Role of Accounting and Finance in Strategic Management
POST 1:
The Role of Strategic Accounting
Unethical accounting practices have headlined corporate scandals for decades. On the other hand, accountants and auditors are often the ones who find anomalies that lead to discoveries of fraud.
Module 3 Discussion Week 1 Resources
Accounting giant Ernst & Young admits its employees cheated on ethics exams (2022)
Accounting Ethics (2022)
The Accounting Profession and the Pandemic (2022)
Types of Accounting Fraud an SEC Whistleblower Should Look For (2022)
Week 1 Discussion Post
Based on the resources provided or your research, share two examples: unethical auditing practices and whistleblowers who find questionable accounting practices.
This post should be 2 paragraphs (150-200 words). Since you are engaging in research, cite in the body of the post and add a reference list in APA format.
POST 2:
Strategic Financial Implications
A crisis brings out the best and worst in organizations. While some rise to the occasion with innovations, others take advantage of the situation.
Module 3 Discussion Week 2 Resources
Persisting Problems: Exploring Four Small Business Challenges in a Post-Pandemic Era (2022)
A self-help guide for PPPs two years into the pandemic (2022)
Planning for Post-Pandemic Business Continuity (2022)
Week 2 Discussion Post
Based on internet research, share an example of a company (not a government or organization) acting positively in the area of finance in the post-pandemic era. Discuss how this affects the community as well as future implications for the business. (Do not use an example from the readings provided). (Research Support Required)
This post should be 2 paragraphs (150-200 words). Since you are engaging in research, cite in the body of the post and add a reference list in APA format
Role of Accounting and Finance in Strategic Management
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Role of Accounting and Finance in Strategic Management
Post 1
Similar to other professionals, the accounting profession has its ethical standards. However, there are instances where some individuals engage in unethical auditing practices. These practices are usually noticed by the accountants who act as whistleblowers. One of the unethical auditing practices that people have been committing is cheating in exams. To be certified, the professionals are supposed to pass the exams. However, some firms have been engaging in cheating. For example, Ernst & Young firm admitted that it facilitated its employees to cheat in ethics exams, which resulted in it being fined $100 million (GaNun, 2022). This unethical auditing practice was reported by an internal whistleblower highlighting a problem in the firm's software, permitting professionals to pass CPE exams even without having the minimum required correct responses.
The other common unethical auditing practice is inadequate internal controls over financial reporting. In most instances, the organization engaging in SEC should have internal control of its financial reporting or ICFR since it would help to record all the financial statements correctly and follow GAAP, therefore, reliable. Some people have violated ICFR by not properly recording or recognizing the transactions and costs (Brown LLC, 2022). There have been varying whistleblower forms, such as Brown, LLC, which awards insiders who report their companies for engaging in accounting fraud that negatively affects shareholders.
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