The article by James C. Hyatt entitled “Birth of the Ethics Industry” appearing in Business Ethics Magazine deals with sweeping changes that occurred in corporate America with the passage of Sarbanes-Oxley Act. Corporations are investing time and effort into compliance with the legislation, but they are also working to increase internal controls by introducing “a vast new industry of consultants and suppliers,” creating a new profession and industry (Hyatt, 2005). New business emerges for compliance companies such as Los Angeles-based LRN that has signed a new contract with New York Times and providers of ethics hotlines like Oregon-based EthicsPoint. Section 301 of Sarbanes-Oxley has helped hotlines.
That “requires board audit committees to create a reporting system to receive complaints and tips” (Hyatt, 2005). Continue reading “Ethics Article Review Paper”