Ethics and Governance in Management

Running head: MANAGEMENT
Ethics and Governance
Name of the student:
Name of the university:
Author note:

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MANAGEMENT
Executive summary
Considering the good of others is the main motto of ethics. This is applicable in all of the
workplace conditions. The cases of arrogance and pride in terms of exertion of power and
authority is prevalent from the ancient times. With the advancement in civilisation and
technologies, there has been simultaneous development in the ideas and values. Aristotelian
concept is the most appropriate in terms of understanding the applicability of the virtue ethics
in the workplace issues. In this, the main focus is on measuring the impact of the decisions on
the clients. Utilitarianism or utility theory is applied for analysing the issues in treating the
customers of Freedom. Consciousness towards indulging in the misdeeds is an attempt
towards restoring loyalty, trust and dependence from clients like Mr Stewart, his son and Mr
Orton.

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Table of contents
Introduction................................................................................................................................3
Discussion..................................................................................................................................3
Volume 1................................................................................................................................3
1.1 Four observations.............................................................................................................3
Ethical issues in corporate governance..................................................................................4
Theoretical considerations.....................................................................................................5
Utility theory..........................................................................................................................5
Application of the theory into the case scenario....................................................................5
Conclusion................................................................................................................................11
References................................................................................................................................11

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Introduction
Ethics is vital, which adds value to the corporate governance in the workplace. Within
this, mention can be made of the Accounting Professional and Ethical Standard Board,
Limited, which standardizes the business operations. Access and permission to use this code
is granted in terms of the transactional services in the parameters of Public Interest Entities,
Partner Rotation, Non-assurance services and Fees among others (Ferrell, Fraedrich and
Ferrell, 2015). All the employees in the workplace ought to comply with the standards and
codes of APES 110 issued by Accounting Professional and Ethical Standard Board. This is
also applicable in case of the personnel hailing from outside Australia and practising in
Australia. Corporation Act (2001) is incorporated in the business operations, which acts
assistance in legalizing the instruments needed for standardizing the audits and reviews
(APESB, 2010). This assignment attempts to shed light on the corporate governance through
the theoretical consideration, that is, utility theories.
Discussion
Volume 1
1.1 Four observations
According to the observation of the Commission’s work, the four observations are
connection between conduct and reward, asymmetry of power and information between
financial services entities and their customers, effects of conflicts between duty and interest
and holding entities to account. Final and the Interim Report are vital doctrines in this case.
This is in terms of gaining an insight into the performance of the person towards adhering to
the terms and conditions of the legislations. Monitoring the performance results in awarding
the rewards according to the performance levels. As per the arguments of McAlister and
Ferrell, 2016), misconducts in case of rewards is against the ethics. Yet in cases of incentives,
bonus and commission schemes, the industries use measurement scale for maintaining the
balance between the sales and profit.