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ACC 510 WK 2 ETHICS_BRYSON_VICTOR - Victor Bryson Wk 2...

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Victor Bryson Wk 2 Ethics March 20, 2010 (a) Who will suffer the negative effects if you do not comply with Gena Schmitt’s instructions? Who will suffer if you do comply? First off, if Gena Schmitt’s instructions are not followed the loan will be considered defaulted. The company would definitely have to reduce its operations if loses such a loan. Also as stated the company may have to shut its doors. If you do comply you would be violating the Sarbanes Oxley Act of 2002, which if convicted can result in heavy fines and penalties. Committing fraud can result in not only lose of employment but jail time as well. The check is currently an outstanding check, which means the check has been issued and recorded however the funds have not cleared the bank. Since the funds are not clear that cannot be attributed to the cash account balance of the company. If the check is returned as a NSF check, where the funds are not available, the company will be in ever bigger trouble.
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