Corporate Governance Executive Summary 2022

Corporate
Governance
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CORPORATE governance 1
Executive Summary
Ethics are an important factor of every business that makes a business different from others. The
objective of this report is to develop an understanding of different aspects of business ethics. The
pieces of this work studied the behavior of two of the characters of a given case study by using
different ethical theories which form Part A of the report. Secondly, AAA decision-making
model has been discussed in addition to the application of the same for Goodrich. Lastly, APES
110 code of conduct has been discussed. The principles, threats, and safeguards related to the
position of Arnold have been assessed.

CORPORATE governance 2
Contents
Executive Summary.........................................................................................................................1
Introduction......................................................................................................................................3
Part A: Application of Various ethical theories...............................................................................3
1. Theory of Egoism and behavior of Goodrich.......................................................................3
2. Theory of utilitarian and behavior of Goodrich....................................................................4
3. Theory of utilitarian and behavior of Arnold.......................................................................5
4. Theory of Deontology and behavior of Arnold....................................................................5
Part B: AAA decision-making Model and application....................................................................6
Part C: principles, threats, and safeguards under APES 110...........................................................8
Conclusion.....................................................................................................................................11
References......................................................................................................................................13

CORPORATE governance 3
Introduction
Ethics are common for business and apply to every entity irrespective of the size and
nature of the same. People engaged in various businesses are required to adopt ethical principles
in their behavior and must perform the duties accordingly. Further various decision-making
models are there that help managers to make an ethical decision. APES 100 code of ethics
further contains a guide of ethics and prescribe how a professional accountant must work and
deal with different situations. The presented report will be divided into three parts whereas part
one will assess the behavior of different characters of a case study applying different ethical
theories. Part B will address the manner in which the AAA decision-making model can be
applied to the case and Part C will discuss the principles, threats, and safeguards applicable to
Arnold being a member of CPA Australia. A conclusion will also be provided at the last of the
report that would précis the main outcomes of the report.
Part A: Application of Various ethical theories
1. Theory of Egoism and behavior of Goodrich
Theory of egoism is a normative theory (Caae.phil.cmu.edu, 2019). It praises a certain
type of motivation and states that one must look after own’s interest. The theory works on the
belief that everyone is responsible for his/her own happiness and others have no responsibility
with respect to the same (Sieber & Tolich, 2013). This is to state that the theory of egoism must
not be understood with self-centeredness and self-importance. It is rather a philosophical view
that individuals should always work for their own benefit (Philosophyterms.com, 2019). In other
words, this is to state that the theory of egoism demands a person to not to sacrifice his/her