BackgroundWhat company is the subject of the case? Why did you choose this company/ethical situation? What ethics violations were discovered?Ethical ViolationsWho were the main participants involved in perpetrating the violations? Discuss the ethical responsibilities of professional accountants to the following stakeholders regarding the financial reporting process. How were the stakeholders affected by the ethics violations?InternalExternalWhat AICPA Codes of Professional Conduct were violated?What is the importance of independence, when is independence required, and why must you be independent both in fact and in appearance?Did the main participants adhere to moral and ethical principles? Soundness of moral character? Honesty? In other words, discuss the case as it relates to the integrity of the main participants.Did the main stakeholders, including the professional accountants, maintain their objectivity? Explain.What were the implications of these violations on the business and accounting profession from the following perspectives?LegalSocialEconomicDoes the company have a specific code of ethics? Were any of the components of the code violated? Discuss.Theoretical ModelsWhat ethical models were violated in this case? Provide detailed rationale to support your claim.How could ethical models have been used to produce better decisions and outcomes? In other words, compare and contrast ethical models for their potential contributions to better decision-making.External Influences and International Accounting StandardsWhat impact, if any, do regulatory activities have on the ethics of this case? If not applicable to this case, discuss possible overall impacts of regulatory activities for ethical situations in general.What impacts, if any, do international accounting standards have on the ethics of this case? If not applicable to this case, discuss possible overall impacts of international accounting standards for ethical situations in general.What impacts, if any, do emerging technologies have on the ethics of this case? If not applicable to this case, discuss possible overall impacts on ethical situations in general.Ethical FrameworkPropose an ethical framework for setting appropriate standards of conduct for professional accountants producing a higher level of ethical values and decision making, as they relate to this case. The framework should include the ways in which management will be involved in the process and what company resources should be available to employees to help make them more ethical choices.Could internal controls have been utilized to produce more ethical behavior? Would a plan by corporate governance be an appropriate vehicle for delivering these internal controls to encourage ethical behavior? Discuss
