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Tables of Contents for Business and Professional Ethics for Accountants
Chapter/Section Title
Page #
Page Count
Preface
ix
Overview of the Book
xv
PART I Developing an Awareness of the Issues
1
98
The Ethics Environment
2
50
The Ethics Environment for Business: The Battle for Credibility
2
6
Environmental Concerns
3
1
Moral Sensitivity
4
1
Financial Scandals: The Expectations Gap and the Credibility Gap
5
1
Economic and Competitive Pressures
5
1
Bad Judgments and Activist Stakeholders
6
1
Synergy Among Factors and Institutional Reinforcement
7
1
Outcomes
7
1
A New Mandate for Business
8
1
The Response by Business
9
3
Developments in Business Ethics
12
2
Concepts and Terms
12
1
Approaches to Ethical Decision Making Through Stakeholder Impact Analysis
13
1
The Ethics Environment for Professional Accountants: The Expectations Gap
14
1
Questions for Discussion
15
1
Cases
15
2
Bhopal---The Union Carbide
17
2
The Betaseron Decision (A)
19
2
Texaco: The Equador Issue
21
3
Where Were the Accountants?
24
1
To Resign or Serve?
25
1
Readings
The Social Responsibility of Business Is to Increase Its Profits
26
4
Milton Friedman
A Critique of Milton Friedman's Essay ``The Social Responsibility of Business Is to Increase Its Profits''
30
4
Thomas Mulligan
Domini 400 Social Index Gains 7.50% In December, S&P 500 Gains 5.82%: Press Release
34
3
The Whistle-Blower: Patriot or Bounty Hunter?
37
5
Andrew Singer
Managing for Organizational Integrity
42
9
Lynn Sharp Paine
Law Case Summary: Caremark National Inc.
51
1
L. J. Brooks
The Role of the Professional Accountant
52
47
Understanding the Role of a Professional Accountant Is Critical
52
1
Public Expectations of All Professionals
53
2
Public Expectations of a Professional Accountant
55
1
Dominance of Ethical Values Rather than Accounting or Audit Techniques
55
2
Priority of Duty, Loyalty, and Trust in a Fiduciary
57
3
Confidentiality: Strict or Assisted
60
1
Implications for Services Offered
60
2
Assurance and Other Services
60
1
Critical Value-Added by a Professional Accountant
61
1
Standards Expected for Behavior
62
1
Judgment and Values
62
2
Importance to Value-Added
62
1
Development of Judgment and Values
62
2
Sources of Ethical Guidance
64
2
Codes of Conduct
64
1
Laws and Jurisprudence
64
2
When Codes and Laws Don't Help
66
1
Questions for Discussion
66
1
Cases
66
2
The Eagle Has Landed
68
2
Allan Eagleson
The Lang Michener Affair
70
3
Dilemma of an Accountant
73
3
Societal Concerns
76
1
Management Choice
77
1
Maple Leaf Gardens Shenanigans
77
2
To Qualify or Not?
79
3
Readings
The AICPA At 100: Public Trust and Professional Pride
82
6
Liability Crisis in the United States: Impact on the Accounting Profession:
88
4
Appendix: Trends in the Legal Liability of Accountants and Auditors and Legal Defenses Available
92
7
PART II Ethical Governance and Decision Making
99
122
Ethical Governance---Codes and Beyond
100
80
Introduction
100
1
Governance Systems Come of Age
101
2
Ethics Programs
103
11
Developing and Managing an Ethical Culture
103
5
Corporate Codes of Conduct
108
1
Purpose, Focus, and Orientation
108
2
Code Content
110
1
Effective Implementation
111
3
Professional Accounting Guidance Environment
114
2
Professional Codes of Conduct
116
11
Purpose and Framework
116
1
Fundamental Principles and Standards
116
2
Rules: General and Specific
118
1
Discipline
118
3
Interpretations of Rules
121
1
Motivations for Changes in Professional Codes
121
1
Current Codes of Professional Conduct
122
1
International Comparison of Professional Codes
122
1
Shortfalls With and In Professional Codes
123
4
Issues Not Usually Resolved in Corporate Codes of Conduct
127
1
Conclusion
128
1
Questions for Discussion
129
1
Cases
129
2
Bankers Trust: Learning from Derivatives
131
3
Barings Bank: Rogue Trader
134
3
Philip Services Corp....Into the Dumper
137
5
Dow Corning Silicone Breast Implants
142
2
Playing God
144
1
Economic Reality or GAAP
144
1
Multidisciplinary Practices---Ethical Challenges
145
1
Team Player Problems
145
1
Locker Room Talk (see Chapter 5)
146
1
Readings
Appendix A: International Comparison of Main Aspects of Professional Codes of Conduct
147
13
The Anderson Committee: Restructuring Professional Standards
160
1
G. D. Anderson
Applying the Stakeholder Management Model to the Analysis and Evaluation of Corporate Codes
161
12
M. Clarkson
M. Deck
Creating Ethical Corporate Structures
173
7
P. E. Murphy
Approaches to Ethical Decision Making
180
41
Introduction
180
1
Stakeholder Impact Analysis
180
2
Overview
180
1
Fundamental Interests of Stakeholders
181
1
Measurement of Quantifiable Impacts
182
4
Profit
182
1
Items Not Included in Profit: Measurable Directly
183
1
Items Not Included in Profit: Not Measurable Directly
183
1
Bringing the Future to the Present
183
1
Dealing with Uncertain Outcomes
184
1
Identifying Stakeholders and Ranking Their Interests
185
1
Summary
186
1
Assessment of Nonquantifiable Impacts of Proposed Decisions:
186
1
Fairness Among Stakeholders
186
1
Rights of Stakeholders
187
1
Comprehensive Decision-Making Approaches
187
4
5-Question Approach
187
1
Moral Standards Approach
188
1
Pastin's Approach
189
2
Extending and Blending the Approaches
191
1
Commons Problems
191
1
Developing a More Ethical Action
191
1
Common Ethical Decision-Making Pitfalls
192
1
Summary of Steps for an Ethical Decision
193
1
Conclusion
193
1
Questions for Discussion
194
2
Illustrative Applications of Stakeholder Impact Analysis
When Does An ``Aggressive Accounting'' Choice Become Fraudulent?
