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Question 3 Anita is an accountant in one of the public listed companies. She is also a member of Accounting Professional Body. The financial controller
Question 3 Anita is an accountant in one of the public listed companies. She is also a member of Accounting Professional Body. The financial controller in the company that she is working with has asked her to omit or leave out certain financial figures from a balance sheet that may paint the business in a bad light to the public and investors. She is assured by her boss that the omission may not seem like a breach of accounting ethics because it does not involve direct manipulation of numbers or records. a. Identify ethical dilemmas facing by Anita. b. As an accountant, Anita has a fiduciary duty to produce reliable financial statements to the public. Explain the consequences if Anita follows her boss demand. C. Discuss blind loyalty and relate to the case above. d. As a qualified professional accountant, Anita realizes that she has a duty to uphold the fundamental principles set by the profession and this may go against the financial controller's instruction. Explain any three (3) fundamental principles as prescribed in the International Federation of Accountants (IFAC) Code of Ethics
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