sements from the firm. According to the understanding and acceptance of the basic principles and concepts of ethical conduct, what should Justine do upon discovering this evidence? a. Notify the marketing managers involved.
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- Mr. Coco Knot is a company accountant and is confused about the ethical conduct that should be followed by him as he is facing a particular dilemma. Please explain to him what he should do and give justifications. ‘My company turns a blind eye to fiddling expenses’ - Coco Knot THE DILEMMA I am a company accountant and I feel uncomfortable that my company seems to turn a blind eye to some employees fiddling expenses. I raised it initially with the employees and then with the financial director, who said that she would rather not confront the employees as they are high-performing sales executives.Do you think there are any circumstances when you should go outside the company to report financial wrongdoing? If so, to what person/organization would you go? Why? If not, why would you not take the information outside the company?Carrie is known as an accountant by her circle of friends and in her community. Carrie posts a TikTok bragging about illegally downloading software that she feels is overpriced. Which, if any, ethical standards did Carri violate? O Competence - failure to perform duties in accordance with laws and regulations. O Confidentiality - failure to inform all parties of confidential information. O Confidentiality - failure to refrain from using information for an unethical advantage. O Competence - failure to maintain an appropriate level of expertise Credibility - failure to provide all relevant information that could influence a decision. Integrity - failure to abstain from activities that might discredit the profession.
- In his research into the components of ethical decision making, Rest raised the following issue: Assuming someone possesses sound moral reasoning skills, “Why would they ever chose the moral alternative, especially if it involves sacrificing some personal value or suffering some hardship? What motivates the selection of moral values over other values?” How does Rest’s model deal with such a question? How would you answer it from the point of view of an accounting professional?Mr. Asim is an Accounts Officer in Atlas Industries LLC which is a popular Bicycle manufacturing company in Muscat. As an accounts officer Mr. Asim should follow all the fundamental principles of ethics related to his profession. Which one of the following acts of Mr. Asim may leads to intimidation threat? O a. He has financial or other interests. O b. He is too sympathetic to the interests of others. OC. He promotes the position of his employer. O d. He is unduly influenced by others.John works as a manager in the Aster office of an international public accounting firm. His father has just taken a position as a purchasing agent for one of the public accounting firm’s Aster clients. Has Mr. John’s independence been impaired with respect to this audit client? Has the public accounting firm’s independence been impaired if John does not work on the audit?
- Hannah Montana is interviewing with public accounting firms to become an auditor. Hannah does not believe that fraud is a "big deal" in client organizations and argues that most individuals in management of companies are "honest people". She believes that auditors are becoming too cynical. Describe your response to Hannah's attitude and discuss the major types of fraud that occur in companies.1. Do you think that financial managers should be held to a higher standard of ethical behavior? 2. In the video on ethics and my article from the Conway Daily Sun, there were several examples of unethical behavior, Please discuss a real life example of unethical behavior either from your personal experience or from the news. What do you think can be done to change the unethical behavior, or do you think it can't be stopped?Which of the following statements is false regarding the ethical obligations of professional accountants? Multiple choice question. they must seek to maximize the owners' profits. they must continually upgrade their skills in order to be competent their obligations are outlined in a code of ethics. they must treat sensitive information confidentially Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
- Although top management’s attitude toward ethics sets the tone for business practice, sometimes it is the role of lower-level managers to uphold a firm’s ethical standards. John, an operations-level manager, discovers that the company is illegally dumping toxic materials and is in violation of environmental regulations. John’s immediate supervisor is involved in the dumping. What action should John take?Assume that a corporate officer or other executive asks you, as the accountant for the company, to omit or leave out certain financial figures from the balance sheet that may paint the business in a bad light to the public and investors. Because the request does not involve a direct manipulation of numbers or records, would you agree to go along with the request? What ethical considerations exist for you in deciding on a course of action?It has been said that recent graduates from a business school majoring in accounting and just entering the profession are especially vulnerable to ethical missteps because they are often naive and may not see the ethical aspects of situations they confront. Explain the various dimensions of such alleged ethical challenges in the workplace.