196
1
Bribery or Opportunity in China
197
3
Proposed Audit Adjustment Case
200
4
Cases
Smokers are Good for the Economy---Really
204
2
Ford Pinto
206
2
The Kardell Paper Co.
208
2
Readings
Cost Benefit Analysis
210
7
L. J. Brooks, Jr.
Ethical Analysis for Environmental Problem Solving
217
4
Graham Tucker
PART III Significant Ethics Issues Facing Business and the Profession
221
93
Significant Ethics Issues Facing Business and the Profession
223
91
Conflicts of Interest---a Significant Ethical Problem Area
223
13
Common Conflicts of Interest Situations in Business
224
1
Management to Avoid and Minimize Consequences
225
1
Forensics Suspicions: The 20/60/20 Rule
225
1
The Gone Theory: Identification of Potentially Harmful Situations and Likely Perpetrators
226
1
Agency Theory, Ethics, and Sears
226
1
Conflicts of Interest and the Professional Accountant
226
1
A Professional Accountant's Fiduciary Relationship
227
1
Types of Conflicts of Interest for Professional Accountants
228
1
Spheres of Activity Affected
229
1
Conflicts of Interest Affecting Services Offered
229
3
Conflicts of Interest Involving Improper Use of Influence
232
1
Conflicts of Interest Involving Use or Misuse of Information (Confidentiality)
232
3
Managing Conflicts of Interest: Awareness and Management
235
1
Conclusion
236
1
Workplace Ethics---A Significant Ethical Problem Area
236
4
Employee Rights
236
1
Privacy and Dignity
236
2
Fair Treatment
238
1
Healthy and Safe Work Environment
239
1
Ability to Exercise Conscience
239
1
Trust and Its Importance
240
1
Conclusion
240
1
International Operations---A Significant Ethical Problem Area
240
4
Impacts on Local Economies and their Cultures
241
1
Conflicts Between Domestic and Foreign Cultures
241
1
Bribery, Facilitating Payments
242
1
Apparent Cultural Conflicts with Banning Gifts, Bribes, and Facilitating Payments
243
1
Moral Imagination
243
1
Guidelines for Ethical Practice
244
1
Conclusion
244
1
Social Accountability and Audit---A Significant Ethical Problem Area
244
3
Organizational Objectives for Corporate Ethical Performance (CEP)
245
1
Measurement of Corporate Ethical Performance
245
1
Reporting of CEP
246
1
Audit or Verification of CEP Reports
247
1
Conclusion
247
1
Crisis Management---A Significant Ethical Problem Area
247
4
Conclusion
251
1
Questions for Discussion
251
1
Appendix A: Corporate Ethical Performance Indicators Used in the Corporate Ethics Monitor
254
3
Appendix B: Ethics Audit Program Annual Audit Question
257
Cases
251
8
Cases on Conflicts of Interest
Tax Return Complications
259
1
Minimal Disclosure
260
1
Opinion Shopping
260
1
Lowballing a Fee Quotation
261
1
Risk Management of Taxes Payable---Is It Ethical?
262
1
Cases on Workplace Ethics
Texaco's Jelly Beans
262
5
Downsize or Bonus Allocation Decisions
267
1
Cases on International Operations
Jail and a German Sub-Contractor
267
1
Cases on Crisis Management
The Exxon Valdez
268
3
The Brent Spar Decommissioning Disaster
271
2
Interesting Times
273
2
Readings
``Can't We all Just Get Along: Cultural Variables in Codes of Ethics''
275
6
Nancy Roth
Todd Hunt
Maria Stavropoulos
Karen Babik
``Values in Tension: Ethics Away from Home''
281
8
Tom Donaldson
``Effective Crisis Management''
289
8
Ian Mitroff
Paul Shrivastava
Firdaus Udwadia
``Ethical Problems in Public Accounting: The View from the Top''
297
10
Don Finn
Lawrence Chonko
Shelby Hunt
``Some Unresolved Ethical Issues in Auditing''
307
7
Sally Gunz
John Mccutcheon
``Ethics in Taxation Practice''
314
Tom Lynch