Abstract
Much debate has occurred as to whether or not moral responsibility should be ascribed to corporate entities. The present study advances the theory that moral responsibility is a self-imposed or attributable aspect of corporate operations which extends beyond the parameters established by law.
In this context, the corporation must consciously endeavor to discharge its moral responsibility to avoid, minimize, eliminate and compensate for the potential or actual harm which its operations cause. To achieve this objective, consideration is given to the establishment of a Moral Audit Committee, an internal monitoring mechanism, with a proposed generic structure. The corporate Mission Statement and Code of Ethics play a vital role as well in building an institutional environment which supports this self-appraisal process. With this system in place, the ambit of a Moral Audit is then examined. This study concludes with a case analysis, which partly depicts the Moral Audit process.
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Additional information
S. Andrew Ostapski is Assistant Professor of Business Law, University of Miami, School of Business Administration, Coral Gables, Florida. A.B., 1975 Oberlin College; J.D., 1978, Capital University Law School; LL.M. in International Law, 1986, University of Miami School of Law.
Camille N. Isaacs is a Foreign Service Officer at the Ministry of Foreign Affairs and Foreign Trade, Kingston, Jamaica. B.A., 1983, University of the West Indies; M.B.A., 1991, University of Miami, School of Business Administration.
The name of the corporation and other data have been altered to preserve the anonymity of the firm, but the essential factual basis has not been materially distorted.
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Ostapski, S.A., Isaacs, C.N. Corporate moral responsibility and the moral audit: Challenges for Refuse Relief Inc.. J Bus Ethics 11, 231–239 (1992). https://doi.org/10.1007/BF00871971
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DOI: https://doi.org/10.1007/BF00871971