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EthicsAs professionals, accountants have an obligation to themselves, their colleagues, their clients and their organisation to adhere to high standards of ethical conduct. In today's society ethics is growing rapidly in importance and gaining higher recognition of one of
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the important accounting issues. This may be largely due to the highly publicized Enron, HIH and OneTel collapses. These cases clearly highlight the need for ethical behaviour and is shown in the knowledge of ethics that the undergraduates are being forced to learn. The more publicised ethics is, the greater awareness of the problem, and the higher the chance is of getting rid of unethical behaviour.Question 1It is becoming increasingly evident that all members, registered graduates and affiliates need to be mindful of the everyday ethical issues that may arise when performing client services. The following are the ethical issues that appear in the case study.NINA#Receiving gifts. The main ethical issue is whether Nina should in fact take the bribe or not.#Due to John Sneaky's proposal to manipulate the financial statements, it has placed considerable pressure on Nina to misrepresent the financial statements by ignoring the fraudulent material.#There are external conflicts of interest with her employer, her client and he community obligations. Due to Nina's expensive lifestyle she has personal financial restraints that could play an influential role in her decision.#Using inside information and her position for personal gain. Nina is thought to be a competent employee such that she could use her responsibility for personal gains.#Nina has to consider whether she has an adequate degree of competence and training to exercise an informed judgment and provide professional due care. Nine has not yet acquired her CPA or any other degree of equivalent qualification, obtained little or no training and levels of supervision are minimal. This emphasises the need for her to seek proper professional guidance.#Having to obey unethical instructions from a higher superior. Nina has been placed by Tom to carry out a due diligence assessment, knowing that she has not got the proper training and expertise. Is Nina capable of presenting a professional judgment in this area and how will she tackle the problem of the unethical behaviour?JOHN SNEAKY#Proposing a payment to offset illegal activity. A most serious ethical issue.#Abuse of position to achieve personal gain. He holds a level of responsibility, which allows him the ability to have access to manipulate the financial reports.#Dishonest behaviour. John is lying to all of the stakeholders involved.#The manipulation of financial information and therefore deceiving users about the honesty of the reported data.#Separation of duties. The data shows a lack of controls protecting the reliability of the payroll system. This has made it easier for John to engage in the manipulation of data.#Conflict of interest. John Sneaky has an opportunity to benefit financially from his fraudulent behaviour, which is compromising the interests of all stakeholders involved.TOM MCDONALD#Fee problems. Overcharging the client is unethical and it seems he may have been doing this on more than one occasions.#Failure to maintain technical competence in the discharge of professional duties. He should not have placed Nina Wong on a due diligence role when he knew that she was inadequately trained for such a position.#Failure to provide adequate professional services. The firms responsibility is to perform at a professional level. Tom should be encouraging his workers to achieve levels of quality and there should be measures in place to make sure clients are not overcharged. There is a need for separation of duties. This may help to reduce the amount of unethical behaviour in the firm.#He fails to balance appropriately the level of responsibility and cost control while maintaining a fair working environment. It seems Tom may have reduced levels of training, support and supervision for his workers.Question .It is outlined in the case study that Nina has currently graduated from university with a degree in Accounting and is currently enrolled in her CPA program. This qualifies her as a registered graduate or affiliate such that she is bound by the standards of practice and professional conduct. This is outlined in Section A. Compliance; where it states that it is mandatory for her to comply with the Code of Professional Conduct. Any non-compliance, which will be apparent if she accepts the $10,000 bribe, can lead to disciplinary proceedings as provided in Article 7 of the Society's articles of Association and By-law 40 of the institute. Also in Section A.6 Resolution of Ethical Conflicts; Nina is required to terminate any conflict of interests that may occur. There is no evidence of Nina trying to resolve her personal conflicts with achieving financial gain on her attempts to avoid pressures from both her superior, Tom McDonald or her client, John Sneaky. Nina has also not pursued any further advice on the situation which is recommended under both Section A.6 and Section A.5 Assistance to members; which outlines a procedure to seek guidance when in doubt of what action to take from their divisional or state director. When considering the fundamental principles in Section B of the Code, Nina will be breaching the following policies;B.1 The Public Interest This section requires Nina to consider the best interests of her clients as long as it does not compromise her responsibility to the community and any legal requirement. If Nina participates in fraudulent behaviour she will be violating the levels of trust that she holds with the public in creating reliable documents. Not only is she jeopardizing her credibility and the professions respectability but she