Ethics Case Study - Term Paper Example

ment of Ethical Professional Practice The piece of work looks at ethical reaction of accountants to issues that many may not see their ethical implications. The author directs accountants on the morality of their day-to-day decision makings in as they carry out organizational obligations. Using a simple case scenario of a company dilemma, the author manages to show that accountants have the opportunity and capacity to look deeper than the surface appearance of this intricate society (Longstaff, 2010).

The publication uses common theories of accountancy and ethics to give guidance to those in accountancy profession on how to go beyond mere technical advice of the profession to ensure services that are in the best interest of the society.1. Using the Statement of Ethical Professional Practice issued by the Institute of Management Accountants’ (IMA) as your guide, determine whether there is an ethical issue for you in this scenario.According to Statement of Ethical Professional Practice issued by the Institute of Management Accountants’ (IMA), all members of the accounting profession have the responsibility to mitigate conflicts of interest and communicate regularly with associates in the field to nullify apparent conflicts of interest (Longstaff, 2010).

The scenario presents an ethical issue. There is a conflict of interest between the right things the accountant should do against what the CEO wants him to do. Ethical dilemma sets in as the accountant has a hard time discerning and refraining from engaging in conducts that prejudice conducting his duties with the best of interest of all.2. What would you do if you were in this scenario?If I were in the position of the accountant in the case study, I would strive to detach myself from any activities that may discredit the profession of accountancy.

Even though my personal interests of retaining my job and paying mortgage are factors that would influence continuity of the company, I would not doctor fiscal records of the company to get a bank loan. I would advise the company CEO to look for more ethical ways to restore financial performance of the company.Work CitedLongstaff, S. (2010, June 21). An Ethical Dilemma for Accountants. New York, New York, USA.