Accounting Ethical Questions - Case Study Example

Accuracy and honesty in accounting are financial and ethical issues that should be given attention by any professional accountant (Amat & Gowthorpe, 2013). Maryam Mohammed should be able to conduct herself as per the code of 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, include the customers, the investors, the business partners, and shareholders. The stakeholders deserve to be told the truth about 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 accounting profession (Amat & Gowthorpe, 2013). She has a professional obligation of ensuring that honesty and accuracy are 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 finance 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 the bias of others to override business judgment or profession (Amat & Gowthorpe, 2013). She should 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 duties. 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 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 ethical issues in accounting.