will be partaking in an illegal activity just to fill her client's requests. Thus it is clear that Nina will be breaching her duty to consider public interests.B. Integrity This subsection states that all members must be straightforward, honest and sincere in their approach to professional work. However, if Nina accepts John Sneaky's bribe, her behaviour will be nothing but dishonest. The fact that Nina's justification for carrying out the bribe consists of gaining financial wealth and to avoid conflict of interests with her co-workers, makes her intentions nothing but sincere.B Objectivity As mentioned before, Nina had external pressures placed upon her from her need for financial stability, her need to comply with her superior's wish for job allocation? Also to reduce conflict with her client which may escalate if she chooses to take the ethical alternative. These influences are blurring and need to take on an objective view of the situation, thus she would be breaching her objective requirement on accepting the bribe.B4 Professional Independence (Section F1) the accounting professional relies heavily on the perception of independence to sustain its credibility. Thus if Nina accepts the $10,000 bribe she will be breaching the requirement to present information that is free of any interest which is incompatible with objectivity. As mentioned under Section B, Nina would be compromising her objectivity on her client's reports to for her own circumstances.B6 Technical & Professional Standards (Section E) Nina's fraudulent behaviour conflicts with the technical and professional standards that are outlined in Section E of the Code. Her actions would lead to a breach in Statement APS1 of Conformity, By-Laws 40-4 that cover the discipline feature and By-Laws 601-604 on Professional Conduct. Nina's conduct would also infringe PP that encompasses the preparation of legal documents and would be ignoring the need to report John Sneaky's deceitful behaviour under regulation N6.B7 Competence and Due Care- Someone in Nina's position has a duty of care to provide and maintain professional knowledge and ability to ensure a competent level of performance is achieved. The duty of care is not only owed to Nina's clients and employer but also society itself. In Nina's case, she has been required to take on a due diligence assessment even though she lacks the level of competence required by this section. Hence she would be breaching this fundamental principle of the code. The importance of this section is also emphasised in section C4, which states the minimum level of competence, is what is specified in the Society's By-Laws and Professional Schedule/ Institute Regulations.B8 Ethical Behaviour- Under this section it states that all members must act in a manner that is consistent with the good reputation of the accounting profession. Nina would be acting completely unethically if she partakes in the deceitful behaviour requested of her.Question .Moral reasoning changes over time as their moral development matures. Kohlberg outlines this in his model of the stages of Cognitive and Moral Development. At each stage of the model a particular type of reasoning dominates. Individuals advance through the stages of moral reasoning at different rates of speed. The stages occur in an invariant sequence and are universal to all. If Nina chose not to accept the bribe she would be doing so under each stage for the following reasons.Level A- Pre Conventional LevelThis level gives rise to moral reasoning, which is extremely self-centered where the force behind decisions made is personal gain.Stage 1 Punishment and ObedienceThe right or wrong is determined by physical consequences of one's choice.Nina would choose not to accept the bribe so that she would avoid punishment that would occur if she were caught out. Such punishment could include loss of job and fines.Stage Individual Instrumental Purpose and ExchangeThe right action is to serve one's or others own needs and making fair deals in terms of concrete exchanges.Nina would choose not to accept the bribe so that she can seek equality with others.Level B- Conventional LevelThis level incorporates the notion of living within a society and adhering to social order.Stage Mutual Interpersonal Expectations, Relationships and Conformity.Behaviour is directed at pleasing or helping others and is approved of by them. It is the desire to please others, being concerned about other people's feelings, keeping loyalty and trust and being motivated to follow rules and expectations. Thus Nina would choose not to accept the bribe so that she can project an image of good behaviour to her colleagues.Stage 4 Social System and Conscience MaintenanceThis stage is directed towards authority. Doing ones duty to society and upholding the social order. Nina would choose not to accept the bribe so that she is abiding to authority set down before her and maintain a behaviour that meets the fixed rules of social order.Level C- Postconventional and Principled LevelThis level defines moral values and principles of behaviour. It moves to a more spiritual awareness of social independence and interdependence.Stage 5 Prior Rights and Social Contract or UtilityThere is a compliance with standards that have been socially determined. There is an emphasis on legally defined behaviour. Nina would choose not to accept the bribe so as to stay within legal reason and not to break contractual obligations. Thus she would avoid any law suits being brought against her.Stage 6 Universal Ethical Principals. This assumes compliance to universal ethical principles that all humanity should follow. Nina would not accept the bribe at this stage due to her own conscience and the effect that it would have on her mind in the future. Ie guilt. She would also not accept the bribe so that justice would not be violated.
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