Upon graduating, you are excited to join a medium sized manufacturing company as an assistant accountant....

  

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Upon graduating, you are excited to join a medium sized manufacturing company as an assistant accountant. Your role includes providing appropriate information to the chief financial officer monthly financial reports and explanations,for the Board to consider in making some financial decisions. The company is currently inviting for external consultants' proposals for a possible sales strategy to launch a new product in India, with an intended investment of $1 million which is confidential to the external consultants. When collecting the proposals from different consulting firms, you happened to recognise a proposal from Cody Consultants, which is run by the father of one of your classmates Tommy. In fact, you have even met Tommy's father Anthony, the director of Cody Consultants. You are amazed that you are in possession of such important information but it seems you need to do something about this. You are required to answer the following questions: a. Explain the ethical issues relating to the above situation b. Describe 3 different choices of actions you may take and the ethical principles or theories relating to each of the choices C. What will be your action? Explain the consequence of your decision Upon graduating, you are excited to join a medium sized manufacturing company as an assistant accountant. Your role includes providing appropriate information to the chief financial officer monthly financial reports and explanations,for the Board to consider in making some financial decisions. The company is currently inviting for external consultants' proposals for a possible sales strategy to launch a new product in India, with an intended investment of $1 million which is confidential to the external consultants. When collecting the proposals from different consulting firms, you happened to recognise a proposal from Cody Consultants, which is run by the father of one of your classmates Tommy. In fact, you have even met Tommy's father Anthony, the director of Cody Consultants. You are amazed that you are in possession of such important information but it seems you need to do something about this. You are required to answer the following questions: a. Explain the ethical issues relating to the above situation b. Describe 3 different choices of actions you may take and the ethical principles or theories relating to each of the choices C. What will be your action? Explain the consequence of your decision

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1 This is an classic example of Familiarity threat wherein the threat that due to a long or close re... View the full answer