Choosing a Bid and Ethical Issues A Chartered Accountant of a manufacturing company is negotiating with three suppliers to install a new computer accounting system. Bids have been submitted by two registered suppliers (A & B) who have provided service in the past, and one from a newly formed computer firm. All the bids are similar, and the features of the new computer accounting software offered are very similar. The registered supplier, B, is willing to provide a free half-day workshop for staff members. The newly formed computer firm informs the accountant that their company will offer free training on the use of the accounting system in Singapore (including travel, accommodation, food, and all other expenses) to the accountant if the contract is awarded. The Board of directors approved the bid of the newly formed computer firm, given the justifications provided by the accountant. However, the accountant did not disclose the offer of free training to him in Singapore to the Board of directors.

Requirement;

As explained in the above case, the bid by the newly formed computer firm has now been accepted, and the accountant will enjoy the tour to Singapore. Discuss the ethical implications that may arise from the issue and its impacts on the accounting profession and society in general.