ETHICS and GOVERNANCE “Kickbacks”
1. A Code of Ethics may be rule based or principle based. Explain the difference and which of the two is the Code of Ethics of the Professional Accounting Bodies in Australia based?
2. Identify and explain the five (5) fundamental principles of the Code of Ethics of the Professional Accounting Bodies in Australia.
3. Identify and explain the five (5) types of threats to the fundamental principles of the Code of Ethics.
4. Consider the issues and problems involved in applying rule based and principle based codes of Ethics. Comment on how effectively the Code of Ethics of the Professional Accounting Bodies in Australia is being applied.
After completing the four questions above, answer the first four questions following the case study on page 61 of textbook, Accounting 8th edition, 2011, by Hogget, J, Edwards, L, Medlin, J and Tilling M, (from Wiley & Sons)
1. A Code of Ethics may be rule based or principle based. Explain the difference and which of the two is the Code of Ethics of the Professional Accounting Bodies in Australia based?
2. Identify and explain the five (5) fundamental principles of the Code of Ethics of the Professional Accounting Bodies in Australia.
3. Identify and explain the five (5) types of threats to the fundamental principles of the Code of Ethics.
4. Consider the issues and problems involved in applying rule based and principle based codes of Ethics. Comment on how effectively the Code of Ethics of the Professional Accounting Bodies in Australia is being applied.
After completing the four questions above, answer the first four questions following the case study on page 61 of textbook, Accounting 8th edition, 2011, by Hogget, J, Edwards, L, Medlin, J and Tilling M, (from Wiley & Sons)
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