Audit of your financial reports


Paper instructions:

Consider this situation. You are the CEO of a large non-profit organization that employs fifty people. Only three employees hold administrative positions: the Payroll Manager, the Operations Manager, and yourself. You have noticed that the organizations profitability has steadily been going down for the last twelve months. This is a surprise to you, as it seems that business has been growing, and you have been providing more services to people.

You decide to have your accounting firm complete an audit of your financial reports. Upon completion of this audit, it is discovered that significant amounts of money seemingly have disappeared every moth – or are otherwise unaccounted for. The only people that have access to these funds are your administrative employees. You suspect embezzlement has been committed, and have to decide what to do.

Your first course of action is to organize your thoughts. You decide to accomplish this task by first completing an IRAC analysis, or going through the 5 Whys Analysis on your current situation. Conclude this exercise in organizing your thoughts by evaluating a potential model specific to ethical decision making that you might consider using.

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Accounting Basics: Audit of your financial reports
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