Ethicality of Accounting Activities

Ethicality of Accounting Activities The WorldCom bailiwick is an example of un honorable behavior performed by a accompany by abusing method of accounting activities to reflect bribe financial information. In this deterrent example the main cause of this wrong behavior is greed and neglect by the executives that allowed and encouraged this behavior. On the other hand, WorldCom employee Cynthia cooper is a prime example of ethical behavior that took place to uncover the wrong doing of individuals. Upon reading an name of a former financial analyst, Cynthia Coppers headland was intrigued, an audit was conducted on capital disbursal. In the WorldCom and Cynthia Cooper case unethical behavior was evident in multiple departments and name top key players that tried to cover up the fraud. The American Institute of Certified Public Accountants has established principles that include responsibilities, the firearm intimacy, integrity, objectivity and independence, due care , and scope and nature of services. The first perspirer go by responsibility which entails carrying out their responsibilities as professionals, members should proceeding sensitive professional and moral judgments in all their activities. Cynthia Cooper remained professional and employ moral judgments during her discovery of unethical accounting practices.

She remained persistent and was neer discouraged to stop her discovery when she revived inconclusive answers. The second principle involves public interest. The CEO of WorldCom, Scott Sullivan, did non protect the interest of the public. He intelligibly misstated the capital spending and improperly separate t! he costs. The financial statements produced by this misstatement resulted in the company having a understand of more assets than what was evident. Internal and external stakeholders interests were not protected. Scott Sullivan clearly put his own interest in the lead the interest of the public. This misstatement lead to a financial disaster for WorldCom and the stakeholders took a...If you wishing to get a full essay, order it on our website: BestEssayCheap.com

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