Financial Interpretation Question 2022

Running head: FINANCIAL INTERPRATATION
1
FINANCIAL INTERPRATATION

Running head: FINANCIAL INTERPRATATION
Contents
Question 1..................................................................................................................... 3
Question 2..................................................................................................................... 4
References..................................................................................................................... 6

Running head: FINANCIAL INTERPRATATION
Question 1
Ethics in a general sense has been characterized as the precise investigation of lead dependent on
good standards, intelligent decisions, and norms of good and bad direct. Like general morals,
moral conduct from an expert viewpoint likewise includes settling on decisions dependent on the
results of elective activities. Ethics is the framework that is required by the company to follow
and abide by with due diligence and care. It is bifurcated into two major theories namely the
theory of Utilitarianism and theory of deontology. Utilitarianism is a standardizing moral
hypothesis that places the locus of good and bad exclusively on the results (outcomes) of picking
one activity/strategy over different activities/arrangements. In that capacity, it moves past the
extent of one's own advantages and considers the interests of others. The theory of the ethical
utilitarianism is applied as utilitarianism holds the ethical choice that will produce the greatest
good for the number. As per the Deontology theory, it is the theory, in which the individual must
perform his duties, despite the results and the outcomes. In essence, fulfilling of one’s
obligations theory is ethical as no matter what it may harm the society and the individuals
associated with it. The deontology theory consists of the two major principles, such as principle
of Reversibility and principle of Universality. Under the second principle it is stated that the one
must always speak the truth as and when the individual comes across of it. Ethically, it is
required to make the accurate financial disclosures even if there are serious repercussions.
As per the Australian Corporation Act, 2001 accountant is liable to perform their duties in the
respectful manner by communicating the information to the other stakeholders as well. In the
present case in the position of the Rob, he is liable to disclose all the information he has come
across regarding the manipulation of the drug by the pharmaceutical industry for the drug called