Question

Art is an accountant for a financial services company. An employee from the marketing department, mihir, asks to see a preliminary copy of the next financial report. When art mentions that it would be unethical, mihir points out that they work at the same company, and he would be willing to pay $100 for it. Art should

Answer 1

Answer

Art should refuse because it is unethical as per the accounting ethics to receive bribes or disclose confidential information.

Explanation

Art is an accountant who is the key personnel that access the financial information of individuals and entities. This position involve the power that involves the potential and possibilities for abuse of information, manipulation of numbers and enforced earnings. Art is required to act ethically in auditing and all his accounting activities including provision of accounting information to other staff. One of the important rules that Art should observe in this case is confidentiality where accountants must not disclose any information regarding transactions and clients to individuals that are not authorized.