Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
The personal qualities as well as the professional qualities of an accountant can influence his/her role in the strategic management process. Outline three personal qualities and two professional qualities expected of an accountant. [5marks]
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There is an ongoing debate about the relative merits of the stakeholder approach versus the shareholder approach to corporate governance.
Required:
Compare and contrast the stakeholder approach and the shareholder approach to corporate governance. (10 marks)
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The IT Director of Uswatu Ltd (Uswatu) has asked you to undertake a cost-benefit analysis of a proposed new IT system. The IT Director will use this analysis to convince the Board of Directors of Uswatu that they should invest in the new system. As part of your analysis, you found that the new system will not run properly on Uswatu’s existing computers. This means that Uswatu would have to replace most of their existing Desktop computers and servers, leading to an excess of costs over benefits.
The IT Director has suggested that you downplay the cost of replacing the IT infrastructure as he was sure that he ‘could find a work-around’ that would allow the existing computers to use the new software, though he was currently uncertain how this would be accomplished.
The IT Director has told you that he ‘expects’ the cost-benefit analysis to show a favourable result for the new system and has indicated that your future promotion prospects may depend on this.
Required:
Explain the IFAC’s fundamental ethical principles that you would be breaching if you agree to do the IT Director’s request. (10 marks)
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Apusco is an indigenous multinational mining company which undertakes a wide range of mining projects around the world. Apusco has to work with many other organizations and government agencies in order to manage pollution and protection of the environment. Apusco’s mission statement states that ‘The basis of our company is built on the values of conducting business in a socially responsible and ethical manner. We respect the law, protect the environment, and embark on developmental projects in the community.’
Apusco’s values are included within its Ethical Code of Conduct. Apusco places high emphasis on its ethical and sustainable business practices. It involves employees, suppliers, and the members of local communities in which it operates in its strategic management processes. All these stakeholders are fully trained by Apusco in the Ethical Code of Conduct and they are expected to adhere to it.
Required:
Discuss FIVE (5) importance to Apusco for incorporating business ethics and sustainability into its strategic management activities.
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Wakanda Ltd is a listed multinational company which manufactures and sells fruit juice. Last year, Wakanda Ltd received criticism in the national press in Ghana and in other countries as a lot of customers were hospitalized after purchasing some of its fruit juice which was contaminated. This resulted in low patronage of its products and a huge fine by the Government.
The Board of the company believes in improving relationships with groups such as suppliers, customers, and employees in order to regain its reputation. It has come out with the following corporate social responsibility (CSR) initiatives in order to correct the shortfall in sales:
Required:
Assess the significance of the CSR stance taken by the Board.
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The International Federation of Accountants (IFAC) Code of Ethics discusses the need for professional accountants to be aware of and avoid conflict of interest situations as well as maintain independence in carrying out their professional duties. The professional accountant is exposed to several threats to independence, which are likely to lead to conflict of interest. A threat may arise where an assurance firm provides services other than assurance services to an assurance client.
Required:
i) Identify the specific threat a professional accountant or assurance firm faces by providing the following services:
ii) Suggest TWO measures each a professional accountant can take to minimize the threats identified in (i). (4 marks)
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Apau Chemist Ltd is a company engaged in the manufacturing of various drugs for the local market. There have been a series of ethical infractions within the company. Some top management have been accused of insider trading, bribing some key staff of the regulatory authorities, and attempts to cover up the alleged distribution of expired drugs. There is a total breakdown of ethical standards within the company. The board of directors has expressed grave concerns about the current happenings in the company. At its last quarterly meeting, the board resolved to engage the services of a corporate governance expert to help address the situation. The board understands that there are two major approaches to managing ethics in an organization.
Required:
As a corporate governance expert, you have been engaged by the board to advise it on TWO approaches to the management of ethics in organizations. (8 marks)
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
The personal qualities as well as the professional qualities of an accountant can influence his/her role in the strategic management process. Outline three personal qualities and two professional qualities expected of an accountant. [5marks]
Find Related Questions by Tags, levels, etc.
