Leonard J. Brooks is professor emeritus of business ethics and accounting at the Rotman School of Management, the Institute of Management & innovation and the Department of Management of the University of Toronto. He is the director emeritus of the Professional Accounting Centre, the Master of Forensic Accounting Program (formerly the Diploma in Investigative & Forensic Accounting Program) and the Master on Management & Professional Accounting programs at U. of T. 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 co-authored "Business & Professional Ethics For Directors, Executives & Accountants," 9e, with Paul Dunn; "Ethics & Governance: Developing and Maintaining an Ethical Corporate Culture," 4e, with David Selley and "Principles of Stakeholder Management: The Clarkson Principles" with Lee Preston and Thomas Donaldson. 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 Canadian Institute of 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 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 is a professor of business ethics at the Goodman School of Business, Brock University. Dr. Dunn has a doctorate in accounting from Boston University as well as two degrees in philosophy from the University of Toronto. He is a CPA who worked in downtown Toronto with Ernst & Young (as a chartered accountant), the Canadian Imperial Bank of Commerce (in the finance division), as well as in the private sector (in controllership). Professor Dunn’s research focuses on ethics, corporate governance and corporate social responsibility. His theory papers and empirical studies have appeared in a variety of scholarly journals, including the Journal of Business Ethics, Journal of Management, Business & Society and Business Ethics Quarterly. He is consulting editor for the Journal of Business Ethics, associate editor for Business & Society Review as well as editorial member for Business & Society and the Journal of Management and Governance. The media in both Canada and internationally interview Paul Dunn regularly.

• CHAPTER 1 ETHICS EXPECTATIONS The Ethics Environment for Business: The Battle for Credibility, Reputation & Competitive Advantage New Expectations for Business Responses & Developments The Ethics Environment for Professional Accountants Managing Ethics Risks & Opportunities Questions Reading Insights References Case Insights ETHICS CASES involving (number of cases):Improper Behavior (5)Advertising & Sales promotion (4)Financial Transactions (2)Control of Information (2)Concerning the Environment (3)Product Safety (5)Accounting & Auditing (2)CHAPTER 2 ETHICS & GOVERNANCE SCANDALSEthics & Governance: A Timeline of Important Events Ethics & Governance: The Early Developments Prior to 1970 Ethics & Governance: 1970–1990 Ethics & Governance: The Modern Era—1990 to the Present Significant Ethics & Governance Scandals & Events Signs of Ethical Collapse Ethics & Governance: Trends Ethics & Governance: Timetables of Important Events, 1929–2019New sections:Unethical Bank Cultures Produce Scandals#MeToo Movement Reaches a Tipping PointHarmful Products Draw Huge Settlements and Change PerspectivesAccounting Crises lead to Re-imagination of Professional Accountant’s RoleU.S. Business Roundtable Statement Signals Acceptance of Stakeholder InterestsUseful Video & Films Questions References Case Insights ETHICS CASES:Enron, Arthur Andersen, WorldcomLIBOR Manipulations, Deutsche Bank’s Cultural DisasterBernie Madoff Scandal Wal-Mart Bribery, GM Ignition Faults, VW Cheats on Emissions TestsGeneral Motors installed faulty ignition switchesTakata air bags explode injuring passengers with metal shrapnelVolkswagen software defeats environmental exhaust emissions testingValeant Pharmaceuticals and Turing Pharmaceuticals bought drugs and jumped pricesCHAPTER 3 ETHICAL BEHAVIOR—PHILOSOPHERS’ CONTRIBUTIONS 127Ethics & Moral Codes Ethics & Business Self-Interest & Economics Ethics, Business & The Law Major Ethical Theories Useful in Resolving Ethical Dilemmas Moral Imagination Questions Case Insights Useful Video & Film References ETHICS CASES about improper behavior (7)John DeLorean’s Overcommitment to His CompanyGoogle’s Tax Minimization Strategy: Utilitarian ConsequencesNew York Times Dual Class Share Structure: Distributive Injustice?Ben and Jerry’s Application of the Rawlsian Difference Principle Merck and River Blindness: Justice as FairnessBeach-Nut Nutrition Corporation and Blind Corporate LoyaltyJohnson & Johnson’s Worldwide Recall of Tylenol: Virtue EthicsCHAPTER 4 PRACTICAL ETHICAL DECISION MAKINGIntroduction Motivating Developments for Ethical Learning Ethical