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2nd Exercise - Refer to Duska (chapter 5, Accounting Codes of Conduct) and be prepared to analyze an ethical dilemma in order to identify (1)
2nd Exercise - Refer to Duska (chapter 5, Accounting Codes of Conduct) and be prepared to analyze an ethical dilemma in order to identify (1) potential code violations and (2) how you would react in such a situation.
In Duska, proceed to page 99 and read the Exercise, Rusty and Dusty Slow Movers and in addition to the questions on page 100, answer the following questions:
- Does Art have any ethical basis for taking his decision? If so, please explain. If not, what AICPA code principles did he violate?
- Is Penny at risk of violating any principles? If so, which ones?
- ASSUME: Penny is a single-mother caring for an elderly and ill mom. They barely have enough money to make ends meet and Penny cannot afford to lose her job without losing everything including custody of her daughter. Penny is related to your mothers closest friend and has learned that you are big on ethics and shes come to you for advice. If any, what advice would you give her? Be specific and list any discrete actions you suggest. If you decide to not get involved, justify your position from a moral point of view identifying the ethical framework youd used to justify your position not to get involved.
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