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Ethics - Case Study Example

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A professional accountant has to be honest and should ensure accurate figures are recorded. Maryam has an obligation of ensuring that…
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Ethics Case
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Download file to see previous pages ethics of the professional standards which permits her to prevent bias, undue influence and conflict of interests of others to override business judgments or professionals.
The stakeholders that will be affected by the unethical decision which may arise following the request made by Mr. Rashid, the managing director, includes the customers, the investors, the business partners and shareholders. The stakeholders deserve to be told the truth pertaining to the performance of the business (Amat & Gowthorpe, 2013). This can only be done if the correct, honest and accurate figures are recorded.
Maryam Mohammed should refer the managing director to relevant regulations and laws that are against such an action. She should tell Mr. Rashid that the action is against the code of ethics in the accountant profession (Amat & Gowthorpe, 2013). She has a professional obligation of ensuring that honesty and accuracy is done and she should not be involved in actions that discredit her profession.
Maryam should be able to report the unethical issue to the company’s audit and financial committee or her supervisor at the place of work. A professional accountant has an obligation of preventing undue influence, conflict of interest as well as bias of others to override business judgment or profession (Amat & Gowthorpe, 2013). She should do follow up to ensure that the Managing director is punished.
Ethics can be defined as the discipline that deals with what is bad or good and with moral obligations and duty. Accounting is the process that involves describing the business processes in numbers. The bookkeeping numbers of a company’s accounting records should be accurate and honest in order to be considered ethical. Ethical dilemmas in accounting entail a supervisor directing a subordinate to interfere with the actual financial figures. Accuracy and honesty are the ethical issues in accountings. Accountants as well as bookkeepers have an obligation of ensuring information is ...Download file to see next pagesRead More
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