Review of Accounting Ethics Research Paper Example | Topics and Well Written Essays - 1000 words

Review of Accounting Ethics - research Paper ExampleCurrent Business and Regulatory Environment-Conducive to respectable Behavior In light of the act and current scandal related art surround people working in the corporate environment tend to indulge into unethical business practices. However, it is to be determined that the ethics whether qualitative or duodecimal in nature have undergone a rise or decline in the conduct of the business of the respective organization. In reality the tension between the quantitative and the qualitative ethics are resulting in the increasing tensions and conflicting needs of the club. The company bears the responsibility of providing timely information to the shareholders that is relevant and easily mum by the shareholders of the company whereas the responsibility of the accountant of the company is with meeting assigned ethical duty. But broadly there lies a clash between the ethics and the economical status of the country in which the compan y is operating and unfortunately economies of the country turn the winner, making the regulatory environment conducive to the ethical bearing (Kushniroff, 2011, p.103). The Organization SNC-Lavalin is one of the largest construction and engineering company in Canada at Montreal. The company has come up with bare-assed inventions and innovations in the field of core engineering business so as to encourage the new activities and skill to meet the ever changing requirements of the markets and the clients. The company concentrates on reaching the sustainable growth in areas like world class products. The company also places the splendor of ethics and quality of the product frankincense manufactured by the company for the achievement of the ongoing improvement of the company. Thus the company pays great importance to the achievement of the financial objective of the company in accordance with the code of ethics of the company. The Accounting Ethical Breach A complex ethical expose re sulted in the accounting failure of the company. This was identified from a certain number of the executives of the company leading to the misallocation of the costs of the company in relation to payments to agents valuing a entire sum of $ 56 million. The rationale behind this was irrespective the CFO of the company refusing to sign the transaction it was promptly passed by the head of the company. Though the company accepted that weakness persisted in its inner controlling over the financial reporting of the company which occurred due to the management failing to comply with the code of ethics and policies on commercial agents yet it was too late (Lemer, 2012). The impact on the organization related to ethical breach The breach in the accounting of the company resulted in the chief executive of the company resigning after the internal investigation taking place. The reason behind the resignation of the chief executive of the company was due to paradoxical payment to third part y agents against the companys code of ethics. The intervention of the media made the matter much gruesome leading to project the actual news being blown out of proportion. Detection of organizational Ethical Issue As per the report of SNC it was found that Mr. Duhaime the chief executi