Accounting Ethics Question
Good Works, Bad Accounting?
Ethics Project Part II
Section 55- Article IV: Objectivity and Independence:A member should maintain objectivity and be free of conflicts of interest in discharging professional responsibilities. A member in public practice should be indpeending in fact and appearance when providing auditing and other attestation services. .01 Objectivity is a state of mind, a quality that lends value to a member’s services. It is a distinguishing feature of the profession. The principle of objectivity imposes the obligation to be impartial, intellectually honest, and free of conflicts of interest
2011
Dilshan Jayakody, Matthew Marzicola, Suzanne Duffy
Accounting BH201.01
4/19/2011
In this situation the stakeholders are the women receiving aid from the program. These women would be considered stakeholders because these are the individuals who face the most loss if donations cease to continue. Another group of stakeholders would be considered the employees of the organization, because all of their jobs are on the line if donations stop. Specifically, Jill Lassiter is the newly appointed executive director of the charity and it is only her second week. Further, she is a single mother and devising a solution through the organization is attractive to her. On that same note, Charlene “Charly” Pinero and the rest of the board of directors would be considered stakeholders. Charly is one of the initial three board members , and she has a vested interest in keeping the organization from going under. Donors would also be considered stakeholders, because if they are given the incorrect information, they could be donating to an unethical organization. Clearly the main donor stakeholder is Ms. Lyndelle Oakes, the largest donor to the organization, who will not make another donation without reviewing updated financial records as stated in the contract she has with Good Works.
The main issue is the fact that the organization doesn’t have enough funds in
Ethics Project Part II
Section 55- Article IV: Objectivity and Independence:A member should maintain objectivity and be free of conflicts of interest in discharging professional responsibilities. A member in public practice should be indpeending in fact and appearance when providing auditing and other attestation services. .01 Objectivity is a state of mind, a quality that lends value to a member’s services. It is a distinguishing feature of the profession. The principle of objectivity imposes the obligation to be impartial, intellectually honest, and free of conflicts of interest
2011
Dilshan Jayakody, Matthew Marzicola, Suzanne Duffy
Accounting BH201.01
4/19/2011
In this situation the stakeholders are the women receiving aid from the program. These women would be considered stakeholders because these are the individuals who face the most loss if donations cease to continue. Another group of stakeholders would be considered the employees of the organization, because all of their jobs are on the line if donations stop. Specifically, Jill Lassiter is the newly appointed executive director of the charity and it is only her second week. Further, she is a single mother and devising a solution through the organization is attractive to her. On that same note, Charlene “Charly” Pinero and the rest of the board of directors would be considered stakeholders. Charly is one of the initial three board members , and she has a vested interest in keeping the organization from going under. Donors would also be considered stakeholders, because if they are given the incorrect information, they could be donating to an unethical organization. Clearly the main donor stakeholder is Ms. Lyndelle Oakes, the largest donor to the organization, who will not make another donation without reviewing updated financial records as stated in the contract she has with Good Works.
The main issue is the fact that the organization doesn’t have enough funds in