Questions from Business Ethics

Q: If the provision of management advisory services can create conflicts of interest

If the provision of management advisory services can create conflicts of interest, why are audit firms still offering them?

Q: If you were an auditor, would you buy a new car

If you were an auditor, would you buy a new car at a dealership you audited for 17% off list price?

Q: If you were a management accountant, would you buy a product

If you were a management accountant, would you buy a product from a supplier for personal use at 25% off list?

Q: If you were a professional accountant, and you discovered your superior

If you were a professional accountant, and you discovered your superior was inflating his or her expense reports, what would you do?

Q: Can a professional accountant serve two clients whose interest’s conflict? Explain

Can a professional accountant serve two clients whose interest’s conflict? Explain.

Q: If an auditor’s fee is paid from the client company, isn’t

If an auditor’s fee is paid from the client company, isn’t there a conflict of interests that may lead to a lack of objectivity? Why doesn’t it?

Q: What is meant by the term "fiduciary relationship"?

What is meant by the term "fiduciary relationship"?

Q: What is the most important contribution of a professional code of conduct

What is the most important contribution of a professional code of conduct or corporate code of conduct?

Q: Are one or more of the fundamental principles found in codes of

Are one or more of the fundamental principles found in codes of conduct more important than the rest? Why?

Q: Was the "expectations gap" that triggered the Treadway and Macdonald

Was the "expectations gap" that triggered the Treadway and Macdonald Commissions, the fault of the users of financial statements, the management who prepared them, the auditors, or the standard setter...