Table of Content
Table of Content 1
1. Introduction 2
1.1 Background 2
1.2 Purpose 2
1.3 Method 2
1 The Role and Responsibility (CFO-Accounting Major) 4
2.4 CFO’s Dilemma and Responsibility 4
2.5 CFO as a Whistleblower 4
2 Unethical Conduct and Analyses 6
3.6 Misrepresent Product 6
3.7 Bribe Officials of Foreign Government 6
3.8 Mislead Audit Committee 6
3.9 Ignore Important Internal Keys 7
3 Conclusion 9
Reference List 10
Ethical Issues in Accounting
By: Ernest ...view middle of the document...
Consequences view morally right act is one that produce good outcome, or the end justifies the mean. One of the theories of consequence is utilitarianism. Utilitarianism is about greatest good for the greatest number. In utilitarianism, if the benefit exceeds the cost, then it is ethical. Studies by Nathaniel Leff (1964) and Samuel Huntington (1968) conclude that bribery can reduce delay and provide incentive for official. If we apply this principle, then small payment to speed up progress will be an ethical thing to do because we can gain more benefit than if we do otherwise.
Consistency is about .Deontological, small payment to speed up progress will always be unethical, regardless of any potential good that might arise from it.
3.3 Character & Culture
3. Second Decision: Medium payment to seek contract approval
4.7 Character & Culture
4. Third Decision: Ignore Internal Control
5.11 Character & Culture
5. CFO Role and Responsibilities
5.1 CFO Roles
CFO or Chief Financial Officer is an executive who direct all financial aspects of the business which consist of keeping accounting records, designing accounting systems and procedures, financial forecasting, and using funds. However, in recent years, this role is expanded into more proactive role in company future, participating in decision making (Fabozi et al, 2008, p6). Because of this role expansion, CFO then has to consider compliance, risk management and performance evaluation in making decision, which often created conflict with the best choice of action company can make. Some...