What’s Wevenue? Case Study Coopers & Lybrand was auditing Cal Micro at the time the latter company wrote off half of its accounts receivable. The move sparked an internal investigation and the Securities and Exchange Commission (SEC) sought to bar the two auditors working with Cal Micro from signing off on public company audits. On one hand, the SEC pointed to several weaknesses in the auditors’ performance of their jobs, while on the other the auditors claimed ignorance and even alleged a willful
Words: 1077 - Pages: 5
competitors, and providing access to investment and funding opportunities. Part B: Ethics According to Investopedia, a stakeholder is, “a party that has an interest in an enterprise or project” (Investopedia, n.d.). The stakeholder in the case study on ethical behavior is Ray Pon. Ray is considered to be a stakeholder because he has self-interests in regards to his job. He is asking his friend, Marcus Lim, to help him adjust the figures in order to save his job. Ray is risking his friend’s job in order
Words: 782 - Pages: 4
all the requirements to be a CMA. (Institute of Certified Managment Accountants, 2009, p. 2) To be eligible to take the CMA exam you much first become a member of the IMA and pay an entrance fee, $200 for regular members but only $75.00 for any students. (Institute of Certified Managment Accountants, 2009, p. 3) Once a member of IMA the Board of Regents will make sure that you have a Bachelors Degree from an accredited university, if the degree is not from an accredited university it could be accepted
Words: 1255 - Pages: 6
not violate the investors’ faith that the statements are accurate and reliable. Integrity requires that Rikey should have the moral courage (which he did) to withstand Baitz’s pressure, and not to subordinate judgment. Under the AICPA Code, the ethical issues are summarized in the principles of the Code, Articles I (Responsibilities), II (The
Words: 1002 - Pages: 5
Identify ethical issues that Ashley should discuss with the Finance Committee? Which IMA Ethical Standards would apply to Ashley? Discuss. * Credibility: The ED should record all expenses and provide all information when I asked. He cannot deny any information. Providing accurate and insightful information are the key function to ED role. 3. How should Ashley respond to the Finance Committee? Review the IMA Resolution of Ethical Conflict section of the IMA Statement of Ethical Professional
Words: 517 - Pages: 3
* Institute of Management Accountants Statement of Ethical Professional Practice For accountants that work in industry or management accounting roles, the Institute for Management Accountants requires that its constituents follow the IMA Statement of Ethical Professional Practice including Honesty, Fairness, Objectivity, and responsibility. It’s similar to the AIPCA Code of Professional Conduct, but the AIPCA Code of Professional Conduct emphasizes independence, integrity, and objectivity. And
Words: 499 - Pages: 2
Journal Analysis: "Ethical Dilemmas on Academic Dishonesty" Part I Academic dishonesty is a big part of higher education and all institutions make sure students know the seriousness of not cheating. Being honest in your academic endeavors has to begin in elementary school and through high school and beyond. At an early age, students become aware how important education is to their lives. The internet opens up a whole new chapter of keeping academia in an honest
Words: 801 - Pages: 4
Case 1: Conservative Recognition or Cookie Jar Reserves SUMMARY OF THE FACTS Parties Involved: Aunt Amelia – Founder of O’Brian Software, Nick’s aunt and inexperienced in accounting. Nick O’Brian – Junior Internal Auditor, recently college graduate, nephew of the Lee Marchetti – Chief Financial Officer of O’Brian Software. After recently graduating college two months prior, Nick O’Brian is hired as a Junior Internal Auditor for his Aunt Amelia’s company, O’Brian Software. O’Brian
Words: 1866 - Pages: 8
paying cash for salaries expenses incurred or recording the purchase of raw materials. The recording of transactions and preparation of financial statements are currently guided by Generally Accepted Accounting Principles (GAAP). GAAP consists of standards and rules that are the sources of accounting principles used in the recording of transactions and the preparation of financial statements. Generally these financial statements are for external stakeholders outside the organization: regulators,
Words: 4967 - Pages: 20
It also has ethic rulings on independent, integrity and objectivity which include many deletions and revisions. Section 200 is the general standards of accounting principles. Section 201 are the rules and their interpretations, they also have compliance with standards (202), Accounting principles (203) and ethic rulings on general and technical standards (291). Sections 300 are the responsibilities to the clients, which mainly states that a public practice shall not share any client information
Words: 487 - Pages: 2
