What should Maraya do?

Is there an ethical dilemma here? In your case response include the steps that you would go through in order to try to resolve this situation: Put yourself in Marayas shoes as Assistant Controller; list at least 3 actions that you would likely take. Lastly, what would you do if Lozinsky rebuffed your questions and there seemed to be no resolution?

Ethics Case After only six weeks on the job, Maraya Keynes, 29, was already beginning to wonder whether taking the Assistant Controller job at Edgars Corporation was a mistake. Little things that her new boss, George Lozinsky, the Corporate Controller and Chief Financial Officer had told her about her working environment had turned out to be exaggerated. For example, he had told her that she would be a key part of the management team, but she was never asked to attend meetings that included non-financial managers who were at her level. Lozinsky had shown her audited financial statements for the previous two years, but as she got into the financial statements for the year that they were now trying to close, she saw that there had been a significant reversal in the company's prospects during the year that had not been revealed to her before she took the job. Because the accounting department had been very short-handed until Maraya and several new clerks were hired, financial statement preparation was very behind schedule. Maraya knew based on her examinations of several major balance sheet accounts that there would be significant unfavorable year-end adjustments that would be made to the preliminary financial statements that Lozinsky would show to the bank. Lozinsky and Mr. Edgars (owner) had a major bank meeting in a few days where they would present more recent financial statements that would be the basis for the renewal of the company's bank financing that would expire in one month. Maraya had kept Lozinsky informed about all of the adjustments that she was finding, but he brushed her off lightly as if he wasn't concerned. The day before the bank meeting, she presented him with packets for the bank meeting that included, among other things, an analysis that the company routinely gave to the bank which showed that the company was in violation of two of its three major bank loan covenants. She pointed this out to him and he studied the sheet carefully for several minutes, then said to her, Don't worry, I'll take care of it." The next morning, Maraya noticed Lozinsky in his office, busily running reports off of the printer. As he inserted each report into the bank folders, he seemed to take out an existing report. Maraya logged onto the system and called up the reports that she had printed the previous day. There were several major changes to the balances that increased assets and net income. Investigating further she found that several of the major year-end adjustments had been reversed out (i.e. the journal entries had been effectively removed.) What should Maraya do? Is there an ethical dilemma here? In your case response include the steps that you would go through in order to try to resolve this situation: Put yourself in Maraya's shoes as Assistant Controller; list at least 3 actions that you would likely take. Lastly, what would you do if Lozinsky rebuffed your questions and there seemed to be no resolution