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Introduce to Ethical Principles

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Added on  2020-03-23

Introduce to Ethical Principles

   Added on 2020-03-23

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Ethical Principles 1ETHICAL PRINCIPLESBy Student’s Name:Course code + name:Professor’s name:University name:City, State:Date of Submission
Introduce to Ethical Principles_1
Ethical Principles 2Ethical principles comprise of a set of regulations that govern the general conduct of individuals both in general behavior or at the work place. This discussion will be centered on various circumstances which have been provided and an analysis can be done to determine whether ethical standards were violated or not. The types of scenarios that have been presented are anchored on the professional field of accounting.The first scenario describes an auditor of a firm who has been selected to be the treasurer of a firm. The treasurer does not execute the mandate upon an athletic club in his capacity as an auditor. This implies that the auditor is out to conceal information concerning the company accounts so that he can benefit from that venture. The ethical principle that was violated is the one which states that any employee should not be engaged in any other activities or forms of employment that are in conflict with their main duty. Another principle that Amy violates is that his company is treating a private institution preferentially. (Childress 2015, p. 334-345)In the second case, there are two institutions where one is an auditing firm. Apparently the auditing firm which is Gordon Accountants has discharged its duty of verifying the accounts of Simtec Limited within the appropriate time that was allocated. It is not clear whether there was an initial agreement by the firms to pay the dues in the stipulated timelines. If there was suchan agreement, then it would be unethical for Simtec Company to withhold the payment until Gordon Accountants submit their report. On the other hand it would be a gross violation for the audit firm to demand for payment before completing its duty (Gill 2013, p. 89-100). The ethical principle that guides this case is that all employees should always give ethical principles and the law the fidelity that they deserve against the individual gains that the companies wish to derive from such duties. Besides, there is another principle which reinforces the fact that the company
Introduce to Ethical Principles_2

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