governance at Infrastructure Leasing and Financial Services Limited: Lessons Learnt," South Asian Journal of Business and Management Cases, , vol. 10(1), pages 63-76, April.
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