This blog features management consultancy cases and engagements of BS Accountancy and BSBA Finance and Management Accounting students of Carlos Hilado Memorial State College - Fortune Towne Campus, Bacolod City for Academic Year 2011-2012. Furthermore, it features Audit Cases of Management Accounting majors BSBA MA Level 3.
Sunday, November 13, 2011
Case Studies
The Apprentice of Management Consultancy is required to submit under this post 2 case analyses from the 2010 Edition book of Ms. Elenita B. Cabrera - Management Consultancy.
CASE 1: Having considered these issues, I should determine the appropriate course of action that is consistent with the fundamental principles identified. I should also weigh the consequences of each possible course of action. If the matter remains unresolved the consultant should consult with other appropriate persons within the firm or employing organization for help in obtaining resolution. If, after exhausting all relevant possibilities, the ethical conflict remains unresolved, I should, where possible, refuse to remain associated with the matter creating the conflict. I may determine that, in the circumstances, it is appropriate to withdraw from the engagement team or specific assignment, or to resign altogether from the engagement, the firm or the employing engagement.
CASE 2: After an exhaustive study, conclusion came that the President should be removed from his position. Therefore, sufficient data is to be obtained, documented and evaluated in presenting the said conclusion. And all significant matters relating to the result of the engagement are to be communicated to the client. And the consultant must have an integrity in which it imposes an obligation to be straightforward and honest in professional and business relationships. I must do the right thing. I will tell the President that he should be removed from his position and I will present to him all the evidences and data being gathered that shows he can no longer stay as a President in the company.
Case 2: I must consult to the board of directors regarding the study. They should make necessary actions to the result. The study showed that the President of the company is not capable for the improvement of the business.
Case 7: I will accept the offer. Firstly, because we say business whether we use it or not, it yields money for the company. Our business is concern about management accounting practices. And for accepting it my business is not coerce to use their products in order to us to assessment to them. As our business is dealing with developing marketing program. We are intended to so and not for the products they introducing. Lastly, we’re intended to give them proper steps that will makes their business successful.
CASE 2: If that is the case that the President should be removed from his position, so be it. Consultant should have the integrity that is free from intentional distortions and should have the ability to avoid bias and to maintain an impartial attitude and of course to maintain an independent mental attitude. KAREN S. DIONIO
CASE 7: As the owner it is not ethical for me to accept the engagement for some reasons. First, it is hard for me to assign the engagement to my consultant because I have the feeling that it is wrong for others to smoke, and of course my consultant knows that I do not smoke. Second, it is hard for me and my consultant to market the products because I don’t have the experience or I don’t want to have the experience of smoking the tobacco, although marketing tobacco can be researchable. And thirdly, I believe that tobacco is not beneficial to the clients when health is concern. KAREN S. DIONIO
Emee Rivera Case # 1 Before i accept that engagement i know my client is a large publicly held corporation, we should tell to the highest management about all the anomalies happen in their company. I think to be a policeman is not a good idea for us to make because our work only is to defined the problem and make the right decision out of it. That’s the reason why that client hire us. I think he is all the right to make an act or move to his employee’s involved that certain act. All we have to do is, what we have discover we should not put in public. Leave it to the management.
Case # 5 Mr. President before i accept this engagement, i have an integrity to maintain an independent mental attitude. For what the outcome of it. It is from my investigation not for your recommendation. All i want is fairness and free of intentional distortions or misstatements.
As a consultant If the removal of the current president is the key for the efficiency and effectiveness of the company, I will suggest that the president will be removed from its position to the Board of Directors, and then its up to the board to decide whether they will give him a second chance or totally remove him off from its position.
Case 5
The response would I make is the reverse to what the president expects and recommends to me, because the principles of "INTEGRITY AND OBJECTIVITY" must be applied in doing my job. Integrity in a way that I should be straightforward and honest in performing my services and free from influence from the inside management and being "Objective" that my work must be fair and not allow prejudice or bias.
As a junior consultant you should be honest to your findings. Be courageous enough to tell what is really going on with the company. As long as you follow the terms and conditions in the engagement letter signed by the two parties it is rightful. It is your duty and right as a consultant to keep gathered information very private and confidential. You have every right to tell or show your findings. Be confident enough as a consultant to express your recommendations regarding to the efficiency of the company.
Case 2:
If the conclusion after an exhaustive study reach to a point that the president should be removed from his position then maybe it should be implemented. First, you should approach the president regarding to your conclusion. Then cite to him your opinions or recommendations. Discuss with him the findings of your study and show him or prove him that it has a assurance or reliability. Lastly, made him realized that yes, truly, he has the problems why the company suffer. As he is the president let him decide whether he will be staying to the company or not. What is important is you do your job well with integrity.
CASE 5: As a junior consultant who is assigned to conduct a study of a top management your primarily concerned should be the strategy, structure, management and operation of the organization. As a consultant you can assist by identifying options and recommendations, providing additional resources and implementation of solutions. You should place the interests of your clients ahead for what she expects rather than to your personal interests. As a consultant you should be aware of your conducts and responsibilities to meet the clients needs.
CASE 6: With this case, as a consultant you should put in your mind the words "TO DO THE RIGHT THING". There must be an integrity and objectivity in your work. As a basic responsibility of a management consultant you should not misrepresent the facts and never subordinate judgment to others. Even though the guy is the one who signs your paycheck, you must consider your job first where your clients believe to the result of your work and where you are putting your self in risk. You should remember always the code of ethics in doing your work.
As a consultant, taking responsibility to study the top management means that any conclusions or results that you have discovered should not be revised and be instructed by any of the top management. The recommendations and/or information provided by a consultant is considered independent, objective and detached to the problems faced by the organization. You can consider the recommendations and findings by the President, but you have to make sure that it does exist, and can provide solutions to the firm's problems. But as a consultant, in every recommendations and findings you'll gonna offer, it will assist the top management in the administration of the organization.
Case 8:
Ethical in the means that he offer/suggest a related firm for higher visibility that could help in providing solutions for the problem. But , as a member of the firm that was asked, to spend approximate 10 percent of the total fee is not ethical because as a private firm, we are not obliged to pay them as suggested by the client. And unethical that he has no confidence of our firm's capabilities to solve any deficiency of the clients' firm. He should have entrusted it to us independently and it will be our responsibility to observe and make analysis to the specific problem than questioning our firms' independence, competence and integrity. The reliance of the client is a big help for analytic ability and experience in problem solution of our firm.
Case 6 Every organizations undergo several changes all the time which is a natural dynamics for the growth of the organization. So as an internal consultant, I should be independent, objective and detached to the problems faced by the organization. I must evaluate and recommend changes of the top management, including the guy who signs my paycheck according to the data that I gathered and test performed during my consultation. But, I know that there will be resentment among the management which could never be avoided when it comes to changes. So as a consultant, I will explained it to the management in a positive manner for them to understand that this changes that I recommend is for the betterment of the organization.
Case 7 As a sole owner of a management consulting practice that masters in the field of Marketing, I will accept the engagement offered by one of the major tobacco manufacturers which is a very profitable consulting contract to develop a marketing strategy. Because according to the code of ethics for management consultants, the consultants must place the interest of clients ahead of personal interests and serve the client with integrity. So, he must set aside his personal opinion about smoking. He must be professional when it comes to this situation, for business is business.
CASE 2 : After the exhaustive study that was made and come up to the conclusion that the president should be removed from his position. This conclusion is quite crucial, as the president is one of the most important person in the company but as I discovered that the president should be removed because of inappropriate doings he has done. Even though that he hired our firm but still we should be flexible, fair and true to our clients and also tour firm. I think we should discuss it to the president first if he really know what he is doing about but if he refuse to do so we should discuss it seriously to the head of the company that their president should be remove because he is not a good asset to them, also he is not following the rules, regulations and policies of the company, as well as he is not a good model to the other member of the company.
Case #2: After all the exhaustive study first thing that i should take into action is to implement preliminary measures, as to informing the president, because we cannot easily discharge the president from his position without valid and worthy reasons, then search for the more better idea than removing the president, by this the president may take his time in knowing his shortcomings and uncertainties in the company and may change it for the efficiency of the company. For all we know being a president also tells us how high the percentage of his shares in running the company. But if i have done all that can be possible in this case and no improvement with regards to the performance of the president it is better to file an appeal to the eviction of the president from his position. :)
Case #5: In this case, the instruction of the president is not in accordance with the said study that is to conduct in the top management. The president is not allowed to command what findings or result that should ne acquired. Therefore my response to the president is that we should wait for the test and studies to be fully finished and accept look for good ideas for improvement in whatever results that the top management will acquire. :0
Case 7: I will accept the engagement , because its a business .!! even though smoking is not one of the track in my life .. BUSINESS is still a BUSINESS
First, i should consider the feeling of the involve person, which the president. immediate action should take place in order for the firm to improve its efficiency. this conclusion must be reported to an external body as an enforcement or regulatory authority so that the company would benefit from it. as an analyst i should consider the factors that would help me find more ways and review it so that i could come up to an optimum solution to solve the problem of the firm. lastly, the facts and circumstances of each case need investigation by the parties concerned.
CASE 5 First, i should study the top management of the firm in order for me to come up to an optimum solution. the best response would be, the study should meet the expectations of the president. in order to meet his expectations the findings of the should have a better influence to the firm. so responding to the presidents expectation gives your company a challenging tasks because he has given condition about what would be the result that will come up later on. and because there were information that were given late, you'll have to revise some of your results to directly resolve or meet his
Maybe the president of the company is not doing great. As to what conclusion came up, i should present it to them to know that a president should be removed for the better. In this case its up to them to remove the president or take chances.
Case 5:
In this case my response would be base to what study i learned or gain. It is a study not to be instructed & directed by someone even a president. Both firm must unite for good to come up a better understanding & results because my firm would be liable to everything i studied upon.
CASE 3 As a consultant, I should tell all that I find out about the financial control system designed by the president. I must have integrity in my work and do what is right as a consultant. I will face any consequences in telling what is true, I may lost my job but then I have done something right and I stand in my principles as a consultant. And not only to myself but also to the client's and the company i'm serving.
CASE 2 The action that I should take is that I will talk to the president of the company so that he will know right away what conclusion I have arrived. We can discuss for another way to improve the company with out removing him to the position. And I will review again my exhausted study so that I can make sure of my work that I made. I must have assurance, competence and integrity in the every work that im doing.
Being a consultant of a large company you have the obligations to tell your clients that you discover fraud & other questionable management practices that is happening in their firm. So that, they have the knowledge for this, & they can make the necessary actions to solve the existing problems that might destroy their organizations.
Case 2:
In this case i will present to the board of directors about the outcome of the study that the president will remove from his position inorder that the company will improve the efficiency, its up to them if they will give a chance to the president or not.
Case 2 It is not necessary to remove the president from his position. As consultant your job is to solve the problem. Instead of removing the president it is better to give him advice to an effective company. One way of solving it is to recommend techniques and standards that are really helpful to improve company’s policies. And it should be implemented not only by the president but also by the employees of the company. Case 6 As an internal consultant you should follow the tasks assigned to you. Now a day we need to be practical. Do what is right and what is good for the company even though there are person who are in higher position involved in the problems. Apply the necessary actions to solve the problem.
case 7: Yes, I will accept the engagement. Because in practicing your profession you should not involve your personal feelings. It is very unethical to reject that offer, because of your personal feelings, after all the tobacco manufacturer is operating legally. It is also very unprofessional if you reject the offer, because of what you feel and I think the offer is very good. You must feel happy and proud instead, because of so many management consulting firms in the country you are the one chosen by one of the major tobacco manufacturers. That is one in a million and a chance in a lifetime.
case 2: I will explain the result of my exhaustive study i will be honest about it, because that is what my study shows. After all it's up to the company if they will implement my suggestions. If I will lie and don't report my true observations, what's the purpose of my consultation. My consultation is the truth, and I will deliver it to the company or to the top management of the company with reckless abandon. I think it is very unethical and unprofessional to lie about the result of your consultation, false result will just add more problems to the company and it will bring them to their downfall, so tell the truth and it will set us all free.
CASE 7 We have a law prohibiting minors to smoke specifically speaking, smoking causes as so many bad effects such as lung cancer etc. Second hand smokes are also prone to this kind of diseases. As a consultant you must first consider the pros and cons of the engagement. What is the effect and limitation of the product they are promoting? It is not ethical for you to accept the management even if it is worth a million because there are so many people who are going to be affected by that. Lastly at the end of the day it’s not really the money that counts, it’s the responsibility. As a consultant you have the obligation to protect the consumer from the product you engaging with.
CASE 4 Accept the job and go for the feasibility study at least there is fifty percent chance of selling the bonds for the propose expansion. It’s not only the feasibility that matter sometimes it’s the gut feel. People nowadays is badly need of a hospital because we have only few hospitals and most of are expensive. Go to hospitals to check their facilities and equipment to see how they are operating and based on that formulate a plan for the expansion.
CASE 5 In this CASE, I will strongly disagree, why? As a management consultant you should not be bias in the information you gathered it should be confidential. As a consultant you should also fair enough, how can you present a good, reliable recommendation if you were manipulated by the President of the company you were consulting with. A management consultant should live with integrity, trust worthy and competent this values shown a good example to the firm you are engage with.
CASE 7 YES, WHY? In this CASE the firm is asking you professional skills, if you are not a smoker best thing you can do is conduct a research, ask people who smoke the data you've gathered will be the basis of your recommendation and conclusions on how to improve their maketing strategy.
CASE 1: Being a consultant, you have to be reliable to your client. I, as the consultant, I should tell or inform my client that their company is having an illegal payments, fraud and other questionable management practices. Telling the problem as early as today is a way of recovering those problems in an earlier time and can be solve easily. I don’t have to be a policeman as well as a father confessor to let the company know that the firm has some problems. I have a right to tell it to my clients because they trusted me in discovering whatever problem the company has.
CASE 2: Yes, having a tobacco industry in the Philippines is a big opportunity to gain higher income or profit. In business, you don’t have to look the other side of it. Being a business man is risking the opportunity to have a successful firm. It is also one way of proving may self that I’m a reliable marketing consultant even though it’s against my will. It is ethical because we are engaging in a business.
case# 5 and case#7 C#5 If I were the firm I will accept the engagement, and I will do my job. Such as studying the course of the business , examining its structure and give a solution base on my study. But if the president of the company instruct me on what to do and what would be the result of my study must be on her/his side, then I will still continue my job. All thing that he/she says will never affect the reliability of my study. I will still hold on my principle that a study is always a study and what ever gonna happened my studies on company will still show the information that I get from them. then all things will be depends to president if he/she accept or reject my study.
