Lowe's Inc. Essay

1186 words - 5 pages

Lowe's Inc is a corporation with subsidiaries, whose primary business is home improvement retailer in the United States and Canada (Lowes, Inc. 2009.) The company provides a variety of products for the "do-it-yourself", consumer of durables, and building contractor businesses. Lowe's originally formed in 1921 as a hardware store in the town of North Wilkesboro, North Carolina, by L. S. Lowe. After World War II, the implementation of affordable home purchase financing, by the government, contributed to an increase to subdivision development, in new home construction and made the hardware business profitable. Lowe's stores were located near railway stations, enabling the retailer to capitalize on the direct freight service method of delivering supplies to builders (Lowe's, 2009). The company incorporated in 1952 as Lowe's, Inc. Lowe's, Inc., is listed in Fortune 500 among America's top ranking businesses and is the second-largest home improvement retailer in the United States (trailing Home Depot Inc.), holding approximately six percent of the $140 billion home improvement market (Lowe's Money and Finance 2009). The purpose of this paper is to describe and assess the role of ethics and compliance of Lowe's financial environment and to identify the process the organization uses to comply with the Security and Exchange Commission. Further, the paper provides an evaluation of Lowe's financial performance over the past two years.Lowe's has a very well built sense of business and financial ethics. The company manages more than 1675 stores in the United States. Lowe's has a very thorough code of ethics listed on their website for employees and customers to see and also found on LOWESNET, the company's intranet website. Lowe's code of ethics addresses every area of the way the business operates, not only the financial information, but employee, management and stakeholder relations. The Lowe's code of ethics requires every employee to follow its' guidelines and Lowe's also expects the board of directors to adhere to the code as well. Lowe's expects employees to inform management of unethical circumstances that occurs. Lowe's values its standing in compliance with all government laws, rules, and regulations when it comes to the ethics of finances. The Lowe's code also includes reference to compliance with the laws against payments to government officials, whether that payment consists of gifts or cash. Lowe's devoted an entire section to the accuracy of all books and records and loyalty to the system of internal controls to financial reporting. "The integrity of financial reporting by public companies represents the foundation of the United States securities markets on which Lowe's common stock and other securities are traded" (Lowe's, 2005). The company's position on insider trading is as stringent as on other issues addressed in the code of ethics. The code of ethics specifically forbids activity that may cause disclosure of internal corporate information...

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