Qeestion Description

Effective financial reporting depends on sound ethical behavior. Financial scandals in accounting and the business world have resulted in legislation to ensure adequate disclosures, honesty, and integrity in financial reporting.
Task:
• Each group must select one of the given case studies (see below). No repetitions allowed.
• Read it carefully and answer the below questions
• Each group must submit a report not exceeding two pages in a question-and-answer format. (give detailed answers).
• Introduction and conclusion are not required.
Questions:

  1. Write a summary of your selected case study.
  2. Using your understanding of accounting calculations, standards and ethics, Identify and explain the ethical dilemma in the case study?
  3. What are the negative impacts that can happen if the unethical situation continues?
  4. What is the best possible course of action you should take?
  5. Identify the key stakeholders. Who will be negatively impacted if the unethical situation continues?

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