APES 110 Code of Ethics for Professional - amazonia.fiocruz.br

That can: APES 110 Code of Ethics for Professional

The better answers referred to APES and were more specific to professional ethics than a general discussion about the scenario. Overall, applying the theories to the scenario was done well.

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For egoism many students focused on the short-term consequences rather than analysing the long-term consequences too. The better answers for the Deontological approach referred to APES or applied Kantian thinking, social contract or Theology to the scenario. Finally, the majority of students concluded that a Deontological approach was the most appropriate because John has a duty as an accountant to uphold his professional duties.

However they failed to evaluate the Teleological theories, including why these were not appropriate. John Marshall is employed as a financial controller for Sildas Ltd Australia division a multinational company that manufactures highly technical components for export.

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John has been the financial controller for around 18 months and feels that his career is progressing well and is paid what he considers to be an excellent salary. John and his partner have a large mortgage on the home they recently built and are looking forward to commencing their family soon. After completing a sample check of invoices, he found that the invoices were all made out to a subsidiary located in Ireland.

The company in Ireland does not assemble equipment that the components are part of. John who keeps up to date with his professional development requirements, has read that some multinationals are shifting profits to tax havens to avoid paying higher rates of tax in the country where the income is generated.

John is also aware that the ATO has set up a task force to deal with tax avoidance by multinational companies. When John approached the chief accountant Sildas Ltd, he was advised that the Irish company and the Australian company had established an agreement on pricing and that this policy was being adhered to, indicating it was just company policy and John need not worry himself about it.

John was advised not to mention this to anyone including the Prfessional.

The main ethical issue facing John is a conflict of interest. On one hand, John has a duty as a professional accountant to act with integrity, objectivity and professional competence. These duties would require John to produce a set of financial reports which outlines the true financial performance and position of Sildas Ltd. He may be breaching the Accounting Standards and APES Code of Ethics for Professional Accountants by knowingly allowing the financial statements to misrepresent the financial position of the company. There is considerable pressure on John over this matter as reporting the transfer of components at a cost well below the cost price of materials required to produce APES 110 Code of Ethics for Professional, will contribute to the profits of the Australian division being reported well below the profit that should be reported and the Australian shareholders as well as regulators such as the ATO being misled.

As cost of goods sold will be higher, both gross and net profits will not be correct. He has recently built a new home and has a large mortgage and his partner and he are looking to commence their family soon.

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This would put pressure on John to maintain his APES 110 Code of Ethics for Professional employment arrangements with his excellent salary. By complying with instructions not to mention this to anyone including auditors, John would be protecting his position. If John remains silent, the ATO may send their task force to audit the firm for tax avoidance and if he is found to be knowingly complicit, could face charges both civil and criminal including time in jail. In addition, the Ot community is also being short changed as they will not receive the same level of services that they may have been able to enjoy Porfessional this company and other multinational companies paid their fair share of tax. Australian taxpayers may also be paying a higher rate of tax to compensate for taxes not received from multinational companies. The first kind of teleological theory is ethical egoism.

Some have argued for example, Adam Smith or Milton Friedmanthat the pursuit of self-interest actually results in the greater societal benefit. Others may however be of the view that the pursuit of self-interest is often contrary to ethical conduct. From the information in the case we are told that John has been with the firm for 18 months, feels that his career is progressing well, is paid what he considers to be an excellent salary and recently took out a mortgage on a new home. There is a certain degree of nuance to 110 theory however, as long-term self rather than short-term self-interest is the major consideration. In pursuing ethical egoism, we would advise John to weigh up the long-term consequences for himself on the two main courses of action available to him.]