It often seems that many people believe corporate ethics problems are
limited to U.S. companies. Unfortunately, ethical problems are a
worldwide problem. Toshiba, which is base in Japan, just announced that
it had
overstated profits by ¥151.8 billion
($1.22 billion) over the past several years. The CEO of Toshiba, Hisao
Tanaka, and his predecessor Norio Sasaki, were both apparently aware of
the accounting fraud. It is believed that both men, along with the
board, will be replaced.