Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN: 9781337619455
Author: Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher: Cengage Learning
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Question
Chapter 1, Problem 37RQSC
To determine
Concept Introduction:The framework for ethical decision making has been developed by using the utilitarian theory and rights theory. It helps an accountant to overcome the ethical dilemma in an effective manner.
To explain:The seven steps in the framework for professional decision making and an example explaining the ethical decisions to be made.
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Explain the steps that apply your own sense of right and wrong to ethical dilemmas.
Quite often, people may face situations that put them in an ethical conflict. The best way to cope with this is ________.
Question 22 options:
A)
to develop a personal code of ethical conduct about what is right and wrong
B)
to use the "golden rule"
C)
to do what makes the largest number of people happy in the situation
D)
to do nothing and ignore the situation
E)
to act the same way you have seen others act in similar situations
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Chapter 1 Solutions
Auditing: A Risk Based-Approach (MindTap Course List)
Ch. 1 - Prob. 1CYBKCh. 1 - Prob. 2CYBKCh. 1 - Prob. 3CYBKCh. 1 - Prob. 4CYBKCh. 1 - Prob. 5CYBKCh. 1 - Prob. 6CYBKCh. 1 - Prob. 7CYBKCh. 1 - Prob. 8CYBKCh. 1 - Prob. 9CYBKCh. 1 - Prob. 10CYBK
Ch. 1 - Prob. 11CYBKCh. 1 - Prob. 12CYBKCh. 1 - Utilitarian theory holds that what is ethical is...Ch. 1 - Prob. 14CYBKCh. 1 - Which of the following statements related to...Ch. 1 - Utilitarianism does not require which of the...Ch. 1 - Prob. 17CYBKCh. 1 - Prob. 18CYBKCh. 1 - Prob. 19CYBKCh. 1 - Which of the following factors is not an example...Ch. 1 - Prob. 1RQSCCh. 1 - Prob. 2RQSCCh. 1 - Prob. 3RQSCCh. 1 - Prob. 4RQSCCh. 1 - Prob. 5RQSCCh. 1 - Prob. 6RQSCCh. 1 - Prob. 7RQSCCh. 1 - Prob. 8RQSCCh. 1 - Prob. 9RQSCCh. 1 - Prob. 10RQSCCh. 1 - Prob. 11RQSCCh. 1 - Prob. 12RQSCCh. 1 - Prob. 13RQSCCh. 1 - Prob. 14RQSCCh. 1 - Prob. 15RQSCCh. 1 - Prob. 16RQSCCh. 1 - Prob. 17RQSCCh. 1 - Prob. 18RQSCCh. 1 - Prob. 19RQSCCh. 1 - Prob. 20RQSCCh. 1 - Prob. 21RQSCCh. 1 - Prob. 22RQSCCh. 1 - Prob. 23RQSCCh. 1 - Prob. 24RQSCCh. 1 - Prob. 25RQSCCh. 1 - Prob. 26RQSCCh. 1 - Prob. 27RQSCCh. 1 - Prob. 28RQSCCh. 1 - Prob. 29RQSCCh. 1 - Prob. 30RQSCCh. 1 - Prob. 31RQSCCh. 1 - Refer to the Why It Matters feature “What Is...Ch. 1 - Prob. 33RQSCCh. 1 - Prob. 34RQSCCh. 1 - Prob. 35RQSCCh. 1 - Prob. 36RQSCCh. 1 - Prob. 37RQSCCh. 1 - As the auditor for XYZ Company, you discover that...Ch. 1 - Prob. 39RQSCCh. 1 - Prob. 40RQSCCh. 1 - Prob. 41RQSCCh. 1 - Prob. 42RQSCCh. 1 - Prob. 43FFCh. 1 - Prob. 44FFCh. 1 - Prob. 45FFCh. 1 - Prob. 46FF
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Similar questions
- Ahmed seeks help of his friend Mohammed whenever he wants to take an ethical decision. Which of the following steps in Ethical decision-making does it represent? a. Know the relevant laws and regulations b. Identify the problem c. Consider the possible and probable course action d. Seek consultationarrow_forwardWhich of the following is not a step in the outline for examining ethical issues? Establish the facts of the situation. Evaluate each course of action. Make a decision. Confirm decision with FASB.arrow_forwardProvide best Answer As per posible fastarrow_forward
- Which of the following statements about ethical choices and dilemmas are true, according to the text? MARK ALL THAT APPLY An ethical dilemma is defined as a situation where two or more "right" values are in conflict. Ethics can be defined in terms of individual and/or group principles, norms, and standards of conduct. Ethical choices can be considered highly personal and relative. All ethical choices are clear-cut enough that we can decide what to do rather easily because they pit "right" against "wrong." Ethical dilemmas represent conflicts in values.arrow_forwardAccording to the framework for ethical decision making, which of the following should the decision maker consider? Question 4 options: All possible alternative courses of action. The consequences associated with possible actions. Whether the rights framework would cause any course of action to be added. All of the above.arrow_forwardThe process of ethical decision making involves commitment, consciousness, and competency. Identify the choice that describes ‘consciousness” choose correct answer a.ability to collect and evaluate information and foresee potential risks b.awareness to act consistently and apply morals in everyday behavior c.ability to evaluate information and develop alternatives d.desire to do the right thing regardless of the costarrow_forward
- In his research into the components of ethical decision making, Rest raised the following issue: Assuming someone possesses sound moral reasoning skills, “Why would they ever chose the moral alternative, especially if it involves sacrificing some personal value or suffering some hardship? What motivates the selection of moral values over other values?” How does Rest’s model deal with such a question? How would you answer it from the point of view of an accounting professional?arrow_forwardPlease correct answer and don't use hand ratingarrow_forwardDescribe one professional experience in which you used evidence as the basis for decision making and one experience in which you made a decision without evidence for support. For each of the situations described, explain how the use of evidence (or the lack of it) impacted the outcome of your decision making. Be specific in terms of positive and negative impacts.arrow_forward
- Emotional self-awareness refers to understanding your own feelings, what causes them, and how they impact your thoughts and actions. It is widely known that ethical dilemmas involving other employees/managers are inherently emotional. Researchers have found that such strong negative emotions as sadness and anger influenced individuals to make less ethical decisions, and that emotional intelligent individuals were able to make ethical decisions against the biasing influence of those negative emotions. Explain how moods could influence the thought process and ethical decision making. Have you made a decision you later regretted based on your emotional response?arrow_forwardPut the following in the correct order to assess an ethical threat: i) Make a decision. ii) Consider the ethical issue and the ethical threat involved. iii)Assess the facts to understand the issue. iv)Discuss any potential safeguards to reduce the threat. None of the above ii), iii), i), iv) i), iii), ii), iv) ii), iii), i), iv) iii), ii), iv), i)arrow_forwardIn teaching about moral development, instructors often point out the threefold nature of morality: It depends on emotional development (in the form of the ability to feel guilt or shame), social development (manifested by the recognition of the group and the importance of moral behavior for the group’s existence), and cognitive development (especially the ability to adopt another’s perspective). How does this perspective of morality relate to ethical reasoning by accountants and auditors?arrow_forward
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