Solving Ethical Dilemmas in the Accounting Profession

Topics: Business ethics, Auditor's report, Audit Pages: 3 (956 words) Published: September 23, 2012
Solving Ethical Dilemmas in the Accounting Profession

This paper outlines the ethical dilemmas that an accountant faces when presented with any given project. In this case, Daniel Potter, a staff accountant, is presented with an auditing assignment where he is forced to make the decision to either follow the orders of his immediate authority or the ethical guidelines set forth by auditors.

Solving Ethical Dilemmas in the Accounting Profession

In the case The Dilemma of an Accountant, Daniel Potter’s professional ethics are tested. His current assignment is to prepare for an audit that in most cases would be simple giving that the guidelines have been previously set by the auditing bodies. However, Daniel has been given conflicting instructions from his immediate boss that would force him to disregard ethical codes. Now he is faced with a choice to either follow those codes or make an exception that would make his company appear to be completely in compliance. Daniel was working as a staff accountant with Baker Greenleaf when he was given his first major audit assignment to work on. This assignment required him to work under the supervision of his senior, Oliver Freeman, on an audit for a client's subsidiary, a work that was shared with another Big Eight firm. At the start of the work, Gene, his assistant, told Dan that Oliver was a strict authoritarian and a very inflexible man. During the course of the audit, Dan came across a material misstatement that legally required him to issue an "except for" opinion but his supervisor insisted on issuing a clean audit opinion, upon which Dan had several heated arguments with his supervisor. These events led Dan to question the fact that whether he should do as instructed by his supervisor or follow the codes on ethics and professional integrity. There are four stakeholders in the case the main one being Daniel, who is interested in pursuing a career that is liberated from professional misconducts....
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