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