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.
