BOOST VOLTE Na N 053% 2:53 Question 2 Imagine you are working as an accountant for a small proprietary company and you are in charge of all accounting functions of this company. It is the company policy that, if the company achieve 15% profit growth, all employees get a 5% cash bonus. If the company meet this target, you are entitled to $12500 and the CEO gets $20,000 as bonus. No bonuses will be awarded if the company does not achieve the targeted profit growth. The CEO and you review the financial results before finalising the accounts and realise that the company's profit growth is 14% for the year. Due to the Covid-19 pandemic, some of the company's customers have been badly impacted and you are certain that for two of your major customers, the amount due cannot be recovered. The company's asset impairment is also much higher than usual. If you did not account for these impacts, the company could reach the bonus target. The CEO asks you to make the provision for doubtful receivables as usual and not to take the Covid-19 impact into account. The CEO is your immediate boss and has a good relationship with the board of directors. Required: 1 How do you think this situation should have been handled? Discuss the ethical dilemma presented by this case using the ethical decision-making framework (model) given below or another model that you know. (Maximum words 700) ( 14 Marks) IL What is the role of the board of directors in implementing good corporate governance to avoid such behaviour? (Maximum words 300) ( 6 Marks) Total 20 Marks An ethical decision making framework using Utilitarian and Rights Theories Identify the ethical issuels) Determine the affected parties and identify their rights. Determine the most important rights. Develop alternative courses of action, Determine the likely consequences of each proposed course of action. Assess possible consequences including an estimation of the greatest good for the greatest number Determine whether the rights framework would cause any action to be eliminated. Decide on an appropriate course of action