C#7 For me, it is ethical to accept the engagement because business is still a business. I think tobacco manufacturer don't have any violations hat would result or cause to the engagement to be unethical. At the same time, accepting the engagement would benefits both parties.
Case 2: As a consultant, I prefer to take an action to president to removed from his position because of the inefficiency of his work as a president. As a consultant I prefer to take a professional actions towards the president to removed him from a company in order that the company will improve more. As a consultant I perform my assignments to develop or improve the company specifically for the solution to removed the president because of his inefficiency. As a consultant i had no fear to take an action against the president because i have an obligation as a consultant to removed whatever the result is.
Case 7: No, it is not ethical for me to accept that engagement because of a feeling that it is wrong for others to smoke. Even though they offered me a very profitable fees. I would not prefer to accept that engagement. Because of a feeling that the engagement of tobacco manufacturers may result to destroy our health. As a sole owner of my own management consulting practice. I prefer to focus on my firm to develop my good outstanding reputation.
CASE #6 Being an internal consultant, I should be independent, objective and detached to the problems faced by the organization.As an internal consultant first i will evaluate the problems that the top management is facing and it also includes the person who will sign my paycheck,and after that i will recommend the right thing to do on how to reorganized the top management to make it well functioned.
CASE # 7 As a professional consultant i will accept the engagement, even though it is unethical to my part but still business is business and i have several consultants that i can be send to that engagement to work for me and to do the marketing program that our client want us to do for them.
as a response, i will tell the president of the manufacturing firm that i cant screw the result of my study. as an independent firm, i am oblige to present an accurate, measurable, realistic, and reliable result. if i will follow the president's advise, my firm will be at risk because if the manufacturing firm will be bankrupt the external resources will blame my firm because what is stated in my results f study is different n whats happening.
case #15:
as a legal implication, Ju & Grace is responsible fr the wrong out come of the Wonder Inc. there is an engagement between the two f them that Ju & Grace will be the one to give instructions on how to operate it. they should not give the work to the newly hired employee because their knowledge on how the system work is not sufficient enough to delegate. they should also give supervision on the employee who are using it. as the computerized production system being implemented work as what it is being specialize is a big help because it can lighten the work of the firm.
Iwill tell the president what is the purpose why she hired me as their consultant if I will follow whta she expected the recommendations and findings to be. She hired me to make a study of top management to determine any causes of the problems and ineffencies, if any, in their company and to make an analysis to come up my findings to be the basis of what recommendations and conclusions I can give. I will finish my study to come up my own conclusion because that is the purpose why she enganged in my firm and it will depend on the president if she follow what my findings are. And i believe thatb she hired me because of my competence, that i have the ability and skills to define and identify their needs.
Case# 7
Ethical Behavior is "doing the right thing".
It is not ethical for me to accept the engagement because I, myself do not smoke. I believe because of my outstanding reputation in developing successful marketing programs and if I will accept the engagement more people will patronize thier product. We all know that smoking is very dangerous to our health and I don't want to see people suffering from diseases.
Case 1:Being a consultant,I should be fair to client to detect the fraud,other illegal payment as well as questionable management.I should first determine the appropriate course of action that is consistent with the fundamental principle identified.It is better to tell the client what one intends to do or not to do.If the problem is still unresolved then its time to consult the opinion of the board of director.
Case 7: I will accept the engagement although im not smoker as long as I already know my responsibilities in accepting the engagement.and as long as the intention is to contribute most success and make for equitable and comfortable client relationship.One thing to be considered or exercised in the performance of management advisory services engagement is Due Profesional Care.April May Parcia.
case 2 the action that should be taken first is that,what are the attitudes and behavior that causes the president to be one of the hindrance of the companys inefficiencies.then I will offer it to him in a nice way.In a proffessional way,he/she must accept the conclusion I have made.because what was he wants so I just did my obligations in a proffessional way without bias. He must accept it,relationship that bias or unduly influence the proffessional judgement of the management consultant should be avoided even the president himself,he is not exempted.
case 7 for me,its just fine to be a consultant of a tobacco manufacturers ,even though I dont smoke, and I feel it is wrong for other people to smoke.but then,business is business,its up to their decision to smoke.Im just doing my obligations as a consultant without prejudice. as long as I have done my work especailly in marketing and promoting this firm.I should not bring the proffession into a disrepute.
The assigned staff/s should always have sufficient supervision, especially those who are newly hired. The management should also the sufficient knowledge of the company being engaged with. And also they should have the computer expert, either they will hire it or in their own, in installation of a new Computerized Production System. The management should also determine first the possible outcome before accepting the engagement, either they are really able or capable to handle the engagement or they are not. They should always remember that in every engagement their name (JU and Grace, CPAs) and the future of the company being engaged (Wonder, Inc.) is at stake if they will not be careful or not thinking of it. And the worst was, the significant losses because of the production system were crashed, significant backlogs and loss of product sales.
CASE #5
Because the partial result of my study did not meet her expectation, I will confront her and will say “as a consultant I am working on my own or independently”. “Is there any mysterious plan that the company should know or should not?”. “Madam, I can presume that the company has the point in having us or me to conduct an engagement, for there is such thing the so called anomaly in the top management itself. And Ma’am, you should not be involve in the engagement and necessitate me to meet your expectation for the reality is not”. “I am working with Integrity, trustworthy, and competent therefore I will not let you defile me.”
CASE 7 For me, i will not accept that engagement,because in that situation as a sole owner of a firm, tobacco is a dangerous to our health and is can cause death to those people like in Southern area. Even though it can give me a large profit, but still my concern is in the health of those people.
CASE 10
1. Leo is the one affected because he is the one who gain expenses. 2. Yes, because Leo has a right to reimburse his expenses. 3. Yes because he is also a consultant. 4. For me. I will not ask for reimbursement, because the expenses is not important. What is important is that the learning and experience that I will gain or absorb. 5. I will thank him.
In their case, I was given the opportunity to scan the business and its organizational structure of the company, if ever the president should be remove from his position, I will make the necessary steps and all my best to do the work well done even it can result for the removal of the president. It is the only way to improve the efficiency of the company, I will take the risks of removing the president from his position.
CASE 7
In this case, I will accept the engagement because it is very profitable and only thinking about practicality. Because my Priority of putting up a business is to gain a profit. But I will make sure that the tobacco will not have a higher impact to the health of my customer. I will also consider the health of my customer.
As an owner of management consulting firm in Marketing field, I would accept the engagement. To be a professional means dealing with it in a professional way. Accepting it doesn’t mean to withheld the truth, anyways the truth about smoking isn’t a secret anymore. Being responsible enough, finding a right a good and right strategy is what I have to do. In business, professionalism coupled with sense of responsibility is the most important.
Case 2:
If I have done an exhausted study which shows and recommends the removal of the President, I might let the board know it. I will explain to them on how I have came up into that study, because it is my duty to tell the truth and not withhold it. The members of BOD will have the say. The President do have the right to know about the recommendations and the opinions I have came up with, with that he would be aware and might decide to be more efficient and effective or would just leave the company and let the BOD decide.
Case 1 My response to this comment is that as a professional he should respect the confidentiality of information acquired as a result of professional and business relationship and should not disclose any such information to third parties without proper and specific authority unless there is legal or professional right or duty to disclose. Confidential information should not be used for personal advantage of the professional accountants or third parties who accidentally open a confidential information. Professional accountants should maintain e confidentiality of information in social environment. We should set a meeting and discuss about the clients confidential information that has been completely open. You ensure that the staff under the accountant control and persons for whom the advise and assistance is obtain respect the professional accountants duty of confidentiality.
Case 2 As a part of the company we should undergo to a very sensitive decision to make an overall policy study of the business and the organizational structure to determine actions that would improve the efficiency of the firm. The president should comply with relevant laws and regulations and should avoid any action that discredits the profession. In promoting themselves and their work, professional accountants should not bring the profession into disrepute. President should be honest and truthful to his work as a leader of the firm. The president is maybe good in different aspects of the firm.
The comment of junior consultant is right and it's based on her observation during the course of engagement with the company, due to professionalism to maintain a professional business relationship with the client,the first action to be taken is to present the problems and recommend an optimum solution to the board of directors. Consultants are hired as a fault finder and rectifier and must be guided by the agreement stipulated in the engagement.
case 2
If this is the case, the first action that I should take is that I will directly present this problem to the president itself, give him a chance to rationalize his past performance. After doing so, I will make a recommendation and present it directly to the board of directors and it is to their level to decide whether they will remove the president or give him another chance to prove himself that he's still capable of keeping his position.
After an exhaustive study, being an ethical consultant you cannot easily removed the president from his position. a president has a great contribution or role in a company. With you can implement some systems to be followed. In your study you may present it to the board of directors of what they may contribute to that problem.
case 7
As an owner of the management consulting practice and a specialist in the field of marketing, i will accept the consulting contract, so as it is profitable. On that as a consultant i will set aside my personal feelings and opinions about smoking. Placing an interest of clients ahead of my personal interest.
As a consultant, I am guided by the standards on how to perform accordingly. One of which I shall violate if I follow what the president have instructed is personal characteristics-that a practitioner must act with integrity and objectivity and be independent in mental attitude. I must see to it that my findings and recommendations are free of intentional distortions or misstatements. I shall also take all matters free from bias and personal involvement so as to avoid impairment of public confidence in my profession. Therefore, it is but just and appropriate to say that all my findings regarding the engagement will be based on factual, reliable and unbiased information. Taking the president's instruction will just impair my profession especially the result is unfavorable on his company.
CASE 4
My judgment at this engagement is critical. A lot of matters shall be given enough considerations, but then, in order to serve my client the best way I can while maintaining my professional competence and attitude, i shall go for a fair and truthful dealings. This way, they shall know what are the consequence if ever they pursue their plan of constructing a new wing. i shall be honest and straightforward enough to tell him the real matter even if it will cost my engagement job with them. I shall not compromise my professional or business judgment because of my bias and conflicting interest.
In this case maybe the president, he had done something wrong to the company because after an exhausted study, why the consultant removed the president? But before anything else the consultant should be detailed the formality of documentation will vary according to the nature and scope of the engagement. The documentation should demonstrate that the due care has been exercised. It should record as appropriate an evidential matter and its source, the alternatives considered and the analytical process leading to specific recommendation.
Case 5
In this case, the president can’t instruct me, it I my decision followed. I will continue my studies of top management even though he instructed me to what expected the recommendations and findings to be. If I come up with the conclusion, that the result of my studies are reliable, efficiency and independent I can give a positive conclusion in the my studies but if I will come up with the result of a negative conclusion, like I found out that there is inefficiencies, fraud or mistakes at their top management. I will conclude a negative recommendation or feedbacks about their top management.
The firm is employ by the president of the company, after an exhausted study the consultant come up to a conclusion that the president should be removed from his position. It would be noted that before the happening of the engagement, the scope and limitation has been conveyed, the same as through the manner of expressing the consultant recommendation and suggestion. The case is, what are the action we should take into consideration. Apparently, we could not jump into a certain conclusion without going further into deep investigation. On my opinion, the consultant should dig deeper information and evidences that would proved that their conclusion was is correct. But in any case, that the company will not accept, and then it’s all up to them. What is important is the consultants are doing their job well and without malice to everyone who is concern
case 3
One of the qualifications of the consultant is being independent. They are hired to make various recommendations and that should be implemented towards the company. In this case if it is happen that the consultant’s independence will be impaired, then I would suggest that he will abstain from his job. But if he his courageous enough and sure by himself that he can do his job rightly, then he may as long as he could maintain the sense of integrity. The consultant should make valuable recommendation that will convince that his recommendation could benefited more than before. Most of all the consultant should not after the salary he could compensate but foremost he should consider the service he could provide is efficient.
case 2 In this case,I will call the attention of the president and and explain to him the results of the exhaustive study. I will talk to him in a nice way of course so that he can't be insulted. In this regard, he is aware of everything he acts in order for him to realized his weaknesses so that if ever he can work to another company he can improve his work. and if possible he can have an efficient result of management.
case 10 In this case, Leo is a junior consultant at a medium sized management consultancy firm. From this situation, the consultancy firm and the two clients are the parties that are directly affected in this ethical dilemma. I think Leo's decision to reimbursed those expenses will not affect the image of the consultancy firm as long it will result a good companion to the city. I think Leo's decision it will not affect to the other consultant because it will depend to the consultants. If I were Leo as a consultant and for the benefit of the firm I will go over to my decision and never mind other business. If both clients paid P1,400 for my expenses with no action on my part, I will represent my self to return the excess of P1,400.
case 2 In this case,I will call the attention of the president and and explain to him the results of the exhaustive study. I will talk to him in a nice way of course so that he can't be insulted. In this regard, he is aware of everything he acts in order for him to realized his weaknesses so that if ever he can work to another company he can improve his work. and if possible he can have an efficient result of management.
case 10 In this case, Leo is a junior consultant at a medium sized management consultancy firm. From this situation, the consultancy firm and the two clients are the parties that are directly affected in this ethical dilemma. I think Leo's decision to reimbursed those expenses will not affect the image of the consultancy firm as long it will result a good companion to the city. I think Leo's decision it will not affect to the other consultant because it will depend to the consultants. If I were Leo as a consultant and for the benefit of the firm I will go over to my decision and never mind other business. If both clients paid P1,400 for my expenses with no action on my part, I will represent my self to return the excess of P1,400.
case 2 As a consultant, he is possess with different ability, special knowledge and skill that make him worthy as consultant. I will present my study to the top management, according to what i had observe. i should consider also the position of the president. I will not judge him according to his act, but also to listen what his on side. After all the decision will be based on the top management. But as a consultant i make sure that i have done my duties in an ethical way.
case5
In this case, as a consultant im getting paid for the service i had rendered with the company. So i will not let the president told me what should decision should i agreed. whatever the conclusions, and recommendations i had come up with my study, then that would it be. after all the come up with my study is for the best of the company.
As a professional accountant, I should act with integrity, objectivity, and be independent in mental attitude at all times when making an engagement. I should be fair and truthful with my reports without any association with reports or information that might be misleading. The president's recommendation regarding the conclusion tantamount to undue influence which is a threat to independence. I would not follow his instructions so as not to compromise my professional judgment. This type of situation should be avoided and that I must issue a conclusion/recommendation that is really objective and truthful.
Case 7
Since I'm the owner of my own management consulting firm and I think that it is not unethical. I must be objective at all times and not be affected by my prejudices like smoking. I'm not the only one involved in this process but also my consultants who are working for me. Considering these factors are important because of the consequences that might arise for every course of action I take. To sum it up, There must be no bias involved and that the offer can be accepted because it did not affect my integrity and competence.
