Ch1 Problem 1-4 - internal controls in conformance with...

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Problem 1-4 1. Since the invoices represent bona fide liabilities of the company and the law provides that the costs should be recorded in the period they were acquired, Sarver did not act in an ethical manner. Plus, IMA Statement of Ethical Professional Practice states that all members should act according to four main principles one of which is Credibility. Credibility means disclosing” and disclosing “delays or deficiencies in information, timeliness, processing, or
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Unformatted text preview: internal controls in conformance with organization policy and/or applicable law . 2. The controllers actions cannot be justified by the fact he was pressured because IMA Statement of Ethical Professional Practice suggests refraining from engaging in any conduct that would prejudice carrying out duties ethically and abstaining from engaging in or supporting any activity that might discredit the profession....
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