Business/Professional Ethics Directors/Executives/Acct
8th Edition
ISBN: 9781337485913
Author: BROOKS
Publisher: Cengage
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How does an accounting professional's commitment to the firm, the profession, and to colleagues influence whether he/she will blow the whistle on financial wrongdoing? What other factors, related to organizational culture, could contribute to whether or not a professional decides to blow the whistle on a financial wrongdoing?
What the advisory officer do if he didn't success after following the steps or doing reconstruction for the company?
CEO compensation design is effective in controlling the behavior in their decision making. How a compensation package could possibly work in adjusting a CEO’s risk taking behavior (in investments) and in balancing long-term vs. short term interests of a company?
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- As a manager, how would you deal with resistance to change when you suspect employees’ fears of job loss are well foundedarrow_forwardWhich of the following would be best considered to be an agency conflict problem in the behavior of the following financial managers? pack to later. O A. Bill chooses to pursue a risky investment for the company's funds because his compensation will substantially rise if it succeeds. O B. Sue instructs her staff to skip safety inspections in one of the company's factories, knowing that it will likely fail the inspection and incur significant costs to fix. OC. Michael chooses to enhance his firm's reputation at some cost to its shareholders by sponsoring a team of athletes for the Olympics. O D. James ignores an opportunity for his company to invest in a new drug to fight Alzheimer's disease, judging the drug's chances of succeeding as low. stv MacBook Air DII DD 888 F9 20 F7 F8 F6 F5 F4 esc F2 F3 F1 &arrow_forwardhow have the last decade of scandals affected the accounting profession? What about the public's perception of the profession?arrow_forward
- Controversy tends to surround the topic of whistleblowers. For example, should they be considered heroes or traitors? Many pro-whistleblowing policies have been enacted by the federal government to allow these individuals to reap significant monetary rewards for coming forward and giving information about behaviors and actions such as corporate fraud and unethical deeds. Many corporate whistleblowers face negative consequences of their actions, such as reassignment, revenge, and hate crimes, and are seen as traitors (e.g., Edward Snowden and Gina Gray). Yet Sherron Watkins and Cynthia Cooper were celebrated as heroes. Look up the stories of Sherron Watkins and Cynthia Cooper. Why do you think that some whistleblowers are vilified and others made to be heroes?arrow_forwardWhy have there have been so many business scandals mentioned in the media over the past few years? Have companies simply gotten worse, or have people become more sophisticated in identifying improper activity? What is the role of the Accountant? Sarbanes-Oxley, for example, has placed much more responsibility on the CEO and corporate officers? Are there additional laws that should be considered to ensure these scandals do not continue to occur? Should non-executives be held liable for corporate wrongdoing? in 200 words, please.arrow_forwardHow do the concepts of cognitive dissonance and organizational/ethical dissonance relate to whether an accountant might choose to blow the whistle on corporate wrongdoing?arrow_forward
- 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?arrow_forward1. 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?arrow_forwardTo what degree do you think individuals have a responsibility to act ethically within a corrupt system? How would an individual act ethically in this context? Please answer thoroughly and in depth. What legal reforms would you recommend that would make lobbyists more likely to act ethically? Why would you recommend these reforms and how might you implement them? Please answer thoroughly and in depth.arrow_forward
- Discuss the implications of material errors on financial statements and the potential consequences for an organization. How can these errors affect the organization's reputation and stakeholders' trust?arrow_forward33) Which threat may occur when, because of a close relationship, a professional accountant becomes too sympathetic to the interests of others? a) Self-interest threats b) Advocacy threats c) Familiarity threats d) Self-review threatsarrow_forwardAfter dissolution caused by the illegal acts, fraud, corruption and etc. of the directors, trustees, officers, or employees, what will happen to the innocent stockholders and employees? Are they going to receive something from the company's assets since they are not involved to that act?arrow_forward
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