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ABC Corp is an accounting firm. One of the ABC's major clients, Phontax, is about to go public. The CEO of Phontax has asked the

ABC Corp is an accounting firm. One of the ABC's major clients, Phontax, is about to go public. The CEO of Phontax has asked the CEO of ABC Corp to avoid posting some financial transactions until after the IPO, and in exchange has offered the CEO of ABC Corp, 10,000 shares of stock. The CEO of ABC Corp agrees. Have the CEOs of ABC Corp and Phontax acted ethically? Why or Why Not?

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