1. Identify the stakeholders in this case and the ethical obligations of independent members of the board...

Question:

1. Identify the in this case and the ethical obligations of independent members of the board of directors and audit committee to these parties.
2. What are the legal liabilities of board members and members of the audit committee? Analyze the facts of the case and comment whether they violated their legal ethical obligations.
3. Are there any parallels in the case with the Tyco case discussed in Chapter 5? What are they? Evaluate the role that internal controls played in each case.

Stakeholders
A person, group or organization that has interest or concern in an organization. Stakeholders can affect or be affected by the organization's actions, objectives and policies. Some examples of key stakeholders are creditors, directors, employees,...