Ethics Essay

1. Frame the ethical make loveShould Giles and Regas have a serious alliance while processing on a same case or in spite of appearance the same history firm?2. match all the factsThe couple spends in the flesh(predicate) meter together during the workdayRegas is having a terce hours long lunch breakRegas is be distracted from workTeam members ar aw be of the kind amidst twainRegas and Giles have tried to be apprehensive closely their kindred3. Identify the Stakeholders and their obligations aspiration Sax, the controller of CAA Industries, has the righteousness to greet the hours that were bill was applied rejectly and the work was through with(p) efficiently. Giles should be amenable for billing the hours and work process since he is the oversight attendant on the combat. Team members on the engagement have the right to expect the co-workers do their part of the work and have a fair palmment. Regas should consider the consequences of her actions on others . Saduga & deoxyadenosine monophosphate Mihca (the firm) has the right to expect their employees to perfom their work on a schoolmaster level. The lymph node (CAA Industries) has the right to expect the work being through with(p) classly. herbaceous plant Morris, the managing partner of Saduga& Mihca, has a right to be told well-nigh the family relationship between Giles and Regas.4. Identify the relevant accounting ethics standardsH iodinesty Fully disclosing about the relationship between the employees and hours being account to the client. Integrity Billing the client the correct hours and acting in accordance with scrupulous behavior. Due care in the capital punishment of professional responsibilities Fairness Each squad members on the engagement should be treat equally and openly.5. Identify the operational issuesIs that an forgiving Resources insurance polity existed which prohibited geological dating between two members of the Firm who were of different ran k, and that policy appears impotent Should Giles act as the supervising partner on the engagement diaphragmout the unprofessi unrivalledss finishance by Regas? Should the group members on the engagement communicate about the problems with the supervisor?6. Identify the accounting, analyseing and/or receipts issues Since the case does not deal with fiscal reporting per se, these issues are limited. The hours that charge to the client.7. What are the alternatives?Do nothing. hold off to see what happens and thus resolved what to do next utter to twain Regas and Giles about the problems and concerns from the client.8. Compare and bid the alternativesDo nothing it is legal to do so, however it does not consistent with professional standards because there is an actual policy pointed that employees in different ranks should not be dating with each other within the firm. Wait to see what happens and then decided what to do next Since Giles and Regas have come to an culture to s et the personal matter by until this particular(a) engagement ends, it probably could keep confirm until the project is over. However, dating is still not allowed when the employees are from different ranks. spill the beans to two parties It is the companys responsibility to vouch that the clients work is through properly and in a well-timed(a) manner. Whether or not Regas and Giles have billed extra hours to the clients because of their relationships, the company should be responsible for their employees behavior and let the employees aware of the policy and execute it. Also, because the fact that the squad members are aware of the relationship and they deserve to be treat reasonably according to the evaluator theory. Egoism Defines right or gratifying behavior in terms of its consequences for the various(prenominal) Utilitarianism quest for a relatively unreserved method for deciding the morally correct course of action for any particular situation. Justice Theor y respects your rights and treats you fairly and gives each person what she or he deserves. Virtue Theory apply both(prenominal) to the purpose maker and to the act chthonian consideration by that party.9. Decide on a course of actionTalk to both Regas and Giles about the problems and concerns from the client. Both of the employees should know that the company expects them to set on a professional level during work and discover the human resources policy.10. Reflect on your decisionBe professional and perform as a professional. Since Giles are aware that Regas is having a hard time putting herself back to work because of the relationship, they should put their personal merriment after the work. If the relationship is getting serious, whizz of the parties should be resign from the firm.Questions1. I mean both parties have the responsibility to perform the work. However, Ed Giles is the supervising partner on the engagement team, he should be more than aware of being profes sional and perform clients work to the standard.2. If Giles were a person of integrity, he would tell herb Morris he would set aside his relationship with Regas until the engagement is over. Furthermore, they should not be in a same audit team anymore since they both have personal feelings for each other. If Giles thinks that their relationship is getting serious, one of them will be resign.3. Everyone would have one or two weak secondment in a relationship. However still, a professional accountant should not realise their personal pleasure into work or even prolong the process of the clients work. Herb Morris should still happen with Giles and talk about the clients (CAA Industries) concerns and make it clear with the client and the relationship would not affect anything on the engagement. Since both Giles and Regas have been working on the CAA industries audit team for a while, it is not apt to replace both of them at this moment. Herb Morris, as the managing partner of the f irm, has the right to swear Regas and Giles their responsibilities and expects them to perform the work within the expectation. If Regas and Giles decide to process their relationship further, then they should follow the Human Resources policy and one of them should be resign from the accounting firm in the future in order to avert conflicts of interests.