Decision Making Framework (EDM)—An Overview Philosophical Approaches—An Overview: Consequentialism (Utilitarianism), Deontology, & Virtue Ethics Sniff Tests & Common Heuristics—Preliminary Tests of Ethicality Stakeholder Impact Analysis—Comprehensive Tool for Assessing Decisions & Actions Stakeholder Impact Analysis: Modified Traditional Decision-Making Approaches Integrating Philosophical & Stakeholder Impact Analysis Approaches Other Ethics Decision-Making Issues A Comprehensive Ethical Decision-Making Framework Conclusion Questions References Illustrative Applications & Case Insights ILLUSTRATIVE APPLICATIONS (4)ETHICS CASES About:Harm to individuals (4)Harm to the environment (1)Governance decisions (3)CHAPTER 5 CORPORATE ETHICAL GOVERNANCE & ACCOUNTABILITYModern Governance & Accountability Framework—To Shareholders & Other Stakeholders New Expectations—New Framework to Restore CredibilityCorporate Governance Overview Accountability to Shareholders or Stakeholders?The Shareholder Value MythGovernance for Broad Stakeholder AccountabilityGuidance Mechanisms—Ethical Culture & Code of ConductThreats to Good Governance & Accountability Misunderstanding Objectives & Fiduciary DutyFailure to Identify & Manage Ethics RisksConflicts of InterestKey Elements of Corporate Governan

Leonard J. Brooks is professor emeritus of business ethics and accounting at the Rotman School of Management, the Institute of Management & innovation and the Department of Management of the University of Toronto. He is the director emeritus of the Professional Accounting Centre, the Master of Forensic Accounting Program (formerly the Diploma in Investigative & Forensic Accounting Program) and the Master on Management & Professional Accounting programs at U. of T. 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 co-authored "Business & Professional Ethics For Directors, Executives & Accountants," 9e, with Paul Dunn; "Ethics & Governance: Developing and Maintaining an Ethical Corporate Culture," 4e, with David Selley and "Principles of Stakeholder Management: The Clarkson Principles" with Lee Preston and Thomas Donaldson. 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 Canadian Institute of 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 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 is a professor of business ethics at the Goodman School of Business, Brock University. Dr. Dunn has a doctorate in accounting from Boston University as well as two degrees in philosophy from the University of Toronto. He is a CPA who worked in downtown Toronto with Ernst & Young (as a chartered accountant), the Canadian Imperial Bank of Commerce (in the finance division), as well as in the private sector (in controllership). Professor Dunn’s research focuses on ethics, corporate governance and corporate social responsibility. His theory papers and empirical studies have appeared in a variety of scholarly journals, including the Journal of Business Ethics, Journal of Management, Business & Society and Business Ethics Quarterly. He is consulting editor for the Journal of Business Ethics, associate editor for Business & Society Review as well as editorial member for Business & Society and the Journal of Management and Governance. The media in both Canada and internationally interview Paul Dunn regularly.

• CHAPTER 1 ETHICS EXPECTATIONS The Ethics Environment for Business: The Battle for Credibility, Reputation & Competitive Advantage New Expectations for Business Responses & Developments The Ethics Environment for Professional Accountants Managing Ethics Risks & Opportunities Questions Reading Insights References Case Insights ETHICS CASES involving (number of cases):Improper Behavior (5)Advertising & Sales promotion (4)Financial Transactions (2)Control of Information (2)Concerning the Environment (3)Product Safety (5)Accounting & Auditing (2)CHAPTER 2 ETHICS & GOVERNANCE SCANDALSEthics & Governance: A Timeline of Important Events Ethics & Governance: The Early Developments Prior to 1970 Ethics & Governance: 1970–1990 Ethics & Governance: The Modern Era—1990 to the Present Significant Ethics & Governance Scandals & Events Signs of Ethical Collapse Ethics & Governance: Trends Ethics & Governance: Timetables of Important Events, 1929–2019New sections:Unethical Bank Cultures Produce Scandals#MeToo Movement Reaches a Tipping PointHarmful Products Draw Huge Settlements and Change PerspectivesAccounting Crises lead to Re-imagination of Professional Accountant’s RoleU.S. Business Roundtable Statement Signals Acceptance of Stakeholder InterestsUseful Video & Films Questions References