As legal considerations in the financial world are often changing, the managers need to be aware of current as well as pending legislation to stay up-to-date with compliance issues. In addition, consumers and executive boards are scrutinizing ethical considerations more rigorously. In this Assignment you will review legislation as well as examine ethical considerations to apply them to a scenario. The following course outcome is assessed in this Assignment: GEL- 7.02: Apply ethical reasoning to ethical issues within the field of study. Writing Assignment: Offshore Accounts and Tax Benefits Prior to the passing of the Tax Cuts and Jobs Act (2017) some of America's largest corporations were able to apply questionable, yet legal, schemes to book profits in offshore accounts to avoid (not evade) higher levels of tax expense. These tax savings were substantial, it is estimated multinational corporations had been able to avoid an estimated $90 billion in federal income taxes each year. Scenario: The Board of Directors, shareholders, and stakeholders are just now learning that the corporation employed offshore banking transactions to minimize tax burdens. Checklist: As the Chief Financial Officer (CFO) address the following items: Explain to what extent the corporation's shareholders might feel the corporation breached any measures of an entity of the highest ethical standards. Explain to what extent the corporation's Board of Directors might ever feel that you as CFO breached any measures of an entity of the highest ethical standards. Use at least two of the ethical viewpoints as presented in "ethical approaches" to provide the ethical reasoning you would use to address your company's offshore profits issue (also specify the approaches you use).