FIN301 week 2 assignment

.docx

School

University Of Arizona *

*We aren’t endorsed by this school

Course

301

Subject

Finance

Date

Feb 20, 2024

Type

docx

Pages

8

Uploaded by MasterMoonRam38

Report
The Case Study: Voicing Your Values Jasmine Gallagher University of Arizona Global Campus FIN 301: Ethics for the Finance Professional Instructor: Susan Gould January 22, 2023
Introduction There are various ethical issues that arise in the financial industry. This particular ethical issue is about a trader named Pat who is under the influence and the decision to raise the issue further or not is in question. Pat is a very successful trader who has earned the firm a large sum of revenue and is respected by senior management. This could pose as it could affect the outcome of whether or not the issue would be taken seriously or not. This paper aims to look at how we can voice our values, define the primary ethical dilemma, how diversity plays a role, identify the affected parties and their rights, the consequences of my decision, defend the character and integrity, and alternative action. Voicing your values helps you learn how to effectively act on your values and ethical principles in the context of your professional responsibilities. Do you raise the issue further? Deciding whether to take this issue further is a question that should be taken into careful consideration. There are many factors that come into play when making this decision. Asking the questions on what kind of consequences could happen, or will this be beneficial for the majority is very important. “As professionals, auditors we have a responsibility to act in the public interest to provide objective opinions about the financial state of the organization—be free of conflicts of interest, not misrepresent facts, or subordinate professional judgment to others” (Trevino & Nelson, 2021). Pat’s judgment is likely impaired due to the drug use, which could cause potential conflict to the firm’s reputation and clients. The issue should be reported to the appropriate authority for further review.
How can you voice your values in this case? It is important to uphold our values and principles. When it comes to Pat’s behavior I could confront him and address my concerns about his well-being and the potential impacts it may have on him and the firm. If the matter is not resolved I can then go to Steve who is Pat’s managing director and highlight the potential risks to the firm's reputation and stability. If the issue continues, evidence will need to be gathered showing that Pat is actively using drugs and that it is impairing his work. Once the evidence is gathered I could go to HR and inform them of Pat’s behavior. My goal is to address the issue responsibly and ethically, ensuring the well-being of all involved and the long-term success of the firm. Define the primary ethical dilemma for the international organization or U.S. business or financial sector. The primary ethical dilemma is whether to report Pat’s drug use or not.. Pat’s use of cocaine could potentially have serious consequences for both him and the organization. “Employers bear a significant cost of substance abuse, including higher absenteeism rates and lower productivity” (United Nations Office on Drugs and Crime, and World Health Organization, 2018). This dilemma could be seen as an issue with following working standards and conditions, and protecting the interest of the company. The organization has a duty of care for the health, safety and well-being of its staff, contractors and the population in the areas in which it operates. The organization also has the responsibility towards the shareholders or the owners who have invested money and that they receive a fair return on the money they have invested.
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
  • Access to all documents
  • Unlimited textbook solutions
  • 24/7 expert homework help