The significance of ethics and compliance in Wal-Mart's organization and its impact on the financial environment will be explored in this article. Wal-Mart, which began as a single store in 1962, now operates over 3,600 stores in the US and internationally across 15 markets. The article will examine the steps taken by the company to promote ethical conduct and adhere to SEC regulations. Furthermore, an evaluation of Wal-Mart's financial performance over the last two years will be conducted by utilizing data from its annual reports to calculate financial ratios.
Assessing financial ratios is essential for evaluating the organization's overall financial health and trends. Wal-Mart's management must follow the Statement of Ethics, which includes a Code of Ethics designed for senior financial officers. Moreover, Wal-Mart has established a Related-Party Transaction Policy to uphold ethics and complianc
...e for the company's sustainability.
The policy at Wal-Mart applies to both senior officers and directors. These individuals are required to have their material related-party transactions reviewed by the Audit Committee and report them to Wal-Mart (Duke and Schoewe, 2009). Furthermore, all associates at Wal-Mart must follow the company's Statement of Ethics. The CEO and other Senior Financial Officers, like the CFO and Corporate Controller, must also comply with this statement in terms of being honest and ethical, avoiding conflicts of interest, and obeying all laws.
Both the CEO and Senior Financial Officers are bound by the Statement of Ethics as well as specific policies. If they are required to report under any of these policies, they must promptly inform Internal Audit Services and the Audit Committee. Similarly, other Senior Financial Officers should notify their immediate supervisor and either Internal Audi
Services or the Audit Committee, depending on the situation, if they have a reporting obligation under any of these policies.
The term "Senior Financial Officer" in this Code of Ethics refers to individuals such as the CFO, Corporate Controller, officers in Accounting, Finance, and Tax areas, Chief Executive Officers responsible for an operating division, and officers in operating divisions responsible for accounting. Wal-Mart has implemented several procedures to ensure ethical behavior and comply with SEC regulations. These procedures and processes are detailed below:
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