1. Answer the following questions – i.e. (a) to (e) inclusive a. Outline any ethical issues involved in Mr Smith taking the trip. Relate any ethical issues directly to the facts of the business case. By undertaking the offer provided by Dogto Ltd, Mr. Smith will face ethical issues that could conflict with his professional accounting conduct. Mr. Smith must follow the code of ethics and legal obligations provided by the accounting bodies CPA and IESBA. Instances of ethical threats that can compromise Mr Smith’s objectivity which can be influenced by the given perks and conditions provided by Dogto Ltd, hence his principle of integrity may be breached. Another example is the extra trip to Disneyland for his family may manipulate his professional competence and due care as he could be districted in carrying out his responsibilities. However, if Mr Smith’s conduct is threatened by his self-interest the entity’s reputation can be damaged and hence the entity may lose investors and stakeholders. Another ethical issue that arise in the business case is theoretically the information given to Mr. Smith. It should be confidential and not be taken advantage of self-interest causing harm to the entity or customers and in addition not leak to other entities. b. Outline any benefits to Practical Solutions Pty Ltd of Mr Smith taking the trip. Mr Smith travelling to Los Angeles for Dogto Ltd is beneficial to Practical Solutions Pty Ltd in numerous factors. By taking the trip, a proper, confident analyse and first-hand encounter demonstration of the software as the expenses for the trip and the family to be bought along is paid without any expenses from the company. Therefore a professional quality service is provided without the stress.... ... middle of paper ... ...tect and not disclose confidential, sensitive information except when disclosure is authorized or legally authorized. 1. Any information pertaining to the operations of the entities 2. Any information in regards to employees or outside partner entities Fair Dealing The entity must respect fair business practices in areas where they operate and endeavor to deal fairly with the entity’s customers, suppliers and competitors. The entite should not take unfair advantage of anyone through manipulation, concealment, abuse of confidential information or unfair ethical practices breaking the code of conducts Code of Ethics for Financial Professionals Promote honest and ethical conduct and complying with all regulations provided in showing competency and duty of care for the entity. Whilst prohibiting any forms of bribes or fraudulent activates.
encourage honest and ethical conduct, including fair dealing and the ethical handling of conflicts of interest;
This issues study is aimed to explain the importance of ethical business practices which also include social responsibilities and will be compared to an example of an unethical business practice. It will explore the different unethical issues in business, the benefits of running an ethical business and this will be done with reference to a certain case study.
Spokane Industries has contracted Franklin Electronics for an 18 month product development contract. Franklin Electronics is new to using project management methodologies and has not been exposed to earned value management methodologies. Even though Franklin and Spokane have worked together in the past, they have mainly used fixed-price contracts with little to no stipulations. For this project, Spokane Industries is requiring Franklin Electronics to use formalized project management methodologies, earned value cost schedules, and schedules for reports and meetings. Since Franklin Electronics had no experience with earned value management, the cost accounting group was trained in the methodology in order to bid for the project.
In conclusion following policies, regulations, and laws in organizations are the best ways to ensure that your organization has a safe working atmosphere for all of its employees. Also following these policies, regulations, and laws provides your organization with a guideline to adhere to so that your organization can achieve information security and it will ensure that data integrity, availability, and confidentiality of an organization's information system are always on par and working
We will maintain confidential information. Information should only be discussed and shared on a need-to-know business basis, even with other representatives of the organization. Extra care should be taken when communicating with outsiders.
Most organisations begin the method of establishing organisational ethical projects by introducing codes of conducts. It helps to generate public trust and improve
close emphasis on the provisions and that their organization is following these standards of ethical
Business ethics is a diverse field that cannot be defined with a single definition. This area addresses numerous issues, problems, and dilemmas within the management of businesses. Does this through numerous perspectives and methods. Of course, in order to present the complexities of business ethics, we must explore the types of issues that business professionals are continuously confronted with. To understand one must
...eputation of honesty, quality, and integrity. It is also each employee’s responsibility to report to the company any situation where the standards or the laws are being violated.
Bribery is offering, providing or receiving something of value – including cash, gifts, hospitality or entertainment – as an inducement or reward for something improper. Usually, but not always, it’s to obtain or retain business or some other illegitimate advantage.As per any company's policies, Mr Smith is required to decline gifts, financial benefits or other benefits from a supplier for performing official duties. Furthermore, Anita Loo's offer can be perceived as a form of bribery, and by Mr Smith accepting the trip, it may pose as a not only a violation of Practical Solution Pty Ltd's code of conduct, more precisely their fair treatment and equal opportunites policy, but it's also consequently breaking the law concerning business practices.
Although small businesses do not make a lot of major deals with large investors, most small businesses create profit revenue greater than large corporations. Small business creators are very brave considering only ten percent of small businesses survive. Unfortunately, some communities do not support local small businesses; they only support the large brand name and force small businesses to die out. Since small businesses will not have a name brand known around the world, many people from communities will not support them because they are not known on a national scale. “This, in turn will affect the local economy and drive capital out of their local economy. On average, for every one hundred dollars spent in an economy, if spent on a
...y with their associates regarding wages, benefits and other conditions of employment. The company also provides equal opportunity for all associates, with no tolerance for discrimination. Moreover, all the associates comply with all the applicable laws, regulations and other employment standards. The company requires their partners, suppliers, contractors, and vendors to support these polices through adherence to our Supplier Code of Conduct.
Ethical business practices include assuring that the highest legal and moral standards are observed in your relationships with the people in your business community. This includes the most important person in your business, your customer. Short term profit at the cost of losing a customer is long term death for your business.
...mmunity. In addition, businesses should not play by their own rules because they would put rules to their own advantage and ignore consumer’s rights. There is no doubt that businesses want to motivate themselves to maximize profits; however, that should not be acceptable it the consumers livelihood is at stake. Businesses and organizations influence the community at large therefore they should be responsible for their community and indeed implement ethical behavior.
company can ensure that its code of ethics is both followed and enforced ? " .