In this case, as a management consultant you should bear in mind the primary goal of the engagement and that is to improve client's condition. Under the circumstances, there exist a conflict of interest between the president and the dissenting shareholder. The consultant should take the necessary steps in solving the conflict through referring to the fundamental principles to have an idea on what action to take. You can ask for help from the people in-charge of the governance like the BOD or Audit committee. On the other hand, the report of the consultant should reflect the honest result of the engagement even if the president will be upset because it is of primary objective of the consultant to help improve the firm's system.
Case 4
As consultant, the standard require you to have personal attributes such as integrity,independence in mental attitude and objectivity. Objectivity dictates that you should avoid bias and maintain impartial attitude in all matters under review. Even if the project seems to be profitable, you should be honest with the result. Integrity dictates that recommendation should be made free of intentional distortion and misstatements just to reflect what the company wants regarding his business. Finally, you should have independence in mental attitude, as this is your obligation to the client in order to avoid impairment of public confidence in the profession.
Case #2: After all the exhaustive study first thing that i should take into action is to implement preliminary measures, as to informing the president, because we cannot easily discharge the president from his position without valid and worthy reasons, then search for the more better idea than removing the president, by this the president may take his time in knowing his shortcomings and uncertainties in the company and may change it for the efficiency of the company. For all we know being a president also tells us how high the percentage of his shares in running the company. But if i have done all that can be possible in this case and no improvement with regards to the performance of the president it is better to file an appeal to the eviction of the president from his position. :)
Case #5: In this case, the instruction of the president is not in accordance with the said study that is to conduct in the top management. The president is not allowed to command what findings or result that should ne acquired. Therefore my response to the president is that we should wait for the test and studies to be fully finished and accept look for good ideas for improvement in whatever results that the top management will acquire. :0 @nov.14 :)
In my own point of view it is not ethical to accept this kind of engagement because we all know that tobacco is really harmful. And how can you convince other people to buy the product if you yourself do not smoke. You should be honest and truthful and you should not make exaggerated claims for the service they are able to offer, the qualifications they possess or experience they have gained. You should weigh the consequence with each possible course of action in order to perform ethical requirement needed in the engagement.
Case 4
In this case,it should not accept the offer because in the first place you are not hired to study the case given by the hospital because they already had the decision to make an extension for the hospital. Your purpose for being hired is that to help the hospital sell the bonds because of your good reputation. In this situation, you are required to use the principle of objectivity that you should not allow bias, conflict of interest or undue influence of others to override professional or business judgment.
CASE 1: A professional accountant should not be associated with reports containing materially false or misleading statements. As consultant,they are required to provide a modified report in respect of a matter contained in paragraph 110.2. Being a consultant, he must possess integrity in doing his work, so he has the right to inform the management that something wrong going on in the company and this can ruin the reputation of both the corporation and the practitioner. A professional accountant should avoid any action that discredit the profession. However confidentiality must remain even in social environment.
Case 5: As to standard no. 5 before undertaking an engagement, a practitioner is to inform his client of all significant matter related to the engagement including its objective and scope. So from the time the CPA accepted the engagement and he began working with it he will be fully responsible in the manner wherein he can develop sufficient conclusion and recommendation without intervention of the president. Provided that the CPA practice integrity, objectivity, and independence during the engagment. Otherwise the president of the management intervenes with the recommendation,findings, and conclusion as the completion of the CPA’s study draws near, some of the ethical standard will be violated such as objectivity. A professional accountant should not allow bias, conflict of interest or undue influence of others to override professional and business judgment.
case 2... eventhough the president is the one who employed to make an overall policy study of the business I should think to do what is right because I found out that the president is inefficient in running a business therefore he must be removed from his position although he had the power and authority.But despite there a lot more deserving people in the said position. I should take an action by writing an appeal with proof and instances that showed him that he is inefficient.But it is easy as removing a president in a company ther is a due process,in case it will not be approved by the majority of the board of members I just take an opportunity to suggest an ideas that can help him to develop wherein he is inefficient in a respectful way...!!!!
case 7.... i should not accept because although i am expert in marketing,but the problem asked ethical behavior or value.Stated in the problem that he doesnt smoke,and smoking is not good to your health so I will stand with my own perceptions which refer to ethics..In the other hand accepting an offer in that company will give big help financially,and where I can practice and develop my expertise in marketing.Likewise the company will receive more benefits too,in terms of my performance if I will accept the offer which is to work with their company.In the contrary,despite how much benefits and advantage will I received I will not accept the offer...thats it!!!!
Case 2 You were hired by a Corporation to improve the efficiency of its operation. Therefore, you have to give them the results of your studies. Whether it shows danger to the one hiring you. In this case, the President himself is in danger of being removed from his position, you are still oblige to give him the results and the proposed recommendations.
Case 7 It is not ethical to accept the engagement knowing that you are against to the company’s business. You do not have the same interest. You might follow procedures which are not in relevance with the interest of the Corporation. This might resulted to a poor marketing program. Aside from theses facts, the engagement might give bad impression to your own firm, knowing that you are well-known to your field as a good performer.
No, it’s not ethical for the consultant to accept the engagement because accepting such engagement with the tobacco manufacturing against your will would give a problem in regards with the ethics. The consultant will have a hard time on how to deal with the client because of the conflict of interests. The consultant will also have the problem in applying the fundamental principles with regards to the issue of clients. The consultant and the management must not have a conflict of interest with regardsto the proposed engagement. So, themanagement consultant must not accept the engagement.
Case 5
Being a consultant, integrity is very important, that all accountants bestraightforward and honest in professional and business relationship. The consultant must not accept what had the president desires him to do. He must have a conclusion of his own and not depend from the given one of the president. Objectivity is alsoapplicable in this case that the consultant should not allow bias or undue influence of others to override professional business judgment. He must have integrity and objectivity throughout his works.
As a consultant, I will do things on my own. I will make the president's expectations as the basis of my conclusion, but if I find my conclusion to be more advanced, convenient and beneficial on our part, I will stick to what I believe. His instructions can help me in my study but I must have this independence in order for me to create conclusions without bias. In fact, because I’m in-charge here, my reputation as a consultant lies on these studies and conclusions that I will be giving to the president. So therefore, my action to this instruction are only for the basis of my conclusion.
Case 4
As our firm has an outstanding reputation, we will not accept this engagement because of the 50% chance and negative outcome. Since the hospital is pursuing our firm to help them sell their bonds, but we will not take the risk because in our study, negative outcome would result if we continue it. Even this project is very profitable, our firm’s reputation lies on this project. There’s only low probability that this project would be successful. So our decision is not to pursue this engagement.
i would tell the president that, according to my study, he should be removed from his position in order to improve their company's efficiency. in this way, he would be aware and could make improvements to himself if he wants to retain his position. if he wants to stay, he should follow the standards that were set to improve their company. i would explain to him that the results have bases and are out of my exhaustive study. this is only a suggestion and it would be up to him if he would accept it or not.
CASE 7
for me, it is unethical to accept the engagement. it is because, the welfare of my follow is more important than business. i personally dislike smoking and i know that it is not good for our health. for me, it is not right to market smoking and encourage people to smoke. tobacco manufacturers are not the only client in consulting practice, that even if you won't accept the engagement with them you can still have more clients from different industries. if you'll just maintain or improve your firm's reputation, you can still have more clients and engagements.
Case 2 I will tell the president that one of the actions that should be taken to improve efficiency is to removed him from his position. It is according to my exhaustive study and not just by mere observation. However, this instance will motivate the President for this will serve as a challenge to him to improve his way of managing the company. As a consultant, I don’t have the right in removing somebody in his position. My task is just to recommend ideas that are useful in improving the efficiency of the company.
Case 5 A practitioner must act with integrity and objectivity and be independent in mental attitude. He/She must not be dictated by anyone in formulating his/her conclusions. All findings must be true and relevant data should be obtained, documented and evaluated in developing conclusions and recommendations. I will tell the President that the conclusions I made is based on my studies and should not only be dictated by anyone. Whether the result is beneficial or disadvantageous, it should be communicated to the management.
Case 2 Being a management consultant that pay and trusted by the company, I will do my job what I think is right and best in the operation of the company, it is right that I will go to the board of the director to submit the result of my consultation. The board of the director is the one who decide whether he removed the president from his position. Case 7 I think it is better not to accept the engagement, even though it is offered a very high profitability. Because as a consultant you are not consider only the income but you also consider first the specialties of service that we offered is on marketing not manufacturing. Second the willingness to work in that particular business, it is because if will do the job because it is needed not because we like we cannot cope up a best result that the company will expect. I believe that no matter how much the income or the profit we can get, the matter is we enjoy and love our work and also in serving our clients.
case#3Professional skepticism would tell you not to tolerate this kind of situation. Money is not merely the main concern here. Accepting the engagement with integrity, and credibility will be the main reason of engaging on it. Although the client was profitable still you are using your name on it. You are just doing what is right and proper.Many are being dependent on your work.
case #4 being the consultant of the said hospital and because of the reputation i had i preferred to be keen and consider the following; of such prevailing quorum and as far as professionalism concerned probably the thing is weigh the situation before accepting the engagement;because you are already aware of such previous study done and the reason only for getting you is just your name to use it as a financing way the its up to you to think of it;and because as far as consultancy concerned being ethical is the important thing that matters. As far as profitability concerned well then its not the big thing to be considered. What is important is the credibility you've shown.
Indeed, as consultant acquires tremendous growth and prosperity, various problems and issues being faced continues to grow and develop. As what my ethical views is concerned, I will not accept the engagement. For personally, my conscience keeps on murmuring that it is wrong to smoke, so dangerous and a threat in one's body. As what the author suggested that in cases of ambiguous situations, as a responsible individual, I must always "do the right thing , for we can't do much better than consistently try to do the right thing." That is, being brave enough to perform things in the right perspective.
A professional accountant should respect the confidentiality of information acquired. In this case, the junior consultant is quiet right that you, the consultant may tell what is right and wrong. You should confront the illegalities of the client but it is unethical for the consultants to disclose outside the firm the information acquired. They are also prohibited to use this information to their personal advantage or the advantage of competitors. But there is a professional duty or right to disclose the information when the client is doing practices that are against the law.
Case No. 7 Yes, I will accept the engagement. Even if I don't smoke and i know that it is wrong to other people to smoke,i will still accept the offer since it is my job as a consultant. As a consultant of the said firm, i must be open-minded and always be ready in every cases that I'll be handling. I should always bear in mind that those responsibilities is already attached from the time i chose the path of being a consultant. If im going to refused this offer it may lead a bad reputation to the firm where I'm working right now.
Case No. 5 If my firm is engaged to a manufacturing firm to make a study of the top management I will not allow the president to instruct me of what she expected the recommendations and findings to be. As a consultant of that firm, the result of my study must be reliable.It must be fair so that all my recommendations will be a useful tool to the betterment of the company. If i will listen to all of his instructions,my stucdy will be then useless.as a consultant i must be independent in many ways.
As a consultant my decision should not be influence by any of the members 0r employee of the company. The findings and recommendation that I will give to the management should have the reliability and fairly presented. As a consultant i have the image to show them that I'm credible enough to manage the firm.
As a professional consultant I will not accept the engagement of the firm because for me it is unethical. I know that through my marketing strategy on endorsing their tobacco it will harm the health of the people.
Congratulations Apprentice!!! Good Job. You earned extra points. For those who failed, time wasted is points wasted. As I have said, "If others can do it, why can't you?"
Case 7 It is not ethical because tobacco is bad in our health. Even though the manufacturer offer profitable contract. It is not good as to the record in your company, because you are holding the reputation and the name of your company. As an owner you have to stand in your own into what is right or wrong. Just look for another client that can’t affect to your reputation and use your service to help also other people.
Case 2 It’s an opportunity in our firm to choose to make a study and it is our duty and responsibility to give advices in our client n how to organize, improved their business efficiency and profiablity. I will ask a permission to talk to the president in a nice way that he/she is not fit to its position. Also to inform the board of directors that was the result to what we have studied in their organization.
A professional accountant I should take steps to ensure that those working under professional accountant authority in professional capacity have appropriate training and supervision.I do my job as an accountant and not the president expectation. A professional accountant should also maintain confidentiality of information disclosed by a prospective client or employee.
Case 7;
No because as a professional accountant, I should comply with relevant laws and regulations and I should avoid any action that discredits my profession. I do the right thing, I can't do much better than consistently try to do the right thing.
Given this situation, I will review the conflict problem with my immediate superior. If the problem is not resolved with my immediate superior, i should be determine to go to the next higher managerial level, the immediate superior must be notified with the decision. Furthermore, I should seek counseling advice on a confidential basis with an independent advisor or the applicable professional accountancy body or regulatory body in order for me to obtain an understanding of possible courses of action. I should be conscious of and be alert to factors which may burn up the said conflict of interest.
Case #5
I would inform the president of the manufacturing firm that as a professional accountant, We are bounded to perform professional services in accordance with the relevant technical and professional standards. In addition, it is my duty to carry out with care and skill the instructions of the client or employer insofar as they are compatible with the requirements of integrity, objectivity and other fundamental principles. And if this is the case, it would earn an unobjectivity on my part, therefore risking my credibility if i am going to pursue his personal recommendation on the outcome of the possible conclusion that may come out. One of the fundamental principles state that a professional accountant should be fair and should not allow prejudice or bias, conflict of interest or influence of others override objectivity.
I will present my study to the top management, according to what i had observe. i should consider also the position of the president. I will not judge him according to his act, but also to listen what his on side. After all the decision will be based on the top management. But as a consultant i make sure that i have done my duties in an ethical way.
case7:
It is not good as to the record in your company, because you are holding the reputation and the name of your company. As an owner you have to stand in your own into what is right or wrong. Just look for another client that can’t affect to your reputation and use your service to help also other people.
I will tell the president that i saw some antiquate data in the shareholders annual report. And as a consultant, I have the right to advise them, what is the right action should they they do. I will talk the president sincerely about what he's doing is wrong. And it wasn't right that he persuade the board of directors to discharge me because of that particular reason. I will tell of what i think is right, and if he didn't agree with me that will be the reason that I ask for a resignation so that there's no need to discharge me..
Case 7
It is unethical for me to accept the engagement. As a concerned citizen of the Philippines, I should protect my environment and my fellowmen, by not smoking and also not to accept the engagement. I don't want to be a hypocrite person, because personally i don't smoke that's why I didn't accept the engagement that manufacture tobacco made for cigarettes. It is useless for me to gain more profit that come in a wrong way of doing a business. And as a business minded person I just follow the ethical behavior in doing a business. It's good enough for me to earn even though a small amount but having a clean conscience.