Case Insights ETHICS CASES:Enron, Arthur Andersen, WorldcomLIBOR Manipulations, Deutsche Bank’s Cultural DisasterBernie Madoff Scandal Wal-Mart Bribery, GM Ignition Faults, VW Cheats on Emissions TestsGeneral Motors installed faulty ignition switchesTakata air bags explode injuring passengers with metal shrapnelVolkswagen software defeats environmental exhaust emissions testingValeant Pharmaceuticals and Turing Pharmaceuticals bought drugs and jumped pricesCHAPTER 3 ETHICAL BEHAVIOR—PHILOSOPHERS’ CONTRIBUTIONS 127Ethics & Moral Codes Ethics & Business Self-Interest & Economics Ethics, Business & The Law Major Ethical Theories Useful in Resolving Ethical Dilemmas Moral Imagination Questions Case Insights Useful Video & Film References ETHICS CASES about improper behavior (7)John DeLorean’s Overcommitment to His CompanyGoogle’s Tax Minimization Strategy: Utilitarian ConsequencesNew York Times Dual Class Share Structure: Distributive Injustice?Ben and Jerry’s Application of the Rawlsian Difference Principle Merck and River Blindness: Justice as FairnessBeach-Nut Nutrition Corporation and Blind Corporate LoyaltyJohnson & Johnson’s Worldwide Recall of Tylenol: Virtue EthicsCHAPTER 4 PRACTICAL ETHICAL DECISION MAKINGIntroduction Motivating Developments for Ethical Learning Ethical Decision Making Framework (EDM)—An Overview Philosophical Approaches—An Overview: Consequentialism (Utilitarianism), Deontology, & Virtue Ethics Sniff Tests & Common Heuristics—Preliminary Tests of Ethicality Stakeholder Impact Analysis—Comprehensive Tool for Assessing Decisions & Actions Stakeholder Impact Analysis: Modified Traditional Decision-Making Approaches Integrating Philosophical & Stakeholder Impact Analysis Approaches Other Ethics Decision-Making Issues A Comprehensive Ethical Decision-Making Framework Conclusion Questions References Illustrative Applications & Case Insights ILLUSTRATIVE APPLICATIONS (4)ETHICS CASES About:Harm to individuals (4)Harm to the environment (1)Governance decisions (3)CHAPTER 5 CORPORATE ETHICAL GOVERNANCE & ACCOUNTABILITYModern Governance & Accountability Framework—To Shareholders & Other Stakeholders New Expectations—New Framework to Restore CredibilityCorporate Governance Overview Accountability to Shareholders or Stakeholders?The Shareholder Value MythGovernance for Broad Stakeholder AccountabilityGuidance Mechanisms—Ethical Culture & Code of ConductThreats to Good Governance & Accountability Misunderstanding Objectives & Fiduciary DutyFailure to Identify & Manage Ethics RisksConflicts of InterestKey Elements of Corporate Governan

Leonard J. Brooks is professor emeritus of business ethics and accounting at the Rotman School of Management, the Institute of Management & innovation and the Department of Management of the University of Toronto. He is the director emeritus of the Professional Accounting Centre, the Master of Forensic Accounting Program (formerly the Diploma in Investigative & Forensic Accounting Program) and the Master on Management & Professional Accounting programs at U. of T. 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 co-authored "Business & Professional Ethics For Directors, Executives & Accountants," 9e, with Paul Dunn; "Ethics & Governance: Developing and Maintaining an Ethical Corporate Culture," 4e, with David Selley and "Principles of Stakeholder Management: The Clarkson Principles" with Lee Preston and Thomas Donaldson. 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 Canadian Institute of 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 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 is a professor of business ethics at the Goodman School of Business, Brock University. Dr. Dunn has a doctorate in accounting from Boston University as well as two degrees in philosophy from the University of Toronto. He is a CPA who worked in downtown Toronto with Ernst & Young (as a chartered accountant), the Canadian Imperial Bank of Commerce (in the finance division), as well as in the private sector (in controllership). Professor Dunn’s research focuses on ethics, corporate governance and corporate social responsibility. His theory papers and empirical studies have appeared in a variety of scholarly journals, including the Journal of Business Ethics, Journal of Management, Business & Society and Business Ethics Quarterly. He is consulting editor for the Journal of Business Ethics, associate editor for Business & Society Review as well as editorial member for Business & Society and the Journal of Management and Governance. The media in both Canada and internationally interview Paul Dunn regularly.

