Acca Per Return

Topics: Tax, International Financial Reporting Standards, Financial statements Pages: 15 (4266 words) Published: September 27, 2012

Question 1-Describe an occasion on which you had to demonstrate ethical behaviour When I was an attaché ,I was given the tasks of handling a tender for heavy vehicle tyres. One of the prospective suppliers offered to take me out for dinner to discuss the tender. At first , I thought it was a genuine call but after careful consideration, I realised that this was going to corner me and affect my independence in deciding whom to award the tender as he later called me offering a bribe. I politely turned down the offer as it was going to violate the independence ethical principle.

I later realised that the supplier in question also approached my superior offering to give a kick back of $1000 on condition that the tender was awarded to him. My boss later told me to disqualify the supplier as the behaviour was unethical and uncalled for.

Question 2-What did you learn from this experience and how will it influence your future behaviour in the workplace. I learnt that it is always important to be honest and fair in all business dealings .It is always vital to establish business relationships that will not put your career at risk or bring your name into disrepute. I also realised that there are people who will try to bring you to their side even if it means using unethical means, and my awareness for such people has been heightened and I will not allow small personal gains to affect my bright career lying ahead of me.

Question 3-What would have been the impact had you not behaved ethically in this situation

If I had behaved I unethically and accepted the bribe and my superior later found it out it was going to cost my career, as my superior was going to tell our college assessors about my behaviour resulting in expulsion from the programme. Furthermore, deserving suppliers could have lost the tender thus creating an uneven level playing field which could affect the economy as a whole. The company could have lost money by purchasing from a supplier without the right quality product, which could have caused accidents, losing lives and costing the company money thus hampering its profitability.


Question 1-describe how in your role you have contributed toward effective governance, provide at least two examples I have made sure that all transactions, business and personal are separated and disclosed to the shareholders of the company. Moreover, I have made sure that all recruitment and selection of the finance team members is fair based on qualifications and experience discarding any form of nepotism. This has resulted gave the financial team a leading role in the effective governance of all financial resources. I have also played an important strategic management role by monitoring corporate governance requirements; change in legislations .Recently an indigenisation bill was enacted for all companies to comply with the indigenous act which requires majority shareholders to be local investors. Our company is foreign owned and I had to advise management on the effect of the bill. I am also involved a lot in drafting the timetable for all different meetings such as strategic planning and monthly management meetings.

In what ways did you make sure you acted in the best interests of all concerned? I have always been honest in all business dealings .I never took my integrity and professionalism for granted. For instance, I have never awarded orders to suppliers based on personal relationships.

What negative impacts would have resulted if you had not acted the way you did? If I had allowed nepotism to affect the recruitment processes, unsuitable candidates could have been selected which could have jeopardised the quality of work produced affecting the achievement of company...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Acca Per Essay
  • Acca Per Essay
  • ACCA PER Q5 Essay
  • Acca Per Questions Essay
  • ACCA F5 notes Essay
  • Acca Essay
  • ACCA Essay
  • Essay about ACCA

Become a StudyMode Member

Sign Up - It's Free