There is an ongoing debate about the relative merits of the stakeholder approach versus the shareholder approach to corporate governance.
Required:
Compare and contrast the stakeholder approach and the shareholder approach to corporate governance. (10 marks)
Find Related Questions by Tags, levels, etc.
The IT Director of Uswatu Ltd (Uswatu) has asked you to undertake a cost-benefit analysis of a proposed new IT system. The IT Director will use this analysis to convince the Board of Directors of Uswatu that they should invest in the new system. As part of your analysis, you found that the new system will not run properly on Uswatu’s existing computers. This means that Uswatu would have to replace most of their existing Desktop computers and servers, leading to an excess of costs over benefits.
The IT Director has suggested that you downplay the cost of replacing the IT infrastructure as he was sure that he ‘could find a work-around’ that would allow the existing computers to use the new software, though he was currently uncertain how this would be accomplished.
The IT Director has told you that he ‘expects’ the cost-benefit analysis to show a favourable result for the new system and has indicated that your future promotion prospects may depend on this.
Required:
Explain the IFAC’s fundamental ethical principles that you would be breaching if you agree to do the IT Director’s request. (10 marks)
Find Related Questions by Tags, levels, etc.
Apusco is an indigenous multinational mining company which undertakes a wide range of mining projects around the world. Apusco has to work with many other organizations and government agencies in order to manage pollution and protection of the environment. Apusco’s mission statement states that ‘The basis of our company is built on the values of conducting business in a socially responsible and ethical manner. We respect the law, protect the environment, and embark on developmental projects in the community.’
Apusco’s values are included within its Ethical Code of Conduct. Apusco places high emphasis on its ethical and sustainable business practices. It involves employees, suppliers, and the members of local communities in which it operates in its strategic management processes. All these stakeholders are fully trained by Apusco in the Ethical Code of Conduct and they are expected to adhere to it.
Required:
Discuss FIVE (5) importance to Apusco for incorporating business ethics and sustainability into its strategic management activities.
Find Related Questions by Tags, levels, etc.
Wakanda Ltd is a listed multinational company which manufactures and sells fruit juice. Last year, Wakanda Ltd received criticism in the national press in Ghana and in other countries as a lot of customers were hospitalized after purchasing some of its fruit juice which was contaminated. This resulted in low patronage of its products and a huge fine by the Government.
The Board of the company believes in improving relationships with groups such as suppliers, customers, and employees in order to regain its reputation. It has come out with the following corporate social responsibility (CSR) initiatives in order to correct the shortfall in sales:
Required:
Assess the significance of the CSR stance taken by the Board.
Find Related Questions by Tags, levels, etc.
The International Federation of Accountants (IFAC) Code of Ethics discusses the need for professional accountants to be aware of and avoid conflict of interest situations as well as maintain independence in carrying out their professional duties. The professional accountant is exposed to several threats to independence, which are likely to lead to conflict of interest. A threat may arise where an assurance firm provides services other than assurance services to an assurance client.
Required:
i) Identify the specific threat a professional accountant or assurance firm faces by providing the following services:
ii) Suggest TWO measures each a professional accountant can take to minimize the threats identified in (i). (4 marks)
Find Related Questions by Tags, levels, etc.
Apau Chemist Ltd is a company engaged in the manufacturing of various drugs for the local market. There have been a series of ethical infractions within the company. Some top management have been accused of insider trading, bribing some key staff of the regulatory authorities, and attempts to cover up the alleged distribution of expired drugs. There is a total breakdown of ethical standards within the company. The board of directors has expressed grave concerns about the current happenings in the company. At its last quarterly meeting, the board resolved to engage the services of a corporate governance expert to help address the situation. The board understands that there are two major approaches to managing ethics in an organization.
Required:
As a corporate governance expert, you have been engaged by the board to advise it on TWO approaches to the management of ethics in organizations. (8 marks)
Find Related Questions by Tags, levels, etc.
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