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QUESTION 2 Lay Berhad's Finance director developed a staff of executives that use of accounting loopholes, special purpose entities and poor financial reporting. The company were able to hide billions of dollars in debt from failed deals and projects. Chief Financial Officer and other executives misled Lay's board of directors and audit committee on high-risk accounting practices and pressured the auditor to ignore the issues. Lay Berhad is planning to takeover, Mal Sdn.Bhd, a company involved in new technology. The Finance Director oversees the takeover team and has a brother works as an accountant for the company concerned. The Finance Director is keeping this information secret because he is planning to get inside information from his sister that might help the takeover succeed. Required: a) Discuss the ethical issues involve in this company. (15 marks) Identify and explain the principles arguments against voluntary disclosure by business of their environmental policies, impact, and practices. (10 marks) b)