Case 4 I will accept the job, I will take the risk to help them to sell the bonds, because the 50 percent chance to go on the expansion is reliable enough to continue the project. I will help them to sell the bonds on higher amount to gain higher profit. I will give them some strategies and procedures to sell the bonds that will give them a high profit. I will develop and give them the correct process to sell the bonds. I will take the risk even though there are some problems that may occur because the higher the risk the higher the return. Case 5 I will tell the president that I already made the recommendations and the findings on the said projects according to what he expected. But the conclusion of the study must be made by all who is involve because maybe my conclusion is not the same to others. The opinions and comments of others must be gathered in order to formulate a better and non-bias decision. Even his opinion as a president is needed, and it must be given a time to have a brain storming to this final conclusion. Two heads is better than one, so I will recommend to the president to have a meeting on this matter to have a fair, correct and reliable conclusion.
As a consultant it is your duty to create value, maximizing growth and improve performance of your Client. It is your responsibility to right the wrong things, improve the moral values and credibility of the Company. If this is your comment you are not reliable and competent enough to perform this project. Although some of the information is confidential but you have to take an actions for the illegal activities done by the Company. Be a good raw model to your fellow consultants.
Case 2 After making a conclusion that the president should removes in his position, I have to make now a decision regarding to that matter. I have to communicate to all the people involves in making decision to present m alternatives and what should be done. After that I have to take an action in letting people know the decision and what is expected on them. I have to evaluate if it is important enough to removed the president in his position, if the people strongly believe that their President has the capability to improve and develop his skills then, I have to provide an opportunity to use whatever learning for the future in a positive way. I have to evaluate what are the things need to be done by the President to increase his performance base on the comment and suggestions of the people involve in decision making. and add more information to strengthen their policy in effective and efficient manner. And lastly, I have to communicate my final report to the President and explain briefly, accurately and in a positive manner so that he or she can move onto something.
CASE 1 AS A CONSULTANT, WE HAVE A DUTY TO MAINTAIN PROFESSIONAL KNOWLEGDE AND SKILL AT THE LEVEL REQUIRED ENSURING CLIENT’S RECEIVE A PROFFESSIONAL SERVICE. WE MAY HAVE DISCOVERED FRAUD IN THE SAID FIRM; IT WILL REMAIN ITS CONFIDENTIALITY. WE MAY SEEK ADVICE TO SOME LEGAL COUNSEL FOR REORGANIZING THE ACCOUNTS. THE MOST ETHICAL WAY IS TO COMMUNICATE TO THE MANAGEMENT REGARDING OF THE FRAUD AND UNETHICAL ISSUES ABOUT THEM. IT IS RIGHT THAT WE WILL HAVE AN ACTION BY DOING THINGS RIGHT.
CASE 7 BUSINESS WOULD MEAN BUSINESS BUT STILL IF I BELIEVE IN ONE PRINCIPLE WHICH IS RIGHT THEN I WOULD DECIDE NOT TO ENGAGE WITH THE SAID ENGAGEMENT. THIS WILL JUST RUIN MY REPUTATION. IT IS HIGHLY GOOD BECAUSE OF THE PROFIT IT WILL BRING BUT THE PEOPLE AROUND ME WILL SUFFER BECAUSE IT IS NOT GOOD FOR THEIR HEALTH. ALTHOUGH IT IS A GREAT OPPORTUNITY FOR MY FIRM BUT IT WILL JUST HIT MY CONSCIENCE BACK. BY REJECTING THE PROJECT, MANY PEOPLE WILL BE AT PEACE.
In this case, I will do what I think is right. An that is I have to follow what have the president instructed to me. Provided that that whatever her expectations, findings and recommendation are will coincide with mine. With that we could have a better relationship with each other. And also to be more useful to us and with the firm.
Case 7
No, it is unethical to accept the engagement being offered. It is because I don't think that it would be the right thing to do. Yes, I have to hold the expectations of the people for the past few engagements that has been successful. But I also have to consider the fact that it would be affect the lives of its possible users. To think that success is not the key to happiness, but happiness is the key to success. So do if you love what you are doing, you will be successful.
Case 5 As the said agreement that the firm should analyze how the system gone in the top management including the President. I think, the President is not necessary to give suggestions regarding how it would be the findings or the result of the process. Supposedly, the firm has been hired for the consultation so the firm would suggest what to be implemented. What for any consultation if they don't follow their consultants suggestions towards the system. Better have an agreement between the company and the consulting firm for the improvement of the system.
Case 8 I think I would not accept this proposal for the reason that the city is a medium-sized. For having a 10 % of the total fee that would spend for the organization, of course! It would lower a specific fund for the firm. It will be a nice idea to ask consultant whether this proposal os a practical way to higher ytour visibilty on a firm. But if think theres a guarantee that it will give a benefot for the firm then so be it. Actually, a 10% expenditure would not be realized for the success after the proposed program would be achieved.
JENELYN FUENTES FMA IV-A Case 2 Professional top improve efficiency people or workers of the entire organizations as well as firms should how one mind and soul towards their effective goal. They should arrive at before the time of working hours. Improve self-esteem and relationships to co-workers and maximize the works. After the exhausted study if the president have the right to remain and given the chance to explain to the company. He should be given the authority to fight for his rights and explain his part. It’s all about the BOD to continue or conclude to remove the president
Case 5 I will tell the president that I already made the recommendations and the findings on the said projects according to what he expected. But the conclusion of the study must be made by all who is involved because maybe my conclusion is not the same to others. For we are engaged to make recommendations and conclusions out of the study and not out of the instruction of the president of the manufacturing firm that we are studying. I should make the conclusions out of the study.
If I discover illegal payments, fraud and other questionable management practices, I will wish to obtain professional advice from the relevant professional body or legal advisors, and thereby obtain guidance on ethical issues without breaching confidentiality. Being a consultant I will determine the appropriate course of action that is consistent with their problems. I will tell to my junior consultant that we need to respect the confidentiality of what happening on the organization. I will consult also to those who charged with the governance of the organization, such as the board of directors or the audit committee.
Case 8
I will accept this arrangement because through this evaluation program for all employees, it will help them to improve their work effectively and efficiently. Not because to the fees that they will extend to us but the duty of being a consultant is to accept any engagements but it must be in ethical behavior. Having a little knowledge in the firm, it will help us to do our job easy. And being a consultant I should not allow bias, conflict of interest or undue influence of others to override professional or business judgments.
In this case, conflict arises between my firm and my client because base on the relevant data gathered, the results shows that the president should be removed from his position. The reports made by team should be responsive to the objectives and scope of the engagement. Thus, as a consultant, it is my duty to act in the public interest and not exclusively to satisfy the interest of my client alone. I may also consider consulting with the board of director or the audit committee, or if this conflict cannot be resolved, I may wish to obtain professional advice from the relevant professional body or legal advisors without breaching confidentiality. And if after all, the conflict remains unresolved, it is appropriate to resign from the employing organization.
CASE NO.5
The president’s act clearly shows how he wanted to impair and mislead my study which is a very unethical and a BIG NO in doing my responsibility. As a professional accountant, it is my obligation to act with integrity and objectivity and of course be independent in mental attitude. Thus, I must communicate the results on my study especially the recommendations and findings fairly without false or misleading statements. I should not allow bias, conflict of interest or undue influence of others even the president who hired me just to override and satisfy his personal interest. But I still have the option to withdraw if conditions develop and it will interfere with the successful conduct of my study.
Case 4 Having a consulting firm that has an outstanding reputation in conducting feasibility study, I would not accept any engagement that can destroy such good reputation. Before accepting an engagement you need to see to it that you discuss thoroughly to your clients your duties and obligations regarding the study. As a well operating firm, you must conduct a study which is accurate and reliable with supporting information. Whatever the results of the study you will make conclusions and recommendations from it which is appropriate for the goodness of the company even if it is not the one the company feels and assumes to be.
Case 5 My appropriate response to the president would be: “With all you respect Sir, our duties is to conduct a study with integrity, competence and objectivity. So whatever the findings and recommendations we can get to make certain conclusions about the top management it must be accurate and reliable. So if you don’t agree with me we are willing to withdraw from the engagement because what you are instructing me to do can impaired our firm integrity and objectivity so whether you like it or not, I cannot alter and change whatever the results of the study may be. It is for the own good and success of your company.”
Case 2 As the consultant I recommend that the overall policy of company and its organizational structure is more effective and efficient if the currently president of the company should remove to his position. After this exhaustive study, I will say right away to the president the conclusion that I arrived is based on the sources that I’ve studied with sufficient relevant data and with integrity and objectivity and also an independent mental attitude.
Case 6 As an internal consultant of the company, I recommend that it must be change management although the person involve here is the guy who signs my paycheck. But the knowledge of knowing that you have contributed to an organization’s positive change of operations can be very fulfilling. So as an internal consultant I suggest appointing an external management consultant to make my recommendation and evaluation more reliable and with integrity.
Case 1 My response to this comment is that as a professional he should respect the confidentiality of information acquired as a result of professional and business relationship and should not disclose any such information to third parties without proper and specific authority unless there is legal or professional right or duty to disclose. Confidential information should not be used for personal advantage of the professional accountants or third parties who accidentally open a confidential information. Professional accountants should maintain e confidentiality of information in social environment. We should set a meeting and discuss about the clients confidential information that has been completely open. You ensure that the staff under the accountant control and persons for whom the advise and assistance is obtain respect the professional accountants duty of confidentiality.
Case 2 As a part of the company we should undergo to a very sensitive decision to make an overall policy study of the business and the organizational structure to determine actions that would improve the efficiency of the firm. The president should comply with relevant laws and regulations and should avoid any action that discredits the profession. In promoting themselves and their work, professional accountants should not bring the profession into disrepute. President should be honest and truthful to his work as a leader of the firm. The president is maybe good in different aspects of the firm.
The Code of Ethics for Professional Accountants in the Philippines Relevant to Management Consultancy, speaks of the principle of objectivity which reveals that bias, conflict of interest or undue influence should not be allowed to override any professional or business judgement. In this case, my firm will never allow the president to influence my judgement pertaining to a study of top management. For it is certain that unduly influence or bias that could influence the professional judgement must avoided. Clearly, in this situation I will never allow him to impair my objectivity. So, I will never ever compromise my professional judgement.
Case 6 Having consider this issues, a professional accountant should determine the appropriate course of action that is consistent. The professional accountant should also weigh the consequences of each possible course of action. If the matter remains unresolved, the professional accountant should consult with other appropriate persons within the firm or employing organizations for help in obtaining resolution. If the matters involves a conflict with or within, an organization, a professional accountant should also consider consulting with those charged with governance such as board of directors or audit committee.
Case 7 It depends on the sole owner of the management to accept or not the engagement, because a professional accountant should be honest and truthful in terms of marketing and promoting themselves into work. Professional accountant should not bring the profession into disrepute. A professional accountant should consider the advantages and disadvantages of the recently offered contract and the effect to the people who are willing to buy the product.
Jance Poblador FMA 4C Case 2 The action should i take is to tell the management that the president is not efficient to handle this firm. Because I see the evidence that he is not the one to improve the efficiency of the firm. He must be fire out. He must need to comply to the professional accountant because this professional accountant is entitled to prior experiences acquired.
Case 7 If I were the sole owner of my own management consulting practice I will accept the engagement. Tobacco is the major selling in the business. Most people in this country are smoking. So, I gain more profit,Investors, Investment. I will not mind that i'm not smoking but for the sake of my business.
case 5: I highly recommend to the top management that improved competitive position. In manufacturing firm it is better to undergo significant transformation. manufacturing firms should posses more innovative in both new processing technologies and administrative practice. An aggressive manufacturing technology policy can make a big difference in this study.
Case 15 The possible implications of this study is to adopt a competitive accounting system. The management must prefer to have a critical thinking about this problem. She must improved her skills to come up the good idea. It is better that the management will provide a management advisory and consulting services.
case study#8 Yes, it is ethical because in evaluating compliance with the fundamental principles, a professional accountant maybe required to resolve a conflict in the application of fundamental principle. And there are relevant facts ethical issues involve, fundamental principles related to the matter in question established internal procedures and alternative source of action. It maybe in the best interest of the professional accountant to document the substance of the issue and details of any discussion held or decision taken, concerning that issue.
case # 5 My response make some sufficient relevant data to be obtained, documented, and evaluated in developing conclusion and recommendation. The source of reliability of the data and any limitations with respect thereto must be considered in formulating conclusion. All significant matters relating to the results of the engagement are to be communicated to the clients. A professional accountant should make clients employers or other users of the professional services aware of limitations inherent in the services to avoid the misinterpretation of an expression of opinion as an assertion of fact. Diligence encompasses the responsibility to act in accordance with the requirements of an assignments carefully, totally and on a timely basis.
CASE 1:
ReplyDeleteHaving considered these issues, I should determine the appropriate course of action that is consistent with the fundamental principles identified. I should also weigh the consequences of each possible course of action. If the matter remains unresolved the consultant should consult with other appropriate persons within the firm or employing organization for help in obtaining resolution. If, after exhausting all relevant possibilities, the ethical conflict remains unresolved, I should, where possible, refuse to remain associated with the matter creating the conflict. I may determine that, in the circumstances, it is appropriate to withdraw from the engagement team or specific assignment, or to resign altogether from the engagement, the firm or the employing engagement.
CASE 2:
After an exhaustive study, conclusion came that the President should be removed from his position. Therefore, sufficient data is to be obtained, documented and evaluated in presenting the said conclusion. And all significant matters relating to the result of the engagement are to be communicated to the client. And the consultant must have an integrity in which it imposes an obligation to be straightforward and honest in professional and business relationships. I must do the right thing. I will tell the President that he should be removed from his position and I will present to him all the evidences and data being gathered that shows he can no longer stay as a President in the company.
KRIS A. GAWAN FMA 1V-B
ReplyDeleteCase 2:
I must consult to the board of directors regarding the study. They should make necessary actions to the result. The study showed that the President of the company is not capable for the improvement of the business.
Case 7:
I will accept the offer. Firstly, because we say business whether we use it or not, it yields money for the company. Our business is concern about management accounting practices. And for accepting it my business is not coerce to use their products in order to us to assessment to them. As our business is dealing with developing marketing program. We are intended to so and not for the products they introducing. Lastly, we’re intended to give them proper steps that will makes their business successful.