• CHAPTER 1 ETHICS EXPECTATIONS The Ethics Environment for Business: The Battle for Credibility, Reputation & Competitive Advantage New Expectations for Business Responses & Developments The Ethics Environment for Professional Accountants Managing Ethics Risks & Opportunities Questions Reading Insights References Case Insights ETHICS CASES involving (number of cases):Improper Behavior (5)Advertising & Sales promotion (4)Financial Transactions (2)Control of Information (2)Concerning the Environment (3)Product Safety (5)Accounting & Auditing (2)CHAPTER 2 ETHICS & GOVERNANCE SCANDALSEthics & Governance: A Timeline of Important Events Ethics & Governance: The Early Developments Prior to 1970 Ethics & Governance: 1970–1990 Ethics & Governance: The Modern Era—1990 to the Present Significant Ethics & Governance Scandals & Events Signs of Ethical Collapse Ethics & Governance: Trends Ethics & Governance: Timetables of Important Events, 1929–2019New sections:Unethical Bank Cultures Produce Scandals#MeToo Movement Reaches a Tipping PointHarmful Products Draw Huge Settlements and Change PerspectivesAccounting Crises lead to Re-imagination of Professional Accountant’s RoleU.S. Business Roundtable Statement Signals Acceptance of Stakeholder InterestsUseful Video & Films Questions References Case Insights ETHICS CASES:Enron, Arthur Andersen, WorldcomLIBOR Manipulations, Deutsche Bank’s Cultural DisasterBernie Madoff Scandal Wal-Mart Bribery, GM Ignition Faults, VW Cheats on Emissions TestsGeneral Motors installed faulty ignition switchesTakata air bags explode injuring passengers with metal shrapnelVolkswagen software defeats environmental exhaust emissions testingValeant Pharmaceuticals and Turing Pharmaceuticals bought drugs and jumped pricesCHAPTER 3 ETHICAL BEHAVIOR—PHILOSOPHERS’ CONTRIBUTIONS 127Ethics & Moral Codes Ethics & Business Self-Interest & Economics Ethics, Business & The Law Major Ethical Theories Useful in Resolving Ethical Dilemmas Moral Imagination Questions Case Insights Useful Video & Film References ETHICS CASES about improper behavior (7)John DeLorean’s Overcommitment to His CompanyGoogle’s Tax Minimization Strategy: Utilitarian ConsequencesNew York Times Dual Class Share Structure: Distributive Injustice?Ben and Jerry’s Application of the Rawlsian Difference Principle Merck and River Blindness: Justice as FairnessBeach-Nut Nutrition Corporation and Blind Corporate LoyaltyJohnson & Johnson’s Worldwide Recall of Tylenol: Virtue EthicsCHAPTER 4 PRACTICAL ETHICAL DECISION MAKINGIntroduction Motivating Developments for Ethical Learning Ethical Decision Making Framework (EDM)—An Overview Philosophical Approaches—An Overview: Consequentialism (Utilitarianism), Deontology, & Virtue Ethics Sniff Tests & Common Heuristics—Preliminary Tests of Ethicality Stakeholder Impact Analysis—Comprehensive Tool for Assessing Decisions & Actions Stakeholder Impact Analysis: Modified Traditional Decision-Making Approaches Integrating Philosophical & Stakeholder Impact Analysis Approaches Other Ethics Decision-Making Issues A Comprehensive Ethical Decision-Making Framework Conclusion Questions References Illustrative Applications & Case Insights ILLUSTRATIVE APPLICATIONS (4)ETHICS CASES About:Harm to individuals (4)Harm to the environment (1)Governance decisions (3)CHAPTER 5 CORPORATE ETHICAL GOVERNANCE & ACCOUNTABILITYModern Governance & Accountability Framework—To Shareholders & Other Stakeholders New Expectations—New Framework to Restore CredibilityCorporate Governance Overview Accountability to Shareholders or Stakeholders?The Shareholder Value MythGovernance for Broad Stakeholder AccountabilityGuidance Mechanisms—Ethical Culture & Code of ConductThreats to Good Governance & Accountability Misunderstanding Objectives & Fiduciary DutyFailure to Identify & Manage Ethics RisksConflicts of InterestKey Elements of Corporate Governan