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VALUE SHIFT: WHY COMPANIES MUST MERGE SOCIAL AND FINANCIAL IMPERATIVES TO ACHIEVE SUPERIOR PERFORMANCE Lynn Sharp Paine. New York: McGraw Hill, 2003, 302 pages.
This book about the importance of the organization's ethical culture is a manifestation of the newer areas in which internal auditors are being asked to develop expertise. The Sarbanes-Oxley Act's requirements relating to ethics have resulted in stock exchange listing rules mandating all listed companies to initiate and maintain codes of conduct and ethics. Internal auditors are becoming more involved in ethics, as the literature of the internal auditing profession states that internal auditors should be advocates of a strong ethical culture. Specifically, International Standard for the Professional Practice of Internal Auditing No. 2130 states, in part,"The internal audit activity should assess and make appropriate recommendations for improving the governance process in its accomplishment of the following objectives: Promoting appropriate ethics and values within the organization. . . ."
The...