In this mini-case you will read about a Willis and Adams staff auditor who is confronted with an ethical challenge. You will then evaluate what he should do, and what you would do in a similar situation. Read the background information about Mike Stephan, a first-year Willis and Adams staff auditor who is confronted with an ethical challenge. To open the background document please double-click on the following icon (a document will open in Microsoft Word). Picture 1.value: 100.00 pointsNote: this question will not be automatically graded. It will be sent to your instructor for review. Complete the following questions using the background information provided in the document under Part 1.
a. List at least three alternatives available to Mike?
b. What are the pros or potential upside of each alternative you listed above?
c. What are the cons or potential downside of each alternative?
d. What are the implications of "eating time" for Mike, the firm, and others involved?
e. Alternatively, what are the implications if Mike decides not to follow Alex's advice and record the accurate time spent on the cash audit?
f. In your opinion, which of Mike's alternative courses of action would provide the best outcome and why?
g. How would you handle the ethical issues involved in this situation?