CACN011: FINANCIAL ACCOUNTING IA-JUNE 2022 Question 3 [15 marks | 23 minutes] Anita Sukari was just hired as the assistant treasurer of Sofiatown Stores. The company is a speciality chain store with nine retail stores concentrated in one metropolitan area. Her primary responsibility is to maintain the company's high credit rating by paying all bills when due and taking advantage of all settlement discounts. The payment of all invoices is centralised in one of the departments Anita will manage. Chris Dadiani, the former assistant treasurer who has been promoted to treasurer, is training Anita in her new duties. He instructs Anita that she is to continue the practice of preparing all bank transfers "net of discount on the accounting system and dating the bank transfers on the last day of the discount period. "Buf", Chris continues, "we always hold the bank transfers at least 4 days beyond the discount period before releasing the payment from the systems. That way, we get another 4 days of interest on our money. Most of our creditors need our business and don't complain. And, if they scream about our missing the discount period, we blame it on the system. We have only lost one discount out of every hundred we take that way. I think everybody does it. By the way, welcome to our team!" You are required to: a. document the ethical considerations in this case? [3 marks] b. Identify the stakeholders that are harmed or benefitted in this situation? [2.5 marks] c. Suggest options available to Anita and whether she should continue the practice started by Chris. [9.5 marks]