Ethicality of Accounting Activities

Ethicality of Accounting Activities The WorldCom bailiwick is an example of un honourable behavior performed by a familiarity by abusing story activities to reflect demoralize financial information. In this font the main cause of this unethical behavior is greed and neglect by the executives that allowed and encouraged this behavior. On the other hand, WorldCom employee Cynthia make is a prime example of ethical behavior that took place to uncover the wrong doing of individuals. Upon reading an leger of a former financial analyst, Cynthia Coppers heading was intrigued, an audit was conducted on capital expenditure. In the WorldCom and Cynthia Cooper case unethical behavior was evident in multiple departments and come to top key players that tried to cover up the fraud. The American Institute of Certified Public Accountants has established principles that include responsibilities, the human intimacy, integrity, objectivity and independence, due care, and scope and nature of services. The first pinny go by responsibility which entails carrying out their responsibilities as professionals, members should deterrent example 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 not protect the interest of the public. He intelligibly mi sstated the capital spending and improperly ! separate the 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 beforehand the interest of the public. This misstatement lead to a financial disaster for WorldCom and the stakeholders took a...If you requirement to get a full essay, order it on our website: BestEssayCheap.com

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