AM I ETHICAL?
As a CPA on a fast-track career at a global conglomerate, every day brings new surprises. Last night, though, you saw something that was indeed shocking. The company's CFO, apparently unaware that you were still in the office, put on a ski mask to hide his face and loaded beautiful leather chairs from a conference room into his parked van. You could not believe it, but he was stealing those chairs!
When you mentioned this to your supervisor, she told you, “Yeah, it's kinda bizarro, but he steals expensive items from the company and then has the audacity to display them at his home in plain view. When the CFO hosted the company holiday party at his house last year, I was shocked to see company chairs, lamps, and paintings in his living room!”
According to the Code of Conduct, do you have any further specific duties to report the CFO's activities?
- No, because accountants working in industry never are required to act as whistleblowers
- No, because the value of the stolen chairs was immaterial to the company's financial statements
- No, because you fulfilled your duty by informing your supervisor
- Yes, because the Code of Conduct considers theft by a financial officer to always be a material event
The SOLUTION is revealed at the end of the chapter.