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ReplyDeleteCASE 2: If that is the case that the President should be removed from his position, so be it. Consultant should have the integrity that is free from intentional distortions and should have the ability to avoid bias and to maintain an impartial attitude and of course to maintain an independent mental attitude. KAREN S. DIONIO
ReplyDeleteCASE 7: As the owner it is not ethical for me to accept the engagement for some reasons. First, it is hard for me to assign the engagement to my consultant because I have the feeling that it is wrong for others to smoke, and of course my consultant knows that I do not smoke. Second, it is hard for me and my consultant to market the products because I don’t have the experience or I don’t want to have the experience of smoking the tobacco, although marketing tobacco can be researchable. And thirdly, I believe that tobacco is not beneficial to the clients when health is concern. KAREN S. DIONIO
Emee Rivera
ReplyDeleteCase # 1
Before i accept that engagement i know my client is a large publicly held corporation, we should tell to the highest management about all the anomalies happen in their company. I think to be a policeman is not a good idea for us to make because our work only is to defined the problem and make the right decision out of it. That’s the reason why that client hire us. I think he is all the right to make an act or move to his employee’s involved that certain act. All we have to do is, what we have discover we should not put in public. Leave it to the management.
Case # 5
Mr. President before i accept this engagement, i have an integrity to maintain an independent mental attitude. For what the outcome of it. It is from my investigation not for your recommendation. All i want is fairness and free of intentional distortions or misstatements.
Domingo L. Mondia Jr...
ReplyDeleteCase 2
As a consultant If the removal of the current president is the key for the efficiency and effectiveness of the company, I will suggest that the president will be removed from its position to the Board of Directors, and then its up to the board to decide whether they will give him a second chance or totally remove him off from its position.
Case 5
The response would I make is the reverse to what the president expects and recommends to me, because the principles of "INTEGRITY AND OBJECTIVITY" must be applied in doing my job. Integrity in a way that I should be straightforward and honest in performing my services and free from influence from the inside management and being "Objective" that my work must be fair and not allow prejudice or bias.
Case 1:
ReplyDeleteAs a junior consultant you should be honest to your findings. Be courageous enough to tell what is really going on with the company. As long as you follow the terms and conditions in the engagement letter signed by the two parties it is rightful. It is your duty and right as a consultant to keep gathered information very private and confidential. You have every right to tell or show your findings. Be confident enough as a consultant to express your recommendations regarding to the efficiency of the company.
Case 2:
If the conclusion after an exhaustive study reach to a point that the president should be removed from his position then maybe it should be implemented. First, you should approach the president regarding to your conclusion. Then cite to him your opinions or recommendations. Discuss with him the findings of your study and show him or prove him that it has a assurance or reliability. Lastly, made him realized that yes, truly, he has the problems why the company suffer. As he is the president let him decide whether he will be staying to the company or not. What is important is you do your job well with integrity.
CASE 5:
ReplyDeleteAs a junior consultant who is assigned to conduct a study of a top management your primarily concerned should be the strategy, structure, management and operation of the organization. As a consultant you can assist by identifying options and recommendations, providing additional resources and implementation of solutions. You should place the interests of your clients ahead for what she expects rather than to your personal interests. As a consultant you should be aware of your conducts and responsibilities to meet the clients needs.
CASE 6:
With this case, as a consultant you should put in your mind the words "TO DO THE RIGHT THING". There must be an integrity and objectivity in your work. As a basic responsibility of a management consultant you should not misrepresent the facts and never subordinate judgment to others. Even though the guy is the one who signs your paycheck, you must consider your job first where your clients believe to the result of your work and where you are putting your self in risk. You should remember always the code of ethics in doing your work.
Case 5 :
ReplyDeleteAs a consultant, taking responsibility to study the top management means that any conclusions or results that you have discovered should not be revised and be instructed by any of the top management. The recommendations and/or information provided by a consultant is considered independent, objective and detached to the problems faced by the organization. You can consider the recommendations and findings by the President, but you have to make sure that it does exist, and can provide solutions to the firm's problems. But as a consultant, in every recommendations and findings you'll gonna offer, it will assist the top management in the administration of the organization.
Case 8:
Ethical in the means that he offer/suggest a related firm for higher visibility that could help in providing solutions for the problem. But , as a member of the firm that was asked, to spend approximate 10 percent of the total fee is not ethical because as a private firm, we are not obliged to pay them as suggested by the client. And unethical that he has no confidence of our firm's capabilities to solve any deficiency of the clients' firm. He should have entrusted it to us independently and it will be our responsibility to observe and make analysis to the specific problem than questioning our firms' independence, competence and integrity. The reliance of the client is a big help for analytic ability and experience in problem solution of our firm.
Case 6
ReplyDeleteEvery organizations undergo several changes all the time which is a natural dynamics for the growth of the organization. So as an internal consultant, I should be independent, objective and detached to the problems faced by the organization. I must evaluate and recommend changes of the top management, including the guy who signs my paycheck according to the data that I gathered and test performed during my consultation. But, I know that there will be resentment among the management which could never be avoided when it comes to changes. So as a consultant, I will explained it to the management in a positive manner for them to understand that this changes that I recommend is for the betterment of the organization.
Case 7
As a sole owner of a management consulting practice that masters in the field of Marketing, I will accept the engagement offered by one of the major tobacco manufacturers which is a very profitable consulting contract to develop a marketing strategy. Because according to the code of ethics for management consultants, the consultants must place the interest of clients ahead of personal interests and serve the client with integrity. So, he must set aside his personal opinion about smoking. He must be professional when it comes to this situation, for business is business.
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ReplyDeleteCASE 2 :
ReplyDeleteAfter the exhaustive study that was made and come up to the conclusion that the president should be removed from his position. This conclusion is quite crucial, as the president is one of the most important person in the company but as I discovered that the president should be removed because of inappropriate doings he has done. Even though that he hired our firm but still we should be flexible, fair and true to our clients and also tour firm. I think we should discuss it to the president first if he really know what he is doing about but if he refuse to do so we should discuss it seriously to the head of the company that their president should be remove because he is not a good asset to them, also he is not following the rules, regulations and policies of the company, as well as he is not a good model to the other member of the company.
Case #2:
ReplyDeleteAfter all the exhaustive study first thing that i should take into action is to implement preliminary measures, as to informing the president, because we cannot easily discharge the president from his position without valid and worthy reasons, then search for the more better idea than removing the president, by this the president may take his time in knowing his shortcomings and uncertainties in the company and may change it for the efficiency of the company. For all we know being a president also tells us how high the percentage of his shares in running the company. But if i have done all that can be possible in this case and no improvement with regards to the performance of the president it is better to file an appeal to the eviction of the president from his position. :)
Case #5:
In this case, the instruction of the president is not in accordance with the said study that is to conduct in the top management. The president is not allowed to command what findings or result that should ne acquired. Therefore my response to the president is that we should wait for the test and studies to be fully finished and accept look for good ideas for improvement in whatever results that the top management will acquire. :0
Case 7:
ReplyDeleteI will accept the engagement , because its a business .!! even though smoking is not one of the track in my life .. BUSINESS is still a BUSINESS
jovi saljay
ReplyDeleteCASE 2
First, i should consider the feeling of the involve person, which the president. immediate action should take place in order for the firm to improve its efficiency. this conclusion must be reported to an external body as an enforcement or regulatory authority so that the company would benefit from it. as an analyst i should consider the factors that would help me find more ways and review it so that i could come up to an optimum solution to solve the problem of the firm. lastly, the facts and circumstances of each case need investigation by the parties concerned.
CASE 5
First, i should study the top management of the firm in order for me to come up to an optimum solution. the best response would be, the study should meet the expectations of the president. in order to meet his expectations the findings of the should have a better influence to the firm. so responding to the presidents expectation gives your company a challenging tasks because he has given condition about what would be the result that will come up later on. and because there were information that were given late, you'll have to revise some of your results to directly resolve or meet his
Case 2:
ReplyDeleteMaybe the president of the company is not doing great. As to what conclusion came up, i should present it to them to know that a president should be removed for the better. In this case its up to them to remove the president or take chances.
Case 5:
In this case my response would be base to what study i learned or gain. It is a study not to be instructed & directed by someone even a president. Both firm must unite for good to come up a better understanding & results because my firm would be liable to everything i studied upon.
CASE 3
ReplyDeleteAs a consultant, I should tell all that I find out about the financial control system designed by the president. I must have integrity in my work and do what is right as a consultant. I will face any consequences in telling what is true, I may lost my job but then I have done something right and I stand in my principles as a consultant. And not only to myself but also to the client's and the company i'm serving.
CASE 2
The action that I should take is that I will talk to the president of the company so that he will know right away what conclusion I have arrived. We can discuss for another way to improve the company with out removing him to the position. And I will review again my exhausted study so that I can make sure of my work that I made. I must have assurance, competence and integrity in the every work that im doing.
Case 1:
ReplyDeleteBeing a consultant of a large company you have the obligations to tell your clients that you discover fraud & other questionable management practices that is happening in their firm. So that, they have the knowledge for this, & they can make the necessary actions to solve the existing problems that might destroy their organizations.
Case 2:
In this case i will present to the board of directors about the outcome of the study that the president will remove from his position inorder that the company will improve the efficiency, its up to them if they will give a chance to the president or not.
Case 2
ReplyDeleteIt is not necessary to remove the president from his position. As consultant your job is to solve the problem. Instead of removing the president it is better to give him advice to an effective company. One way of solving it is to recommend techniques and standards that are really helpful to improve company’s policies. And it should be implemented not only by the president but also by the employees of the company.
Case 6
As an internal consultant you should follow the tasks assigned to you. Now a day we need to be practical. Do what is right and what is good for the company even though there are person who are in higher position involved in the problems. Apply the necessary actions to solve the problem.
case 7:
ReplyDeleteYes, I will accept the engagement. Because in practicing your profession you should not involve your personal feelings. It is very unethical to reject that offer, because of your personal feelings, after all the tobacco manufacturer is operating legally. It is also very unprofessional if you reject the offer, because of what you feel and I think the offer is very good. You must feel happy and proud instead, because of so many management consulting firms in the country you are the one chosen by one of the major tobacco manufacturers. That is one in a million and a chance in a lifetime.
case 2:
I will explain the result of my exhaustive study i will be honest about it, because that is what my study shows. After all it's up to the company if they will implement my suggestions. If I will
lie and don't report my true observations, what's the purpose of my consultation. My consultation is the truth, and I will deliver it to the company or to the top management of the company with reckless abandon. I think it is very unethical and unprofessional to lie about the result of your consultation, false result will just add more problems to the company and it will bring them to their downfall, so tell the truth and it will set us all free.
CASE 7
ReplyDeleteWe have a law prohibiting minors to smoke specifically speaking, smoking causes as so many bad effects such as lung cancer etc. Second hand smokes are also prone to this kind of diseases. As a consultant you must first consider the pros and cons of the engagement. What is the effect and limitation of the product they are promoting? It is not ethical for you to accept the management even if it is worth a million because there are so many people who are going to be affected by that. Lastly at the end of the day it’s not really the money that counts, it’s the responsibility. As a consultant you have the obligation to protect the consumer from the product you engaging with.
CASE 4
Accept the job and go for the feasibility study at least there is fifty percent chance of selling the bonds for the propose expansion. It’s not only the feasibility that matter sometimes it’s the gut feel. People nowadays is badly need of a hospital because we have only few hospitals and most of are expensive. Go to hospitals to check their facilities and equipment to see how they are operating and based on that formulate a plan for the expansion.
CASE 5
ReplyDeleteIn this CASE, I will strongly disagree, why? As a management consultant you should not be bias in the information you gathered it should be confidential. As a consultant you should also fair enough, how can you present a good, reliable recommendation if you were manipulated by the President of the company you were consulting with. A management consultant should live with integrity, trust worthy and competent this values shown a good example to the firm you are engage with.
CASE 7
YES, WHY? In this CASE the firm is asking you professional skills, if you are not a smoker best thing you can do is conduct a research, ask people who smoke the data you've gathered will be the basis of your recommendation and conclusions on how to improve their maketing strategy.
CASE 1:
ReplyDeleteBeing a consultant, you have to be reliable to your client. I, as the consultant, I should tell or inform my client that their company is having an illegal payments, fraud and other questionable management practices. Telling the problem as early as today is a way of recovering those problems in an earlier time and can be solve easily. I don’t have to be a policeman as well as a father confessor to let the company know that the firm has some problems. I have a right to tell it to my clients because they trusted me in discovering whatever problem the company has.
CASE 2:
Yes, having a tobacco industry in the Philippines is a big opportunity to gain higher income or profit. In business, you don’t have to look the other side of it. Being a business man is risking the opportunity to have a successful firm. It is also one way of proving may self that I’m a reliable marketing consultant even though it’s against my will. It is ethical because we are engaging in a business.
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ReplyDeletecase# 5 and case#7
ReplyDeleteC#5
If I were the firm I will accept the engagement, and I will do my job. Such as studying the course of the business , examining its structure and give a solution base on my study. But if the president of the company instruct me on what to do and what would be the result of my study must be on her/his side, then I will still continue my job. All thing that he/she says will never affect the reliability of my study. I will still hold on my principle that a study is always a study and what ever gonna happened my studies on company will still show the information that I get from them. then all things will be depends to president if he/she accept or reject my study.
C#7
For me, it is ethical to accept the engagement because business is still a business. I think tobacco manufacturer don't have any violations hat would result or cause to the engagement to be unethical. At the same time, accepting the engagement would benefits both parties.
Case 2:
ReplyDeleteAs a consultant, I prefer to take an action to president to removed from his position because of the inefficiency of his work as a president. As a consultant I prefer to take a professional actions towards the president to removed him from a company in order that the company will improve more. As a consultant I perform my assignments to develop or improve the company specifically for the solution to removed the president because of his inefficiency. As a consultant i had no fear to take an action against the president because i have an obligation as a consultant to removed whatever the result is.
Case 7:
No, it is not ethical for me to accept that engagement because of a feeling that it is wrong for others to smoke. Even though they offered me a very profitable fees. I would not prefer to accept that engagement. Because of a feeling that the engagement of tobacco manufacturers may result to destroy our health. As a sole owner of my own management consulting practice. I prefer to focus on my firm to develop my good outstanding reputation.
CASE #6
ReplyDeleteBeing an internal consultant, I should be independent, objective and detached to the problems faced by the organization.As an internal consultant first i will evaluate the problems that the top management is facing and it also includes the person who will sign my paycheck,and after that i will recommend the right thing to do on how to reorganized the top management to make it well functioned.
