For professional accountants CIMA CODE OF ETHICS October 2010 CIMA CODE OF ETHICS FOR PROFESSIONAL ACCOUNTANTS CIMA PREFACE As Chartered Management Accountants CIMA members (and registered students) throughout the world have a duty to observe the highest standards of conduct and integrity‚ and to uphold the good standing and reputation of the profession. They must also refrain from any conduct which might discredit the profession. Members and registered students must have regard to these
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Analyse the problem of accounting fraud in a listed company and evaluate possible solutions In 2001‚ Enron Corporation went into bankruptcy due to the disclosure of false information in its financial statements. Similarly‚ when Lehman Brothers collapsed there was no evidence that it had ever publicly disclosed certain detrimental accounting information. Cases of accounting fraud such as these have become increasingly serious. Accounting fraud can result in creditors and stockholders losing confidence
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International Federation of Accountants 545 Fifth Avenue‚ 14th Floor New York‚ New York 10017 USA This publication was prepared by the International Federation of Accountants (IFAC). Its mission is to serve the public interest‚ strengthen the worldwide accountancy profession and contribute to the development of strong international economies by establishing and promoting adherence to high quality professional standards‚ furthering the international convergence of such standards and speaking out on public
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|Ethical Dilemma | | |Case Studies | | | | | |Professional Accountants in Public Practice
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Abstract The purpose of this assignment is regarding to accountants‚ a professional career‚ meant to be very important to corporation or public because it is the base that offers great support to management for planning‚ controlling as well as decision making process. As far as people is concerned‚ accountants as information keepers and produce financial reports to stakeholders face major ethical challenges such as misrepresenting or misstatements in financial statements etc. However‚ accountants
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International Federation of Accountants 545 Fifth Avenue‚ 14th Floor New York‚ New York 10017 USA This publication was prepared by the International Federation of Accountants (IFAC). Its mission is to serve the public interest‚ strengthen the worldwide accountancy profession and contribute to the development of strong international economies by establishing and promoting adherence to high quality professional standards‚ furthering the international convergence of such standards and speaking out on public
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Appendix 1 - Department of Accounting SWOT Analysis Department of Accounting Meeting Minutes 1:00PM – 3:30 PM February 28‚ 2007 Revised April 20‚ 2007 by AAC Otto Martinson led the department in a “SWOT” analysis that resulted in the following list of Strengths‚ Weaknesses‚ Opportunities‚ and Threats: Strengths • Dedicated Hard Working Faculty • High Quality Faculty in terms of teaching/research/practice • Wide range of faculty expertise • Relatively newly renovated Buildings • Mediated Classrooms
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Forensic Accounting in New Zealand: Exploring the gap between education and practice. Jennette Boys Auckland University of Technology‚ New Zealand Abstract ‘Accounting practice has always been concerned with fraud’ (Lehman & Okcabol‚ 2005) The global business environment is rapidly changing and this has resulted in evolutionary changes in the skills accountants need to meet the requirements of their clients so they can continue to add value to their businesses
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Chapter 1 P 23 Case study 1 1. For case scenario 1 What are the duties owed by Ming? Ming answers to Bing Ho‚ to the company‚ the stakeholders and the board of directors The duties that Ming takes as an employee are * Accountability * Objectivity * Integrity * Honesty/duty of care Is there any conflict of interest faced by Ming as an assistant accountant in Wholesalers Ltd? Ming V Bing Decide to go with Bing’s guide as instructed or record Bing’s fraudulent discrepancy
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QUESTION 1 1. Why might income tax expense on the income statement differ from actual income taxes paid to the government? Answer Error: Reference source not found a. Financial statement preparers can use an estimated tax rate. Error: Reference source not found b. The IRS requires deferral of most expenses. Error: Reference source not found c. There are timing differences to when income is recognized and there are items that may or may not be subject to taxation. Error: Reference source
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