Discuss the current state of business ethics in the twenty-first century.

The twenty-first century ushered in a new set of ethics scandals, suggesting many companies had not embraced the public's desire for higher ethical standards. The Sarbanes-Oxley Act stiffened penalties for corporate fraud and established an accounting oversight board. The Dodd-Frank Wall Street Reform and Consumer Protection Act were later passed to reform the financial system. The current trend is away from legally based ethical initiatives in organizations and toward cultural initiatives that make ethics a part of core organizational?values.