CASE # 7
As a professional consultant i will accept the engagement, even though it is unethical to my part but still business is business and i have several consultants that i can be send to that engagement to work for me and to do the marketing program that our client want us to do for them.
case #5:
ReplyDeleteas a response, i will tell the president of the manufacturing firm that i cant screw the result of my study. as an independent firm, i am oblige to present an accurate, measurable, realistic, and reliable result. if i will follow the president's advise, my firm will be at risk because if the manufacturing firm will be bankrupt the external resources will blame my firm because what is stated in my results f study is different n whats happening.
case #15:
as a legal implication, Ju & Grace is responsible fr the wrong out come of the Wonder Inc. there is an engagement between the two f them that Ju & Grace will be the one to give instructions on how to operate it. they should not give the work to the newly hired employee because their knowledge on how the system work is not sufficient enough to delegate. they should also give supervision on the employee who are using it. as the computerized production system being implemented work as what it is being specialize is a big help because it can lighten the work of the firm.
Case #5
ReplyDeleteIwill tell the president what is the purpose why she hired me as their consultant if I will follow whta she expected the recommendations and findings to be. She hired me to make a study of top management to determine any causes of the problems and ineffencies, if any, in their company and to make an analysis to come up my findings to be the basis of what recommendations and conclusions I can give. I will finish my study to come up my own conclusion because that is the purpose why she enganged in my firm and it will depend on the president if she follow what my findings are. And i believe thatb she hired me because of my competence, that i have the ability and skills to define and identify their needs.
Case# 7
Ethical Behavior is "doing the right thing".
It is not ethical for me to accept the engagement because I, myself do not smoke. I believe because of my outstanding reputation in developing successful marketing programs and if I will accept the engagement more people will patronize thier product. We all know that smoking is very dangerous to our health and I don't want to see people suffering from diseases.
Case 1:Being a consultant,I should be fair to client to detect the fraud,other illegal payment as well as questionable management.I should first determine the appropriate course of action that is consistent with the fundamental principle identified.It is better to tell the client what one intends to do or not to do.If the problem is still unresolved then its time to consult the opinion of the board of director.
ReplyDeleteCase 7: I will accept the engagement although im not smoker as long as I already know my responsibilities in accepting the engagement.and as long as the intention is to contribute most success and make for equitable and comfortable client relationship.One thing to be considered or exercised in the performance of management advisory services engagement is Due Profesional Care.April May Parcia.
case 2
ReplyDeletethe action that should be taken first is that,what are the attitudes and behavior that causes the president to be one of the hindrance of the companys inefficiencies.then I will offer it to him in a nice way.In a proffessional way,he/she must accept the conclusion I have made.because what was he wants so I just did my obligations in a proffessional way without bias.
He must accept it,relationship that bias or unduly influence the proffessional judgement of the management consultant should be avoided even the president himself,he is not exempted.
case 7
for me,its just fine to be a consultant of a tobacco manufacturers ,even though I dont smoke, and I feel it is wrong for other people to smoke.but then,business is business,its up to their decision to smoke.Im just doing my obligations as a consultant without prejudice.
as long as I have done my work especailly in marketing and promoting this firm.I should not bring the proffession into a disrepute.
Gerald King E. Panaguiton BSBA FMA – IVA
ReplyDeleteCASE #15
The assigned staff/s should always have sufficient supervision, especially those who are newly hired. The management should also the sufficient knowledge of the company being engaged with. And also they should have the computer expert, either they will hire it or in their own, in installation of a new Computerized Production System. The management should also determine first the possible outcome before accepting the engagement, either they are really able or capable to handle the engagement or they are not. They should always remember that in every engagement their name (JU and Grace, CPAs) and the future of the company being engaged (Wonder, Inc.) is at stake if they will not be careful or not thinking of it. And the worst was, the significant losses because of the production system were crashed, significant backlogs and loss of product sales.
CASE #5
Because the partial result of my study did not meet her expectation, I will confront her and will say “as a consultant I am working on my own or independently”. “Is there any mysterious plan that the company should know or should not?”. “Madam, I can presume that the company has the point in having us or me to conduct an engagement, for there is such thing the so called anomaly in the top management itself. And Ma’am, you should not be involve in the engagement and necessitate me to meet your expectation for the reality is not”. “I am working with Integrity, trustworthy, and competent therefore I will not let you defile me.”
CRIS JOHN MEL BARON FMA4B
ReplyDeleteCASE 7
For me, i will not accept that engagement,because in that situation as a sole owner of a firm, tobacco is a dangerous to our health and is can cause death to those people like in Southern area. Even though it can give me a large profit, but still my concern is in the health of those people.
CASE 10
1. Leo is the one affected because he is the one who gain expenses.
2. Yes, because Leo has a right to reimburse his expenses.
3. Yes because he is also a consultant.
4. For me. I will not ask for reimbursement, because the expenses is not important. What is important is that the learning and experience that I will gain or absorb.
5. I will thank him.
CRIS JOHN MEL BARON FMA4B
LEONITO UMBAO JR. FMA 4B
ReplyDeleteCASE 2
In their case, I was given the opportunity to scan the business and its organizational structure of the company, if ever the president should be remove from his position, I will make the necessary steps and all my best to do the work well done even it can result for the removal of the president. It is the only way to improve the efficiency of the company, I will take the risks of removing the president from his position.
CASE 7
In this case, I will accept the engagement because it is very profitable and only thinking about practicality. Because my Priority of putting up a business is to gain a profit. But I will make sure that the tobacco will not have a higher impact to the health of my customer. I will also consider the health of my customer.
LEONITO UMBAO JR. FMA 4B
CASE 7:
ReplyDeleteAs an owner of management consulting firm in Marketing field, I would accept the engagement. To be a professional means dealing with it in a professional way. Accepting it doesn’t mean to withheld the truth, anyways the truth about smoking isn’t a secret anymore. Being responsible enough, finding a right a good and right strategy is what I have to do. In business, professionalism coupled with sense of responsibility is the most important.
Case 2:
If I have done an exhausted study which shows and recommends the removal of the President, I might let the board know it. I will explain to them on how I have came up into that study, because it is my duty to tell the truth and not withhold it. The members of BOD will have the say. The President do have the right to know about the recommendations and the opinions I have came up with, with that he would be aware and might decide to be more efficient and effective or would just leave the company and let the BOD decide.
Jerramae Palma FMA 4C
ReplyDeleteCase 1
My response to this comment is that as a professional he should respect the confidentiality of information acquired as a result of professional and business relationship and should not disclose any such information to third parties without proper and specific authority unless there is legal or professional right or duty to disclose. Confidential information should not be used for personal advantage of the professional accountants or third parties who accidentally open a confidential information. Professional accountants should maintain e confidentiality of information in social environment. We should set a meeting and discuss about the clients confidential information that has been completely open. You ensure that the staff under the accountant control and persons for whom the advise and assistance is obtain respect the professional accountants duty of confidentiality.
Case 2
As a part of the company we should undergo to a very sensitive decision to make an overall policy study of the business and the organizational structure to determine actions that would improve the efficiency of the firm. The president should comply with relevant laws and regulations and should avoid any action that discredits the profession. In promoting themselves and their work, professional accountants should not bring the profession into disrepute. President should be honest and truthful to his work as a leader of the firm. The president is maybe good in different aspects of the firm.
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ReplyDeleteThe comment of junior consultant is right and it's based on her observation during the course of engagement with the company, due to professionalism to maintain a professional business relationship with the client,the first action to be taken is to present the problems and recommend an optimum solution to the board of directors. Consultants are hired as a fault finder and rectifier and must be guided by the agreement stipulated in the engagement.
ReplyDeletecase 2
If this is the case, the first action that I should take is that I will directly present this problem to the president itself, give him a chance to rationalize his past performance. After doing so, I will make a recommendation and present it directly to the board of directors and it is to their level to decide whether they will remove the president or give him another chance to prove himself that he's still capable of keeping his position.
case 2
ReplyDeleteAfter an exhaustive study, being an ethical consultant you cannot easily removed the president from his position. a president has a great contribution or role in a company. With you can implement some systems to be followed. In your study you may present it to the board of directors of what they may contribute to that problem.
case 7
As an owner of the management consulting practice and a specialist in the field of marketing, i will accept the consulting contract, so as it is profitable. On that as a consultant i will set aside my personal feelings and opinions about smoking. Placing an interest of clients ahead of my personal interest.
CASE 5
ReplyDeleteAs a consultant, I am guided by the standards on how to perform accordingly. One of which I shall violate if I follow what the president have instructed is personal characteristics-that a practitioner must act with integrity and objectivity and be independent in mental attitude. I must see to it that my findings and recommendations are free of intentional distortions or misstatements. I shall also take all matters free from bias and personal involvement so as to avoid impairment of public confidence in my profession. Therefore, it is but just and appropriate to say that all my findings regarding the engagement will be based on factual, reliable and unbiased information. Taking the president's instruction will just impair my profession especially the result is unfavorable on his company.
CASE 4
My judgment at this engagement is critical. A lot of matters shall be given enough considerations, but then, in order to serve my client the best way I can while maintaining my professional competence and attitude, i shall go for a fair and truthful dealings. This way, they shall know what are the consequence if ever they pursue their plan of constructing a new wing. i shall be honest and straightforward enough to tell him the real matter even if it will cost my engagement job with them. I shall not compromise my professional or business judgment because of my bias and conflicting interest.
Case 2
ReplyDeleteIn this case maybe the president, he had done something wrong to the company because after an exhausted study, why the consultant removed the president? But before anything else the consultant should be detailed the formality of documentation will vary according to the nature and scope of the engagement. The documentation should demonstrate that the due care has been exercised. It should record as appropriate an evidential matter and its source, the alternatives considered and the analytical process leading to specific recommendation.
Case 5
In this case, the president can’t instruct me, it I my decision followed. I will continue my studies of top management even though he instructed me to what expected the recommendations and findings to be. If I come up with the conclusion, that the result of my studies are reliable, efficiency and independent I can give a positive conclusion in the my studies but if I will come up with the result of a negative conclusion, like I found out that there is inefficiencies, fraud or mistakes at their top management. I will conclude a negative recommendation or feedbacks about their top management.
case 2
ReplyDeleteThe firm is employ by the president of the company, after an exhausted study the consultant come up to a conclusion that the president should be removed from his position. It would be noted that before the happening of the engagement, the scope and limitation has been conveyed, the same as through the manner of expressing the consultant recommendation and suggestion. The case is, what are the action we should take into consideration. Apparently, we could not jump into a certain conclusion without going further into deep investigation. On my opinion, the consultant should dig deeper information and evidences that would proved that their conclusion was is correct. But in any case, that the company will not accept, and then it’s all up to them. What is important is the consultants are doing their job well and without malice to everyone who is concern
case 3
One of the qualifications of the consultant is being independent. They are hired to make various recommendations and that should be implemented towards the company. In this case if it is happen that the consultant’s independence will be impaired, then I would suggest that he will abstain from his job. But if he his courageous enough and sure by himself that he can do his job rightly, then he may as long as he could maintain the sense of integrity. The consultant should make valuable recommendation that will convince that his recommendation could benefited more than before. Most of all the consultant should not after the salary he could compensate but foremost he should consider the service he could provide is efficient.
huhuhu...,,,.
case 2
ReplyDeleteIn this case,I will call the attention of the president and and explain to him the results of the exhaustive study. I will talk to him in a nice way of course so that he can't be insulted. In this regard, he is aware of everything he acts in order for him to realized his weaknesses so that if ever he can work to another company he can improve his work. and if possible he can have an efficient result of management.
case 10
In this case, Leo is a junior consultant at a medium sized management consultancy firm. From this situation, the consultancy firm and the two clients are the parties that are directly affected in this ethical dilemma. I think Leo's decision to reimbursed those expenses will not affect the image of the consultancy firm as long it will result a good companion to the city. I think Leo's decision it will not affect to the other consultant because it will depend to the consultants. If I were Leo as a consultant and for the benefit of the firm I will go over to my decision and never mind other business. If both clients paid P1,400 for my expenses with no action on my part, I will represent my self to return the excess of P1,400.
Felipe Chua
ReplyDeletecase 2
In this case,I will call the attention of the president and and explain to him the results of the exhaustive study. I will talk to him in a nice way of course so that he can't be insulted. In this regard, he is aware of everything he acts in order for him to realized his weaknesses so that if ever he can work to another company he can improve his work. and if possible he can have an efficient result of management.
case 10
In this case, Leo is a junior consultant at a medium sized management consultancy firm. From this situation, the consultancy firm and the two clients are the parties that are directly affected in this ethical dilemma. I think Leo's decision to reimbursed those expenses will not affect the image of the consultancy firm as long it will result a good companion to the city. I think Leo's decision it will not affect to the other consultant because it will depend to the consultants. If I were Leo as a consultant and for the benefit of the firm I will go over to my decision and never mind other business. If both clients paid P1,400 for my expenses with no action on my part, I will represent my self to return the excess of P1,400.
case 2
ReplyDeleteAs a consultant, he is possess with different ability, special knowledge and skill that make him worthy as consultant. I will present my study to the top management, according to what i had observe. i should consider also the position of the president. I will not judge him according to his act, but also to listen what his on side. After all the decision will be based on the top management. But as a consultant i make sure that i have done my duties in an ethical way.
case5
In this case, as a consultant im getting paid for the service i had rendered with the company. So i will not let the president told me what should decision should i agreed. whatever the conclusions, and recommendations i had come up with my study, then that would it be. after all the come up with my study is for the best of the company.
try
ReplyDeletefff
ReplyDeleteCase 5
ReplyDeleteAs a professional accountant, I should act with integrity, objectivity, and be independent in mental attitude at all times when making an engagement. I should be fair and truthful with my reports without any association with reports or information that might be misleading. The president's recommendation regarding the conclusion tantamount to undue influence which is a threat to independence. I would not follow his instructions so as not to compromise my professional judgment. This type of situation should be avoided and that I must issue a conclusion/recommendation that is really objective and truthful.
Case 7
Since I'm the owner of my own management consulting firm and I think that it is not unethical. I must be objective at all times and not be affected by my prejudices like smoking. I'm not the only one involved in this process but also my consultants who are working for me. Considering these factors are important because of the consequences that might arise for every course of action I take. To sum it up, There must be no bias involved and that the offer can be accepted because it did not affect my integrity and competence.
Case 3
ReplyDeleteIn this case, as a management consultant you should bear in mind the primary goal of the engagement and that is to improve client's condition. Under the circumstances, there exist a conflict of interest between the president and the dissenting shareholder. The consultant should take the necessary steps in solving the conflict through referring to the fundamental principles to have an idea on what action to take. You can ask for help from the people in-charge of the governance like the BOD or Audit committee. On the other hand, the report of the consultant should reflect the honest result of the engagement even if the president will be upset because it is of primary objective of the consultant to help improve the firm's system.
