Assignment
Scenario Summary
You have been invited to attend a meeting where your immediate supervisor will be presenting a draft of detailed financial projections to the chief financial officer and a subsequent meeting with the company president. You've not been involved in the preparation of the analysis thus far but understand that you might have some tasks delegated to you after the meeting. In addition, you realize that the company is at a critical juncture from issues such as high attrition of the accounting staff, current economic conditions, and increased competition.
Your Role/Assignment
You have recently been hired in the fairly small accounting department of a corporate business. The department is so small, in fact, that you may be called on at times for tasks ranging from simple bookkeeping, to preparation of financial statements and projections, and to perhaps even filling-in on the internal audit staff. One of your first responsibilities is to assist a senior level accountant with a detailed financial projection after input from the chief financial officer and the president of the company.
Activity
You need to draft a summary of how you will handle the situation. Specific questions that should be addressed are:
• Do you feel that there might be an ethical issue present? For the moment, assume that no laws have been broken and just focus on any possible ethical issues.
• If you were going to report a suspected ethical issue, how would you do so? For instance, to whom would you report? Would you discuss the matter with anyone first?
• Would the manner in which you respond vary depending on whether this corporation was privately held or publicly traded?
• Does the fact that you have only been recently hired play into your decisions?
• What possible sources of guidance might be available from a professional organization and/or your state's regulatory body overseeing the accounting profession?
• Lastly, please assume that you suspect that some state or federal laws have been broken. The problemsmight be beyond just a possible ethical issue, in other words. Would this change your handling of the situation?
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.