ETIKA BISNIS DAN

PROFESI

Program Magister Akuntansi Terapan

(Maksi)
Fakultas Ekonomika dan Bisnis
Universitas Gadjah Mada

Bisnis dan Etika

Apa reaksi anda terhadap nama-nama

berikut ini: Enron, WorldCom, Lehman
Brothers, dll?
Hasil survey George Barna (2000): 6 dari 7
orang tidak dapat mempercayai pemimpin
Tipe Pemimpin

CEO
Pejabat Pemerintah
Pekarya Seni
Reporter dan Wartawan
Pemilik Usaha Kecil
Pemuka Agama
Guru

Kepercayaan yang Diperoleh

3%
3%
3%
5%
8%
11%
14%

The Enron Scandal

Background

Enron, the 7th largest U.S. company in 2001,

filed for bankruptcy in December 2001.
Enron became the sevent-largest company
in the US, with $101B in revenue and
20,000 employees.
Enron controlled a quarter of all gas
business, and soon expanded into myriadrelated products.

Mid 1980s Enrons business is entirely in the US,

focused on gas pipelines and power
By 2001 Enron is trading in hundreds of
commodities throughout the US, South America,
Europe, Asia, and Australia

Background (continued)

Enrons Board had 15 members,

including several outside directors.
The Board had 5 committees,
including an audit and compliance
committee and a compensation
committee
Arthur Andersen was Enrons external
auditor.

Unfolding of Events

From 1999, Enron created a number of SPVs

that resulted in the transfer of $25B debt.
Enron also diversified into many businesses.
Oct. 2001, Mr. Lay said in the news release
that the company was very confident in
our strong ernings outlook. In the mid of
Oct., Enron announces a huge third-quarter
loss of $618 million
Dec. 2001, Enron declared bankruptcy.

Enron investors and retirees were left with

worthless stock.
Enron was charged with securities fraud
(fraudulent manipulation of publicly reported
financial results, lying to SEC,)

The WorldCom Scandal

WorldComs Background

Owned a third of the US data cables

U.S. 2nd largest long-distance operator

Over 20 million customers

During the 1990s, WorldCom was

deeply involved in acquisitions

Completed several mega-deals in

the hottest industry

WorldComs Background

Awoke the sleeping giant

WorldCom led the telecom industry into profitability in the
90s.

Telecom industry faced low margins; Ebbers decided

growth=survival
Bernie Ebbers purchased over 60 firms in 2 nd half of the 90s.

WorldCom moved into Internet and data traffic

Handled 50% of US Internet traffic
Handled 50% of e-mails worldwide

Purchased MCI for $37 billion in 1997

Disallowed to purchase Sprint in 2000 because of antitrust
regulation.

1999 revenue growth halted; stock dropped

How the Fraud took place?

From 1998-2000, WorldCom reduced reserve

accounts held to cover liabilities of acquired
companies
WorldCom added $2.8 billion to the revenue line
from these reserves

Reserves didnt cut it; An e-mail was sent in

December 2000 to a division in Texas directing
misclassification of expenses.

Mr. Sullivan told key staff members to mark operating

costs as long-term investments.
To the tune of $3.85 billion.

How the Fraud took place?

Operating Expenses to Assets?

-Mr. Sullivans directions affected the income
statement:
Revenues
xxx (no change)
COGS
xxx (no change)
m Operating Expenses:
Fro

d
ve e
o
m
m
Re Inco ent
m
e
t
Sta
r om
F
d
ve e
o
m
m
Re Inco ent
m
e
t
Sta

Fees paid to lease other

companies phone networks:

xxx (Huge Decrease)

Computer expenses:

xxx (Huge Decrease)

NET INCOME

xxx (Huge Increase)

How the Fraud took place?

Operating Expenses to Assets?

-Mr. Sullivans directions affected the balance sheet:
Assets:
to Computer assets
d
e
Add SheetLeasing assets
nce

Bala

Liabilities
Stockholders Equity:
Earnings
d to Retained
e
d
d
t
A
ee
h
S
e
nc
Bala

xxx (Huge Increase)

xxx (Huge Increase)

xxx (no change)

xxx (Huge Increase)
=HAPPY INVESTORS

How the Fraud took place?

Operating Expenses into Assets?

