Accounting and Ethical Practices

727 Words Feb 3rd, 2018 3 Pages
This is because the Foreign Corrupt Practices Act makes American officials who are involved in the bribery illegal. Despite the fact that company is dealing with these challenges internally, it still must be reported. This will ensure that Barber is incompliance with these regulations through making the appropriate disclosures. ("Foreign Corrupt Practices Act," 2013)
Describe Barber's appropriate response if management and the board of directors fail to take appropriate remedial action. If management and the board of directors fail to take action, he should report this to regulators. These practices will have an impact on the long term economic viability of the firm going forward. When they are disclosed, it will prevent this kind of behavior from occurring in the future. ("Foreign Corrupt Practices Act," 2013)
B
Identify and discuss at least four ethical implications of those acts by Gilbert that were in violation of the AICPA Code of Professional Conduct. The case, is illustrating how failing to reveal the loan on the property is a violation of the AICPA Code of Professional Conduct. The most notable include: not acting in the interests of the public, utilizing integrity, maintaining objectivity / independence and due care. In this situation, Gilbert clearly violated the…