Ethics Case

 Ethics Case Essay

With this mini case Mike Stephan is coping with very difficult scenario because he is new to the accounting organization and desires to impress the superior accountants on his involvement team. When auditing for EarthWear, he makes a very little mistake by simply spending too many hours taking a look at the wrong bank statements if he is certainly not supposed to check out a total of 6 several hours. Pressured by the senior within the audit, he could be caught among lying about his hours or telling the truth and going over finances on the audit, potentially causing the various other accountants on the team to look bad professionally. The first alternate that I have discovered about when ever addressing honest issues as being a staff auditor would be to speak with the older on the staff and tell him/her just what is going upon, but the elderly is the one telling him to " eat” his hours. Because the manager is also putting pressure on the senior to imagine the extra several hours never occurred, Mike needs to go directly to the spouse on the crew and let him know the issue. An additional alternative should be to listen to the senior and " consume time” so the audit doesn't go over finances and expense the business's reputation. Another alternative would be to record the to correct sum of hours spent on the audit. The pros of informing the partner about the situation would be that Mike implemented his duty as a CERTIFIED PUBLIC ACCOUNTANT to act expertly and ethically at all times. His actions can be appreciated by the partner for the team. A firm's most significant asset is usually it's standing and if outsiders knew the fact that firm was lying about the hours used on auditing then simply that would lead them to question what other things the firm could possibly be lying about. A pro for " eating hours” would be that Mike as well as the other diamond accountants get a good analysis by not going over the budget and the firm keeps the illusion of working effectively to the customer. For the next alternative, a professional would be that Mike adopted the code of values and gets recognized pertaining to his trustworthiness and remedied with more...