Law and ethics Essay Example | Topics and Well Written Essays - 1000 words - 3

Law and ethics - Essay Example on, it is not wise for any director to take opportunities to serve their own interests on the account of the interests and gains of the company as this shows their incapability of fulfilling their duties of loyalty. Moreover, any director is liable to carrying out duties of care by obtaining information that enables him/her to make informed decisions. Directors should also make it their obligation to attend all committee and board meetings that are held during their tenure. This case discusses facts that relates to the failure of demonstrating fiduciary duties as director by Daniel by his move to persuade his colleagues to purchase a warehouse that was undervalued that worth more than $5000. Daniel also shows his incompetency by signing an insurance policy that was not capable of covering the risks of burglary and that which caused the company to loose $30000. It is clear that Daniel had a conflict of interest that benefitted Paul’s Ltd to pay lower prices and gain from the move by adding $3000 to his person al wealth. Daniel failed to carry out fiduciary duties of loyalty and care as an executive director, working as a chattered accountant of the Sofa & Bed Ltd. There is no doubt that he obtained all the necessary information before making his decision to buy the insurance policy, which caused the company to loose $30000. Daniel also fails to show his loyalty to the company when he allowed to be bribed by $3000 to offer lower price to Paul’s Ltd and accept the bribe as his person al gain. Corporate governance acts as a mechanism that protects the management; insiders from the outsiders; stakeholders, creditors, regulators and customers. Corporate governance; however, has shown major failure in the recent financial crisis, which portrayed a clear picture of real failure attributed to gatekeepers represented in audit and credit rating agencies when the CG failed to heed the alarm. Apparently, the gatekeeper too advantage of the deregulations proposed by SEC

Comparing Between American Education and Saudi Education Research Paper

Comparing Between American Education and Saudi Education - Research Paper Example A comparison between the weakest and the strongest education systems can assist in understanding the benefits of a good educational system and provide guidance for the improvement of the weak educational system. It is for this reason that I want to compare the American Education and Saudi Education to understand the shortcomings of the educational system of Saudi Arabia. America is a nation with a very strong educational system whereas Saudi Arabia lacks in this field and it is for this reason that a comparison of the education in the two countries can highlight the factors that need to be improved in the education of Saudi Arabia. The governments in the United States and Saudi Arabia both work extensively for the promotion of the education in their respective countries. Both the countries are known to spend extensively for improving the educational sector. The countries offer free education to students till the school level. Saudi Arabia also offers financial assistance to students for further education. The two countries have similar sets of schools which include the schools of the public sector, the government sector and the option of home schooling is also available. But there are still many differences in the education imparted in two countries. This can be understood by comparing the literacy rates of the two countries. 99 percent of the males as well as the females in the United States are educated. On the other hand, only 84.7 percent males and 70.8 percent females are literate in Saudi Arabia. The two countries have many similarities in their educational systems but striking differences have also been noted. The education system in Saudi Arabia has a strong role of religion and Islamic studies are a compulsory part of the curriculum in the educational institutions in the country. This is not true in the United States as religious studies are not compulsory in most of the educational institutions. The grading system in the two countries is also differen t. In the United States, students are given grades from A to F where A is the highest grade and F is the lowest one. On the other hand, the grading system in Saudi Arabia is from 5 to 1 with 5 being the highest mark and 1 being the lowest. The two countries also have different policies with regard to attendance in the educational institutions. In the United States, there is a compulsion for the students to be present in their schools. This is implemented in primary and secondary educational institutions. This rule is not implied in Saudi Arabia and attendance in primary and secondary schools is not checked with much strictness (Stevenson). Medical education is extremely important for all the countries of the world. There is a sharp difference between the medical educational system and practicing in the United States and Saudi Arabia. The United States has very good medical institutions that excel in teaching medicine and are marked to be the best across the globe. Furthermore, there are many educational programs for the medical health professionals and there are strictly regulated examinations in the country which ensure the fact that qualified professionals enter the field (Dezee et al 521). On the other hand, medical education in Saudi Arabia lacks these qualities. Many new medical instituti