WorldComs journal entry for $500 million in

computer expenses:
Computer Assets
Cash

500 million
500 million

The documents supporting the expenses were not

found!

How the Fraud took place?

Huge losses turned into

enormous profits.
$1.38 billion in net
income in 2001

Inflated the companys

value in its assets
Essentially, they were
buying paper clips and
recording them as
buildings

SIAPA YANG SALAH?

BAGAIMANA CARA MENGATASI
KESALAHAN ITU?
APAKAH ATURAN HUKUM YANG KETAT
SUDAH DAPAT MENGATASI HAL ITU?
DI MANA PERAN ETIKA DAN MORAL
TERHADAP KASUS INI?

Mengapa Tidak Beretika?

Dilema etis: pilihan tidak mengenakkan atau

tidak diinginkan yang terkait dengan prinsip
atau praktik moral (Maxwell, 2003)
Tiga alasan pilihan tidak etis:

Melakukan pilihan yang (paling) mudah dilakukan

(walaupun tidak benar).
Melakukan hal-hal yang harus dilakukan untuk
menang.
Melakukan pembenaran pilihan dengan relativisme
(standar masing-masing)

Banyak orang percaya bahwa beretika akan

membatasi pilihan, kesempatan, dan
kemampuan mereka untuk berhasil dalam
bisnis.

Tuntutan Saat Ini

Ada tuntutan yang meningkat dari sebagian

stakeholders akan adanya hubungan etis
dalam bisnis.
Transparansi dalam konteks etika, nilai, dan
tujuan sedang menjadi tren.
Terjadi transisi dari paradigma lama ke
paradigma baru (etika) tetapi banyak yang
belum tahu caranya.
Peperangan etika belum dimenangkan
karena dengan cara: mencari instruksi etika
dari luar, pengobatan kutu etika, dan
tergantung pada hukum.

Etika Adalah Masalah Pribadi!

Etika tidak pernah merupakan masalah

bisnis, sosial, atau politik. Etika selalu
merupakan masalah pribadi (integritas
pribadi) (Maxwell, 2003).
Hasil penelitian mengindikasikan b/w
kebanyakan orang tidak selalu
bertindak dengan integritas seperti
yang mereka tuntut dari orang lain.

Tujuan Etika

Apakah perilaku etis otomatis menjamin

keberhasilan? tentu saja tidak!
Apakah perilaku etis dapat membuka jalan
keberhasilan? pasti! Etika + Kompetensi
adalah faktor kemenangan
Perilaku etis dalam jangka pendek tampak
merugikan, ttp menopang sustainability
jangka panjang
Perilaku tidak etis dalam jangka pendek
tampak menguntungkan, ttp akan gagal
dalam jangka panjang
APAKAH KITA TAHU BAHWA KITA DAPAT
MELAKUKAN HAL-HAL YANG BENAR DAN
SEKALIGUS BERHASIL DALAM BISNIS?

Tujuan Organisasi Bisnis

Biasanya ada enam tujuan bisnis:

1) Profit
2) Customer satisfaction
3) Continued growth
4) Quality
5) Worker satisfaction
6) Market Share
These goals are composite and cannot
stand apart. Profit is a quantifiable and
tangible goal. No organization can pursue
any other goals on the face of mounting
losses.

FAKTA
PERUSAHAAN YANG BERTEKAD UNTUK
MELAKUKAN HAL-HAL BENAR,
MEMPUNYAI KOMITMEN TERTULIS
TERHADAP TANG-GUNGJAWAB SOSIAL,
DAN MENJALANINYA SECARA KONSISTEN,
TERBUKTI MERAIH KEUNTUNGAN LEBIH
BESAR DIBANDING-KAN PERUSAHAAN
YANG TIDAK MELAKUKANNYA

Apa Masalah Yang Kita Hadapi?

Bagaimana kita tahu apa yang benar?

Bagaimana kita menentukan arah dalam keadaan
tersulit yang penuh tekanan?
Dimanakah kita dapat menemukan standar untuk
membuat bisnis berkembang baik?
Dimanakah kita dapat menemukan standar untuk
meyakinkan b/w kita sudah melakukan yang
terbaik setiap saat?
Dua

hal penting etika: Standar yang

harus diikuti dan Kehendak untuk
melakukannya
KITA PERLU MEMAHAMI PRINSIP ETIKA
ATAU STANDAR MORAL