Accounting Ethics Question Essay

859 Words Jul 9th, 2012 4 Pages
Good Works, Bad Accounting?
Ethics Project Part II

Section 55- Article IV: Objectivity and Independence:A member should maintain objectivity and be free of conflicts of interest in discharging professional responsibilities. A member in public practice should be indpeending in fact and appearance when providing auditing and other attestation services. .01 Objectivity is a state of mind, a quality that lends value to a member’s services. It is a distinguishing feature of the profession. The principle of objectivity imposes the obligation to be impartial, intellectually honest, and free of conflicts of interest

2011
Dilshan Jayakody, Matthew Marzicola, Suzanne Duffy
Accounting BH201.01
4/19/2011

In this situation the stakeholders
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Specifically, Charly is playing with the idea of manipulating the financials in order to hoax Lyn into giving her quarterly donation. Charly has proposed taking money from the restricted funds by allocating the precipitously large administrative expenses to the childcare programs, which are provided for by Lyn’s donation. She reasons that overhead allocations are just estimates, so they don’t need to be accurate in the short-term. Also, she points out that this would be “legal” under Lyn’s contract of how she wishes the money to be spent. After the donation is made, Charly proposes that the numbers be changed back to normal as to avoid any further accounting dillemas.
The ethical conditions that exist are numerous. Merriam-Webster’s definition of Ethics are as follows: 1) The discipline dealing with what is good and bad and with moral duty and obligation 2) a: a set of moral pirnciples: a theory of system of moral values 3) b: the principles of conduct governing an individual or a group
Furthermore, most companies define in their Code of Conduct their corporate responsibility. UBS defines theirs as such, “UBS we will uncompromisingly treat our reputation as our most valuable asset and we will protect it fiercely. Our culture and reputation are ultimately defined bythe actions and decisions that each of us makes every day.”
Firstly, Jill’s decision direct affects the long-lerm viability and

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