Describe an ethical dilemma that an auditor or an accountant might face in his or her business career and then illustrate how the auditor or accountant might use the six-step approach presented below to resolve that dilemma:

1. Obtain the relevant facts. Students should list the key facts from their dilemma.

2. Identify the ethical issues from the facts. Students should identify the key ethical issue(s) in their dilemma.

3. Determine who is affected by the outcome of the dilemma and how each person or group is affected. Students should identify who is involved and how each person is affected by the dilemma.

4. Identify the alternatives available to the person who must resolve the dilemma. Students should list the alternatives available to the auditor or accountant.

5. Identify the likely consequence of each alternative. Students should identify both the short- and long-term effects of each alternative.

6. Decide the appropriate action.

Answer rating: 100% (QA)

One ethical dilemma that an auditor or accountant might face is when a client requests them to overlook or hide financial information that is material ... View the full answer