The Managing Director, Berny, of Safer Swimming Pool Gates Pty. Ltd., is applying for a loan as they are experiencing cash flow problems.

Benji, the accountant of Safer Swimming Pool Gates Pty. Ltd., has realised that some of the assets in this years financial Statements have been overstated as Depreciation was not recorded.

Benji tells Berny that the financial statements need to be corrected before they are submitted to the bank. However, Berny, tells Benji that the bank would not approve the loan if the real financial position was known to them.

Berny also tells Benji that if anyone were to know about the financial statements not being correct that it would be Benjis fault if the business had to close down and everyone loses their job.

Required

Write a paragraph to identify 2 stakeholders or stakeholder groups impacted in this case and discuss how each group of stakeholder is impacted. Also, in your paragraph, you need to name 2 principles of APES Code of Ethics 110 that have been violated and analyse how each principal is violated in this case.