Case 4
As consultant, the standard require you to have personal attributes such as integrity,independence in mental attitude and objectivity. Objectivity dictates that you should avoid bias and maintain impartial attitude in all matters under review. Even if the project seems to be profitable, you should be honest with the result. Integrity dictates that recommendation should be made free of intentional distortion and misstatements just to reflect what the company wants regarding his business. Finally, you should have independence in mental attitude, as this is your obligation to the client in order to avoid impairment of public confidence in the profession.
Case #2:
ReplyDeleteAfter all the exhaustive study first thing that i should take into action is to implement preliminary measures, as to informing the president, because we cannot easily discharge the president from his position without valid and worthy reasons, then search for the more better idea than removing the president, by this the president may take his time in knowing his shortcomings and uncertainties in the company and may change it for the efficiency of the company. For all we know being a president also tells us how high the percentage of his shares in running the company. But if i have done all that can be possible in this case and no improvement with regards to the performance of the president it is better to file an appeal to the eviction of the president from his position. :)
Case #5:
In this case, the instruction of the president is not in accordance with the said study that is to conduct in the top management. The president is not allowed to command what findings or result that should ne acquired. Therefore my response to the president is that we should wait for the test and studies to be fully finished and accept look for good ideas for improvement in whatever results that the top management will acquire. :0 @nov.14 :)
Case 7
ReplyDeleteIn my own point of view it is not ethical to accept this kind of engagement because we all know that tobacco is really harmful. And how can you convince other people to buy the product if you yourself do not smoke. You should be honest and truthful and you should not make exaggerated claims for the service they are able to offer, the qualifications they possess or experience they have gained. You should weigh the consequence with each possible course of action in order to perform ethical requirement needed in the engagement.
Case 4
In this case,it should not accept the offer because in the first place you are not hired to study the case given by the hospital because they already had the decision to make an extension for the hospital. Your purpose for being hired is that to help the hospital sell the bonds because of your good reputation. In this situation, you are required to use the principle of objectivity that you should not allow bias, conflict of interest or undue influence of others to override professional or business judgment.
Jamie Marie Velez
ReplyDeleteCASE 1:
A professional accountant should not be associated with reports containing materially false or misleading statements. As consultant,they are required to provide a modified report in respect of a matter contained in paragraph 110.2. Being a consultant, he must possess integrity in doing his work, so he has the right to inform the management that something wrong going on in the company and this can ruin the reputation of both the corporation and the practitioner. A professional accountant should avoid any action that discredit the profession. However confidentiality must remain even in social environment.
Case 5:
As to standard no. 5 before undertaking an engagement, a practitioner is to inform his client of all significant matter related to the engagement including its objective and scope. So from the time the CPA accepted the engagement and he began working with it he will be fully responsible in the manner wherein he can develop sufficient conclusion and recommendation without intervention of the president. Provided that the CPA practice integrity, objectivity, and independence during the engagment. Otherwise the president of the management intervenes with the recommendation,findings, and conclusion as the completion of the CPA’s study draws near, some of the ethical standard will be violated such as objectivity. A professional accountant should not allow bias, conflict of interest or undue influence of others to override professional and business judgment.
try
ReplyDeletecase 2...
ReplyDeleteeventhough the president is the one who employed to make an overall policy study of the business I should think to do what is right because I found out that the president is inefficient in running a business therefore he must be removed from his position although he had the power and authority.But despite there a lot more deserving people in the said position. I should take an action by writing an appeal with proof and instances that showed him that he is inefficient.But it is easy as removing a president in a company ther is a due process,in case it will not be approved by the majority of the board of members I just take an opportunity to suggest an ideas that can help him to develop wherein he is inefficient in a respectful way...!!!!
case 7....
i should not accept because although i am expert in marketing,but the problem asked ethical behavior or value.Stated in the problem that he doesnt smoke,and smoking is not good to your health so I will stand with my own perceptions which refer to ethics..In the other hand accepting an offer in that company will give big help financially,and where I can practice and develop my expertise in marketing.Likewise the company will receive more benefits too,in terms of my performance if I will accept the offer which is to work with their company.In the contrary,despite how much benefits and advantage will I received I will not accept the offer...thats it!!!!
Case 2
ReplyDeleteYou were hired by a Corporation to improve the efficiency of its operation. Therefore, you have to give them the results of your studies. Whether it shows danger to the one hiring you. In this case, the President himself is in danger of being removed from his position, you are still oblige to give him the results and the proposed recommendations.
Case 7
It is not ethical to accept the engagement knowing that you are against to the company’s business. You do not have the same interest. You might follow procedures which are not in relevance with the interest of the Corporation. This might resulted to a poor marketing program. Aside from theses facts, the engagement might give bad impression to your own firm, knowing that you are well-known to your field as a good performer.
Case 7
ReplyDeleteNo, it’s not ethical for the consultant to accept the engagement because accepting such engagement with the tobacco manufacturing against your will would give a problem in regards with the ethics. The consultant will have a hard time on how to deal with the client because of the conflict of interests. The consultant will also have the problem in applying the fundamental principles with regards to the issue of clients. The consultant and the management must not have a conflict of interest with regardsto the proposed engagement. So, themanagement consultant must not accept the engagement.
Case 5
Being a consultant, integrity is very important, that all accountants bestraightforward and honest in professional and business relationship. The consultant must not accept what had the president desires him to do. He must have a conclusion of his own and not depend from the given one of the president. Objectivity is alsoapplicable in this case that the consultant should not allow bias or undue influence of others to override professional business judgment. He must have integrity and objectivity throughout his works.
Case 5
ReplyDeleteAs a consultant, I will do things on my own. I will make the president's expectations as the basis of my conclusion, but if I find my conclusion to be more advanced, convenient and beneficial on our part, I will stick to what I believe. His instructions can help me in my study but I must have this independence in order for me to create conclusions without bias. In fact, because I’m in-charge here, my reputation as a consultant lies on these studies and conclusions that I will be giving to the president. So therefore, my action to this instruction are only for the basis of my conclusion.
Case 4
As our firm has an outstanding reputation, we will not accept this engagement because of the 50% chance and negative outcome. Since the hospital is pursuing our firm to help them sell their bonds, but we will not take the risk because in our study, negative outcome would result if we continue it. Even this project is very profitable, our firm’s reputation lies on this project. There’s only low probability that this project would be successful. So our decision is not to pursue this engagement.
CASE 2
ReplyDeletei would tell the president that, according to my study, he should be removed from his position in order to improve their company's efficiency. in this way, he would be aware and could make improvements to himself if he wants to retain his position. if he wants to stay, he should follow the standards that were set to improve their company. i would explain to him that the results have bases and are out of my exhaustive study. this is only a suggestion and it would be up to him if he would accept it or not.
CASE 7
for me, it is unethical to accept the engagement. it is because, the welfare of my follow is more important than business. i personally dislike smoking and i know that it is not good for our health. for me, it is not right to market smoking and encourage people to smoke. tobacco manufacturers are not the only client in consulting practice, that even if you won't accept the engagement with them you can still have more clients from different industries. if you'll just maintain or improve your firm's reputation, you can still have more clients and engagements.
Case 2
ReplyDeleteI will tell the president that one of the actions that should be taken to improve efficiency is to removed him from his position. It is according to my exhaustive study and not just by mere observation. However, this instance will motivate the President for this will serve as a challenge to him to improve his way of managing the company. As a consultant, I don’t have the right in removing somebody in his position. My task is just to recommend ideas that are useful in improving the efficiency of the company.
Case 5
A practitioner must act with integrity and objectivity and be independent in mental attitude. He/She must not be dictated by anyone in formulating his/her conclusions. All findings must be true and relevant data should be obtained, documented and evaluated in developing conclusions and recommendations. I will tell the President that the conclusions I made is based on my studies and should not only be dictated by anyone. Whether the result is beneficial or disadvantageous, it should be communicated to the management.
kkk
ReplyDeleteCase 2
ReplyDeleteBeing a management consultant that pay and trusted by the company, I will do my job what I think is right and best in the operation of the company, it is right that I will go to the board of the director to submit the result of my consultation. The board of the director is the one who decide whether he removed the president from his position.
Case 7
I think it is better not to accept the engagement, even though it is offered a very high profitability. Because as a consultant you are not consider only the income but you also consider first the specialties of service that we offered is on marketing not manufacturing. Second the willingness to work in that particular business, it is because if will do the job because it is needed not because we like we cannot cope up a best result that the company will expect.
I believe that no matter how much the income or the profit we can get, the matter is we enjoy and love our work and also in serving our clients.
try
ReplyDeletetry liwat
ReplyDeletecase#3Professional skepticism would tell you not to tolerate this kind of situation. Money is not merely the main concern here. Accepting the engagement with integrity, and credibility will be the main reason of engaging on it. Although the client was profitable still you are using your name on it. You are just doing what is right and proper.Many are being dependent on your work.
ReplyDeletecase #4 being the consultant of the said hospital and because of the reputation i had i preferred to be keen and consider the following; of such prevailing quorum and as far as professionalism concerned probably the thing is weigh the situation before accepting the engagement;because you are already aware of such previous study done and the reason only for getting you is just your name to use it as a financing way the its up to you to think of it;and because as far as consultancy concerned being ethical is the important thing that matters. As far as profitability concerned well then its not the big thing to be considered. What is important is the credibility you've shown.
ReplyDeleteCase 7
ReplyDeleteIndeed, as consultant acquires tremendous growth and prosperity, various problems and issues being faced continues to grow and develop. As what my ethical views is concerned, I will not accept the engagement. For personally, my conscience keeps on murmuring that it is wrong to smoke, so dangerous and a threat in one's body. As what the author suggested that in cases of ambiguous situations, as a responsible individual, I must always "do the right thing , for we can't do much better than consistently try to do the right thing." That is, being brave enough to perform things in the right perspective.
try..
ReplyDeleteCase 1:
ReplyDeleteA professional accountant should respect the confidentiality of information acquired. In this case, the junior consultant is quiet right that you, the consultant may tell what is right and wrong. You should confront the illegalities of the client but it is unethical for the consultants to disclose outside the firm the information acquired. They are also prohibited to use this information to their personal advantage or the advantage of competitors. But there is a professional duty or right to disclose the information when the client is doing practices that are against the law.
sir just go to this blogsite..rneponcio.blogspot.com para maview m ang case 7..please..thank you gd sir..
ReplyDeleteCase No. 7 Yes, I will accept the engagement. Even if I don't smoke and i know that it is wrong to other people to smoke,i will still accept the offer since it is my job as a consultant. As a consultant of the said firm, i must be open-minded and always be ready in every cases that I'll be handling. I should always bear in mind that those responsibilities is already attached from the time i chose the path of being a consultant. If im going to refused this offer it may lead a bad reputation to the firm where I'm working right now.
ReplyDeleteCase No. 5 If my firm is engaged to a manufacturing firm to make a study of the top management I will not allow the president to instruct me of what she expected the recommendations and findings to be. As a consultant of that firm, the result of my study must be reliable.It must be fair so that all my recommendations will be a useful tool to the betterment of the company. If i will listen to all of his instructions,my stucdy will be then useless.as a consultant i must be independent in many ways.
ReplyDeleteCase 5
ReplyDeleteAs a consultant my decision should not be influence by any of the members 0r employee of the company. The findings and recommendation that I will give to the management should have the reliability and fairly presented. As a consultant i have the image to show them that I'm credible enough to manage the firm.
Case 7
ReplyDeleteAs a professional consultant I will not accept the engagement of the firm because for me it is unethical. I know that through my marketing strategy on endorsing their tobacco it will harm the health of the people.
Congratulations Apprentice!!! Good Job. You earned extra points. For those who failed, time wasted is points wasted. As I have said, "If others can do it, why can't you?"
ReplyDeleteCase 7
ReplyDeleteIt is not ethical because tobacco is bad in our health. Even though the manufacturer offer profitable contract. It is not good as to the record in your company, because you are holding the reputation and the name of your company. As an owner you have to stand in your own into what is right or wrong. Just look for another client that can’t affect to your reputation and use your service to help also other people.
Case 2
It’s an opportunity in our firm to choose to make a study and it is our duty and responsibility to give advices in our client n how to organize, improved their business efficiency and profiablity. I will ask a permission to talk to the president in a nice way that he/she is not fit to its position. Also to inform the board of directors that was the result to what we have studied in their organization.
ROWENA PANIERGO FMA4B
ReplyDeleteCase 5:
A professional accountant I should take steps to ensure that those working under professional accountant authority in professional capacity have appropriate training and supervision.I do my job as an accountant and not the president expectation. A professional accountant should also maintain confidentiality of information disclosed by a prospective client or employee.
Case 7;
No because as a professional accountant, I should comply with relevant laws and regulations and I should avoid any action that discredits my profession. I do the right thing, I can't do much better than consistently try to do the right thing.
Lorame G. Regis FMA IV-A
ReplyDeleteCase #2
Given this situation, I will review the conflict problem with my immediate superior. If the problem is not resolved with my immediate superior, i should be determine to go to the next higher managerial level, the immediate superior must be notified with the decision.
Furthermore, I should seek counseling advice on a confidential basis with an independent advisor or the applicable professional accountancy body or regulatory body in order for me to obtain an understanding of possible courses of action. I should be conscious of and be alert to factors which may burn up the said conflict of interest.
Case #5
I would inform the president of the manufacturing firm that as a professional accountant, We are bounded to perform professional services in accordance with the relevant technical and professional standards. In addition, it is my duty to carry out with care and skill the instructions of the client or employer insofar as they are compatible with the requirements of integrity, objectivity and other fundamental principles.
And if this is the case, it would earn an unobjectivity on my part, therefore risking my credibility if i am going to pursue his personal recommendation on the outcome of the possible conclusion that may come out.
One of the fundamental principles state that a professional accountant should be fair and should not allow prejudice or bias, conflict of interest or influence of others override objectivity.
This comment has been removed by the author.
ReplyDeleteHenzen Pineda
ReplyDeletecase2:
I will present my study to the top management, according to what i had observe. i should consider also the position of the president. I will not judge him according to his act, but also to listen what his on side. After all the decision will be based on the top management. But as a consultant i make sure that i have done my duties in an ethical way.
case7:
It is not good as to the record in your company, because you are holding the reputation and the name of your company. As an owner you have to stand in your own into what is right or wrong. Just look for another client that can’t affect to your reputation and use your service to help also other people.
