In Learning from Experience: Anne Mulcahy,Chairman and Former CEO of Xerox,Commits to Business Ethics: Xerox fired CEO Richard Thoman,who was charged with,but not convicted of,accounting fraud,and promoted Mulcahy to chief operating officer (COO).

Accounting Fraud

Deliberate manipulation or falsification of financial records and statements to create a false appearance of a company's financial health.

Chief Operating Officer

A senior executive tasked with overseeing the day-to-day administrative and operational functions of a company.

Business Ethics

The principles and standards that guide behavior in the world of business, ensuring fairness, transparency, and integrity in dealings.