Mr. Bader is leaving the accounting practice to become the Finance Director of a client company. The ethical dilemma he is most likely to face would be a. Objectivity b. Integrity c. Professional Behavior d. Confidentialit
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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?6. Which of the following Threats to The Fundamental Principles of professional ethics, that may occur as a result of the financial interests of a professional accountant in a client company. a. Advocacy threat b. Self-interest threat c. Self review threat d. Intimidation threatEconomics (a) Which would you choose as the priority for ethical behaviour in the accounting profession: “protect the public interest” or “protect the credibility of the profession?” Explain, providing an example. (b) Explain the affiliation between the fiduciary relationship and conflict of duties when a professional accountant provides a service to a client. Provide an example
- The IESBA Code of Ethics for Professional Accountants highlights a number of areas in which threats might arise to independence and objectivity. Required; i. Explain what is meant by an advocacy threat and give an example of a situation which may create an advocacy threat. il. State the category of threat that arises from an inappropriately close business relationship with a client and give two examples of close business relationships that would cause such a threat. 2. Explain the terms "accountancy', "stewardship' and "agency' and explain how they can be applied to the relationship between directors and shareholders.Refering to case study 2 Fortunesareus Ethical Scenario. How can these below question be addressed. 1. What are the readily identifiable ethical issues for your decision? 2. Who are the key parties who can influence, or will be affected by, your decision? 3. What fundamental ethical principles for accountants are most applicable and is there an apparent conflict between them? 4. What would you do?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?
- Professional behaviour refers to the obligation that all members of the professional bodies: a. ensure that they do not harm the reputation of the accounting profession. b. not allow their personal feelings or prejudices to influence their professional judgment. c. refrain from disclosing information to people outside of their workplace that is learned as a result of their employment. d. be straightforward and honest.How do you assess at what stage of moral development in Kohlberg’s model you reason at in making decisions? Do you believe your level of reasoning is consistent with what is expected of an accounting professional? How does the stage you indicate relate to the findings of research studies discussed in this chapter about moral reasoning in accounting?1. Confidential issues at work include: A. Reports, client matters, and employee information B. Anything your boss tells you not to share C. Both Reports, client matters, and employee information and Anything your boss tells you not to share D. None of these 2. The third level of ethics is checking if a behavior: A. Is fair B. Is legal C. Affects your conscience D. All of these E. None of these 3. Ethical behavior: A. Is reflected in your dependability B. Extends to how you deal with others C. Is reflected in how you conduct yourself D. All of these E. None of these
- 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.An individual's ethics is influenced by many factors. As a result, everyone's ethical reasoning differs. Companies and organizations create internal rules or codes of conducts to ensure consistent ethical behavior throughout the organization. The code of conduct outlines the expected employee behavior and potential consequences when violated. For accounting firms, the internal code of conduct is based on the expected professional conduct outlined by the American Institute of Certified Public Accountants (AICPA) Professional Code of Conduct. You decide to open an accounting firm that specializes in clients with global operations. Many accounting firms have created their professional code of conduct. Through research, locate at least 3 published codes of conduct. Then, write your firm's professional code of conduct that includes the following: How professionals in your organization approach culture and diversity issues Expectation for ethical behavior and procedures that should be…Objectivity refers to the obligation that all members of the professional bodies: a. be straightforward and honest. b. refrain from disclosing information to people outside of their workplace that is learned as a result of their employment. c. not allow their personal feelings or prejudices to influence their professional judgment. d. ensure that they do not harm the reputation of the accounting profession.