Accounting

Accounting

Grade 12

Open Ended

Craig Mueller has been asked to work as the auditor for a company in which his wife owns stock. Is Craig maintaining a position of independence in this situation?

Chapter 29

Pages 845-848

Objectives

• Analyze the ethics in news

• Illustrate a business ethics program

• Judging ethical decisions

Video

https://www.icaew.com/insights/student-insights/my-60-seconds-ethics-and-the-future-of-the-profession

Open Ended

Use the library, newspaper, or Internet to find three recent examples of businesses involved in a historically significant compliance or regulatory issue or accused of engaging in unethical practices. For each example describe the company’s practices, any legal charges involved, whether the issue led to the formation of regulatory agencies or laws, and why you think the business chose this course of action

Multiple Choice

Why do some businesses follow unethical values?

• As there is no one to advice

• As they dont need to follow ethical values.

• To be successful easily

Open Ended

As the ethics officer for a national chain of coffeehouses, you must prepare an outline for a business ethics plan that covers the main issues you think are relevant to the company’s operations. Include outline headings for a code of ethics, enforcement measures, and how you will communicate the ethics plan to the company’s employees and managers.

Multiple Choice

Why ethical issues concern the operation of a business?

• It gives positive effect

• It gives value to a business

• Its gives a name to the business

• All of these

Open Ended

Sean McGee works as a graphics designer for a large design firm. In his job he utilizes dozens of expensive software programs that the company purchased for its employees to use to complete client projects. Because Sean often takes work home to meet deadlines, he copied all software programs and installed them on his personal home computer. In addition to the work he does for his employer, he takes freelance jobs for extra cash. What are the ethical issues? Who are the affected parties? Do you think Sean has made an ethically correct decision? Why or why not? What would you have done?

The ethical issue is whether it was appropriate for Sean to take company software home to use for company work as well as his own freelance assignments. The affected parties include Sean, the company, Sean’s freelance clients, and the software’s developer, manufacturer, and seller. consider whether Sean secured approval from his employer to take the software home. If not, would Sean feel uncomfortable telling his employer? The software company was cheated out of revenue because Sean did not buy the license to use the software for his at-home purposes.

Open Ended

Is the decision made ethical or not?

Open Ended

Plenary

Summarize the lesson