C1.41 LO 1.12 The unethical use of accounting information The collapse of HIH Insurance is well-known to many Australians. Subsequent to the collapse of the company in the early 2000s, it came to light that the company's reported financial success was built on a number of questionable accounting practices. Required 1. Search the internet for information about the HIH Insurance corporate collapse and summarise the unethical accounting practices utilised by HIH and its accountants. 2. Which of the principles set out in the Australian Accounting Professional and Ethical Standards Board's Code of Ethics for Professional Accountants did each of these actions contravene?