Case 2-8 Juggyfroot This case shows the auditors resisting pressure from the client to change to a non justified accounting treatment. The stakeholders of this case are the bank, the shareholders, creditors, suppliers, employees, and officers of the firm. The stakeholders expect non-misleading financial statements. Deziloo has an obligation to perform the audit with integrity, objectivity, and due professional care. From a rights perspective, it is not right to mislead the investors by making
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Ethics on Maintaining Two Separate Books Paul Edwin V. Lazaro Ateneo Graduate School of Business Abstract Business maintains separate books for the results of its operations for different purposes. Internal reports are used for management decisions and tax reports for taxing purposes. Reason why separate reports are maintained for the same set of information covered depends on the intention of the preparer and the one that uses it. Transparency of reporting, high ethical
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In the year 2002 Martha Stewart was tried for securities fraud and obstructing justice. Martha had used her awareness of inside information that dealt with a review being made by the FDA on an anti-colon cancer drug Erbitux created by a company called ImClone to which Martha owned stock in. There are many ethical dilemmas Martha Stewart ignored at the time she used the inside information for her own financial benefits, or in this case her protection. She ignored any morals to practice fair trade
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Tyco International, destroyed his company through his arrogance, greed, lack of ethics, and overall disdain for his company. An effective leader puts his own personal interests aside and works for the greater success of his company for their employees and shareholders. Tyco International experienced a boom in profits in the 1990’s through continuous acquisitions of smaller companies and financial manipulation of accounting records. This resulted in rampant greed and corruption, with managers who shared
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ACCOUNTING 640 SPRING 2012 CLASS PAPER ETHICS TOPIC: The Virginia General Assembly is considering legislation to allow individuals to create asset protection trusts. The legislation involves an irrevocable trust to protect the settlor’s assets from the settlor’s creditors. The concept of this trust is called asset protection trusts. The settlor (creator of the trust) would create an irrevocable trust whereby the settlor would b e a beneficiary of the trust (trust assets benefit them still)
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Statement of Values and Code of Ethics for Nonprofit and Philanthropic Organizations This document was drafted by a special taskforce of the INDEPENDENT SECTOR Ethics and Accountability Committee, distributed to IS members for review over a four-month period from October 2003 through January 2004, and approved by the IS Board of Directors on January 29, 2004. It constitutes the Statement of Values and Code of Ethics that IS will use for its own work. In addition, the Board of Directors of IS encourages
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successful business owner. 1(B) Based upon what you have read so far, how do you think the study of ethics might be different from other courses you have taken? How does that modify your approach to the course? My Answer: I believe that it is going to be different because we are learning about ethics and conduct where with other classes we learned about what to do in a business such as accounting and such. With this class we get the chance to learn how to act and treat others in a business way
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Ethical Concerns of Consumer Tracking Name SOC 120: Introduction to Ethics & Social Responsibility Instructor September 2014 Ethical Concerns of Consumer Tracking The practice of consumer tracking has become commonplace through various public avenues, but there are certain aspects of this practice that could be construed as an invasion of privacy. There are so many activities that can be monitored in today’s technologically driven society. Retail outlets and other
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discriminated against should report the incident to his or her manager or to human resources. Create a Culture of Open and Honest Communication At [Company Name] everyone should feel comfortable to speak his or her mind, particularly with respect to ethics concerns. Managers have a responsibility to create an open and supportive environment where employees feel comfortable raising such questions. We all benefit tremendously when employees exercise their power to prevent
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Business Ethics and Virtue Ethics Virtue ethics is “a broad term for theories that emphasize the role of character and virtue in moral philosophy rather than either doing one’s duty or acting in order to bring about good consequences” (Athanassoulis, 2010). Virtue ethics are certain principles, such as merit or loyalty in which we should make every effort to consent to the full development in our organizations; these ideals are a reflection of what we ultimately have the potential to become
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