Case 3
ReplyDeleteI will tell the president that i saw some antiquate data in the shareholders annual report. And as a consultant, I have the right to advise them, what is the right action should they they do. I will talk the president sincerely about what he's doing is wrong. And it wasn't right that he persuade the board of directors to discharge me because of that particular reason. I will tell of what i think is right, and if he didn't agree with me that will be the reason that I ask for a resignation so that there's no need to discharge me..
Case 7
It is unethical for me to accept the engagement. As a concerned citizen of the Philippines, I should protect my environment and my fellowmen, by not smoking and also not to accept the engagement. I don't want to be a hypocrite person, because personally i don't smoke that's why I didn't accept the engagement that manufacture tobacco made for cigarettes. It is useless for me to gain more profit that come in a wrong way of doing a business. And as a business minded person I just follow the ethical behavior in doing a business. It's good enough for me to earn even though a small amount but having a clean conscience.
Case 4
ReplyDeleteI will accept the job, I will take the risk to help them to sell the bonds, because the 50 percent chance to go on the expansion is reliable enough to continue the project. I will help them to sell the bonds on higher amount to gain higher profit. I will give them some strategies and procedures to sell the bonds that will give them a high profit. I will develop and give them the correct process to sell the bonds. I will take the risk even though there are some problems that may occur because the higher the risk the higher the return.
Case 5
I will tell the president that I already made the recommendations and the findings on the said projects according to what he expected. But the conclusion of the study must be made by all who is involve because maybe my conclusion is not the same to others. The opinions and comments of others must be gathered in order to formulate a better and non-bias decision. Even his opinion as a president is needed, and it must be given a time to have a brain storming to this final conclusion. Two heads is better than one, so I will recommend to the president to have a meeting on this matter to have a fair, correct and reliable conclusion.
Case 1
ReplyDeleteAs a consultant it is your duty to create value, maximizing growth and improve performance of your Client. It is your responsibility to right the wrong things, improve the moral values and credibility of the Company. If this is your comment you are not reliable and competent enough to perform this project. Although some of the information is confidential but you have to take an actions for the illegal activities done by the Company. Be a good raw model to your fellow consultants.
Case 2
After making a conclusion that the president should removes in his position, I have to make now a decision regarding to that matter. I have to communicate to all the people involves in making decision to present m alternatives and what should be done. After that I have to take an action in letting people know the decision and what is expected on them. I have to evaluate if it is important enough to removed the president in his position, if the people strongly believe that their President has the capability to improve and develop his skills then, I have to provide an opportunity to use whatever learning for the future in a positive way. I have to evaluate what are the things need to be done by the President to increase his performance base on the comment and suggestions of the people involve in decision making. and add more information to strengthen their policy in effective and efficient manner. And lastly, I have to communicate my final report to the President and explain briefly, accurately and in a positive manner so that he or she can move onto something.
CASE 1
ReplyDeleteAS A CONSULTANT, WE HAVE A DUTY TO MAINTAIN PROFESSIONAL KNOWLEGDE AND SKILL AT THE LEVEL REQUIRED ENSURING CLIENT’S RECEIVE A PROFFESSIONAL SERVICE. WE MAY HAVE DISCOVERED FRAUD IN THE SAID FIRM; IT WILL REMAIN ITS CONFIDENTIALITY. WE MAY SEEK ADVICE TO SOME LEGAL COUNSEL FOR REORGANIZING THE ACCOUNTS. THE MOST ETHICAL WAY IS TO COMMUNICATE TO THE MANAGEMENT REGARDING OF THE FRAUD AND UNETHICAL ISSUES ABOUT THEM. IT IS RIGHT THAT WE WILL HAVE AN ACTION BY DOING THINGS RIGHT.
CASE 7
BUSINESS WOULD MEAN BUSINESS BUT STILL IF I BELIEVE IN ONE PRINCIPLE WHICH IS RIGHT THEN I WOULD DECIDE NOT TO ENGAGE WITH THE SAID ENGAGEMENT. THIS WILL JUST RUIN MY REPUTATION. IT IS HIGHLY GOOD BECAUSE OF THE PROFIT IT WILL BRING BUT THE PEOPLE AROUND ME WILL SUFFER BECAUSE IT IS NOT GOOD FOR THEIR HEALTH. ALTHOUGH IT IS A GREAT OPPORTUNITY FOR MY FIRM BUT IT WILL JUST HIT MY CONSCIENCE BACK. BY REJECTING THE PROJECT, MANY PEOPLE WILL BE AT PEACE.
Case 5
ReplyDeleteIn this case, I will do what I think is right. An that is I have to follow what have the president instructed to me. Provided that that whatever her expectations, findings and recommendation are will coincide with mine. With that we could have a better relationship with each other. And also to be more useful to us and with the firm.
Case 7
No, it is unethical to accept the engagement being offered. It is because I don't think that it would be the right thing to do. Yes, I have to hold the expectations of the people for the past few engagements that has been successful. But I also have to consider the fact that it would be affect the lives of its possible users. To think that success is not the key to happiness, but happiness is the key to success. So do if you love what you are doing, you will be successful.
Case 5
ReplyDeleteAs the said agreement that the firm should analyze how the system gone in the top management including the President. I think, the President is not necessary to give suggestions regarding how it would be the findings or the result of the process. Supposedly, the firm has been hired for the consultation so the firm would suggest what to be implemented. What for any consultation if they don't follow their consultants suggestions towards the system. Better have an agreement between the company and the consulting firm for the improvement of the system.
Case 8
I think I would not accept this proposal for the reason that the city is a medium-sized. For having a 10 % of the total fee that would spend for the organization, of course! It would lower a specific fund for the firm. It will be a nice idea to ask consultant whether this proposal os a practical way to higher ytour visibilty on a firm. But if think theres a guarantee that it will give a benefot for the firm then so be it. Actually, a 10% expenditure would not be realized for the success after the proposed program would be achieved.
JENELYN FUENTES FMA IV-A
ReplyDeleteCase 2
Professional top improve efficiency people or workers of the entire organizations as well as firms should how one mind and soul towards their effective goal. They should arrive at before the time of working hours. Improve self-esteem and relationships to co-workers and maximize the works.
After the exhausted study if the president have the right to remain and given the chance to explain to the company. He should be given the authority to fight for his rights and explain his part. It’s all about the BOD to continue or conclude to remove the president
Case 5
I will tell the president that I already made the recommendations and the findings on the said projects according to what he expected. But the conclusion of the study must be made by all who is involved because maybe my conclusion is not the same to others. For we are engaged to make recommendations and conclusions out of the study and not out of the instruction of the president of the manufacturing firm that we are studying. I should make the conclusions out of the study.
Case 1
ReplyDeleteIf I discover illegal payments, fraud and other questionable management practices, I will wish to obtain professional advice from the relevant professional body or legal advisors, and thereby obtain guidance on ethical issues without breaching confidentiality. Being a consultant I will determine the appropriate course of action that is consistent with their problems. I will tell to my junior consultant that we need to respect the confidentiality of what happening on the organization. I will consult also to those who charged with the governance of the organization, such as the board of directors or the audit committee.
Case 8
I will accept this arrangement because through this evaluation program for all employees, it will help them to improve their work effectively and efficiently. Not because to the fees that they will extend to us but the duty of being a consultant is to accept any engagements but it must be in ethical behavior. Having a little knowledge in the firm, it will help us to do our job easy. And being a consultant I should not allow bias, conflict of interest or undue influence of others to override professional or business judgments.
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ReplyDeleteCASE NO.2
ReplyDeleteIn this case, conflict arises between my firm and my client because base on the relevant data gathered, the results shows that the president should be removed from his position. The reports made by team should be responsive to the objectives and scope of the engagement. Thus, as a consultant, it is my duty to act in the public interest and not exclusively to satisfy the interest of my client alone. I may also consider consulting with the board of director or the audit committee, or if this conflict cannot be resolved, I may wish to obtain professional advice from the relevant professional body or legal advisors without breaching confidentiality. And if after all, the conflict remains unresolved, it is appropriate to resign from the employing organization.
CASE NO.5
The president’s act clearly shows how he wanted to impair and mislead my study which is a very unethical and a BIG NO in doing my responsibility. As a professional accountant, it is my obligation to act with integrity and objectivity and of course be independent in mental attitude. Thus, I must communicate the results on my study especially the recommendations and findings fairly without false or misleading statements. I should not allow bias, conflict of interest or undue influence of others even the president who hired me just to override and satisfy his personal interest. But I still have the option to withdraw if conditions develop and it will interfere with the successful conduct of my study.
Case 4
ReplyDeleteHaving a consulting firm that has an outstanding reputation in conducting feasibility study, I would not accept any engagement that can destroy such good reputation. Before accepting an engagement you need to see to it that you discuss thoroughly to your clients your duties and obligations regarding the study. As a well operating firm, you must conduct a study which is accurate and reliable with supporting information. Whatever the results of the study you will make conclusions and recommendations from it which is appropriate for the goodness of the company even if it is not the one the company feels and assumes to be.
Case 5
My appropriate response to the president would be:
“With all you respect Sir, our duties is to conduct a study with integrity, competence and objectivity. So whatever the findings and recommendations we can get to make certain conclusions about the top management it must be accurate and reliable. So if you don’t agree with me we are willing to withdraw from the engagement because what you are instructing me to do can impaired our firm integrity and objectivity so whether you like it or not, I cannot alter and change whatever the results of the study may be. It is for the own good and success of your company.”
Case 2
ReplyDeleteAs the consultant I recommend that the overall policy of company and its organizational structure is more effective and efficient if the currently president of the company should remove to his position. After this exhaustive study, I will say right away to the president the conclusion that I arrived is based on the sources that I’ve studied with sufficient relevant data and with integrity and objectivity and also an independent mental attitude.
Case 6
As an internal consultant of the company, I recommend that it must be change management although the person involve here is the guy who signs my paycheck. But the knowledge of knowing that you have contributed to an organization’s positive change of operations can be very fulfilling. So as an internal consultant I suggest appointing an external management consultant to make my recommendation and evaluation more reliable and with integrity.
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ReplyDeleteJerramae Palma FMA 4C
ReplyDeleteCase 1
My response to this comment is that as a professional he should respect the confidentiality of information acquired as a result of professional and business relationship and should not disclose any such information to third parties without proper and specific authority unless there is legal or professional right or duty to disclose. Confidential information should not be used for personal advantage of the professional accountants or third parties who accidentally open a confidential information. Professional accountants should maintain e confidentiality of information in social environment. We should set a meeting and discuss about the clients confidential information that has been completely open. You ensure that the staff under the accountant control and persons for whom the advise and assistance is obtain respect the professional accountants duty of confidentiality.
Case 2
As a part of the company we should undergo to a very sensitive decision to make an overall policy study of the business and the organizational structure to determine actions that would improve the efficiency of the firm. The president should comply with relevant laws and regulations and should avoid any action that discredits the profession. In promoting themselves and their work, professional accountants should not bring the profession into disrepute. President should be honest and truthful to his work as a leader of the firm. The president is maybe good in different aspects of the firm.
Case 5
ReplyDeleteThe Code of Ethics for Professional Accountants in the Philippines Relevant to Management Consultancy, speaks of the principle of objectivity which reveals that bias, conflict of interest or undue influence should not be allowed to override any professional or business judgement. In this case, my firm will never allow the president to influence my judgement pertaining to a study of top management. For it is certain that unduly influence or bias that could influence the professional judgement must avoided. Clearly, in this situation I will never allow him to impair my objectivity. So, I will never ever compromise my professional judgement.
Mary Joy Esclamada FMA 4C
ReplyDeleteCase 6
Having consider this issues, a professional accountant should determine the appropriate course of action that is consistent. The professional accountant should also weigh the consequences of each possible course of action. If the matter remains unresolved, the professional accountant should consult with other appropriate persons within the firm or employing organizations for help in obtaining resolution. If the matters involves a conflict with or within, an organization, a professional accountant should also consider consulting with those charged with governance such as board of directors or audit committee.
Case 7
It depends on the sole owner of the management to accept or not the engagement, because a professional accountant should be honest and truthful in terms of marketing and promoting themselves into work. Professional accountant should not bring the profession into disrepute. A professional accountant should consider the advantages and disadvantages of the recently offered contract and the effect to the people who are willing to buy the product.
Jance Poblador FMA 4C
ReplyDeleteCase 2
The action should i take is to tell the management that the president is not efficient to handle this firm. Because I see the evidence that he is not the one to improve the efficiency of the firm. He must be fire out. He must need to comply to the professional accountant because this professional accountant is entitled to prior experiences acquired.
Case 7
If I were the sole owner of my own management consulting practice I will accept the engagement. Tobacco is the major selling in the business. Most people in this country are smoking. So, I gain more profit,Investors, Investment. I will not mind that i'm not smoking but for the sake of my business.
case 5: I highly recommend to the top management that improved competitive position. In manufacturing firm it is better to undergo significant transformation. manufacturing firms should posses more innovative in both new processing technologies and administrative practice. An aggressive manufacturing technology policy can make a big difference in this study.
ReplyDeleteCase 15
The possible implications of this study is to adopt a competitive accounting system. The management must prefer to have a critical thinking about this problem. She must improved her skills to come up the good idea. It is better that the management will provide a management advisory and consulting services.
case study#8
ReplyDeleteYes, it is ethical because in evaluating compliance with the fundamental principles, a professional accountant maybe required to resolve a conflict in the application of fundamental principle. And there are relevant facts ethical issues involve, fundamental principles related to the matter in question established internal procedures and alternative source of action. It maybe in the best interest of the professional accountant to document the substance of the issue and details of any discussion held or decision taken, concerning that issue.
case # 5
ReplyDeleteMy response make some sufficient relevant data to be obtained, documented, and evaluated in developing conclusion and recommendation. The source of reliability of the data and any limitations with respect thereto must be considered in formulating conclusion. All significant matters relating to the results of the engagement are to be communicated to the clients. A professional accountant should make clients employers or other users of the professional services aware of limitations inherent in the services to avoid the misinterpretation of an expression of opinion as an assertion of fact. Diligence encompasses the responsibility to act in accordance with the requirements of an assignments carefully, totally and on a timely basis.
Hello Sir!!
ReplyDeletedo you have an asnwer for Cas 9, 11, 12 and 13. please
ReplyDeleteA debt of gratitude is in order for giving late reports with respect to the worry, I anticipate read more. tandremme
ReplyDeleteAP exam score distribution When your website or blog goes live for the first time, it is exciting. That is until you realize no one but you and your.
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