Ethical Decision Making: Corporate Governance, Accounting, and Finance Ardina Febrianti Alwan Azhary Aby Bintang Fadhilah Faza Asghar El Hakim Ghasani Amirus Kelompok 4:
Volkswagen’s Diesel Fraud All of the fraud/corruption The evidence of a complete failure in corporate governance structure
Explain the role of accountants and other professional as “gatekeepers.” Describe how conflict of interest can arise for business professionals. Outline the requirements of the Sarbanes-Oxley Act. Describe the COSO framework. Define the “control environment” and the means by which ethics and culture can impact that environment. Discuss and explain the legal obligations of a member of a board of directors. Chapter Objectives
Professional Duties and Conflicts of Interest Accounting is one of several professions that serve very important functions within the economic system itself. Remember that even Milton Friedman, a staunch defender of free market economics, believes that markets can function only when certain conditions are met It is universally recognized that markets must function within the law, they must assume full information, and they must be free from fraud and deception Insuring that these conditions are met is an important internal function for market – based economic system
Professional as “Gatekeepers” Such professions can be thought of as “gatekeepers” or “watchdogs” in that their role is to ensure that those who enter into the market place are playing by rules and conforming to the very conditions that ensure the market functions as it is supposed to fuction These roles offer us a source of rules from which we can determine universal values to apply under a deontological and katian analysis We accept responsibilities based on our roles. Therefore, in striving to define those rules that we should apply, we see that the ethical obligations of accountants originate in part form their roles as accountants
Conflicts of Interest In Public CPA Activity
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- Fall '19