Unit 5 Case Study

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1 Unit 5 Case Study Ashley Oquendo Post University ACC211H: Managerial Accounting Mary Leone July 31, 2022

2 Unit 5 Case Study 1)Rachel Arnett's revision of her first proposal can be considered a violation of the IMA's Statement of Ethical Professional Practice. She discarded her reasonable projections and estimates after she was questioned by William Earle. She used figures that had a remote chance of occurring. By doing this, she violated the requirements to "Communicate information fairly and objectively" and "disclose all relevant information that could reasonably be expected to influence an intended user's understanding of the reports, analyses, or recommendations." By altering her analysis, she also violated the Integrity standard. She engaged in an activity that would prejudice her ability to carry out her duties ethically. In addition, she violated the Competence standard -"Provide decision support information and recommendations that are accurate, clear, concise, and timely" 2)Earle was clearly in violation of the Standards of Ethical Conduct for Management Accountants because he tried to persuade a subordinate to prepare a proposal with data that was false and misleading. Earle has violated the standards of Competence, Integrity and Credibility. 3) The internal controls Fore Corporation could implement to prevent unethical behavior include Approval of all formal capital expenditure proposals by the Controller and/or the Board of Directors Designating a non-accounting/finance manager to coordinate capital expenditure requests and/or segregating duties during the preparation and approval of capital expenditure requests. . Requiring that all capital expenditure proposals

3 be reviewed by senior operating management, which includes the Controller, before the proposals are submitted for approval. Requiring the internal audit staff to review all capital expenditure proposals or contracting external auditors to review the proposal if the corporation lacks manpower

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4 References Brewer, P., Garrison, R., & Noreen, E. (2021). Introduction to Managerial Accounting (9 th ed.). New York, NY: McGraw Hill Education, LLC.

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