Jennifer Ritchie’s Dilemma Essay Example
Jennifer Ritchie’s Dilemma
Code of ethics for professional accountants involves key elements of moral principles decision problems and the consequences of the decisions .Professional ethics is the behavior of a member of a professional body towards the other members of his profession and towards the members of an organization in their daily activities.
Jennifer should not have told David about the impending decision concerning the power department. It is unethical to hold romantic relationships in an organization though in this case the relationship was kept a secret. The decision was just some sort of a proposal and had not yet been made.
According to section 100 of the APES 110 Revised code of ethics for professional accountants fundamental principles include those of integrity, objectivity, professional competence and due care, confidentiality and professional behavior. Jennifer violated the principle of confidentiality since she went ahead to disclose the information about the impending decision without proper and specific authority. It is recommended that members should respect the confidentiality of information acquired as a result of professional or business relationships and should not disclose to third parties without proper and specific authority unless there is legal or professional right or duty to disclose confidential information acquired as a result of professional relationships and should not be used for personal advantage of professional accountant and third parties. It would be unethical if Jennifer holds the correct information analysis detailing the $ 300,000 savings from the outside purchase of power from Bill Rintoul and instead protect the power department workers and David.
The APES 110 Section 100 (110) recommends that professional should be of high integrity, straight forward in dealing and completeness of what is required of financial reports should be honest and should present a picture of the state of the company’s affairs.
It is recommended that the integrity of the reports depends on the integrity of the person preparing and presenting them. Jennifer is thus not entitled to place herself under any obligations to outside individual that might influence her performance of her official duties.
Recommendation and conclusion
I recommend that Jennifer should act independently and should keep any information confidential. She should be straight forward in her dealings and adhere to principles of professionalism and probity.
Apes 110, revised code of ethics for professional accountants, pages 17-22
More Important Things