Reference no: EM131715526

Question: Ethics at the Top. In response to the number of financial frauds that had been occurring in the United States, AIG made the following statement in their 2003 Annual Report and 10-K. In the statement, AIG sympathizes with stakeholders who were financially damaged by numerous financial frauds that had come to light in 2002. "The whole country is paying a price for the gross misdeeds of relatively few executives who shirked their responsibility to create value for all of their corporate constituencies - shareholders, customers and employers - and abused the system to create wealth for themselves and their close associates. It is unfortunate that the misbehavior of a few companies and their executives could have a negative impact on so many. The focus on integrity and building long-term value must start at the top if it is to permeate throughout an organization." Search the Internet to determine how well AIG has done in following its code of ethics and developing long-term value for its stakeholders from 2003 to 2010.