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Finance a la Shmoop! What does it mean to have fiduciary obligation? Alright well

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fiduciary refers to the responsible person, who has oversight, above a given

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financial transaction, or process. That is, it is the fiduciary obligation, of the

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head of a corporation's Audit Committee, to be certain that the

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accounting process is handled fairly, objectively, inclusively and thoroughly [boss overseeing worker]

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and there are a few other ly's in there, but well you get the gist. Doesn't it

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seem strange, that some companies just seem to get into the same kind of

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trouble again and again. Remember the BP oil spill, well it wasn't the first time

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they'd had, an accident. You know, if you can call that spill only an accident.

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What kind of oversight did they have? Any? Well some companies just have a [man carrying oil barrel

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corporate culture that's run by the notion, that well, whatever isn't caught

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as a crime, is legal. Lots of Wall Street stock brokerages came and went this

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way. Yah, remember the Wolf of Wall Street? Kind of like that. Well what is

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the obligation of a responsible party when faced with ethical dilemmas? Where

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does the obligation start and stop? Should fiduciaries be held to a higher

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personal standard than normal people? Yah, kind of the, you know, Harvey

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Weinstein effect there. Yes, No, maybe, alright. Right, all three times. [question ABCD chart]

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It's definitely yes, no, or maybe.

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