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Issues Faced by Lisa from a Professional Perspective
According to Internal Ethics Standards Board of Accountant, objectivity is a key principle guiding the business and professional relationships between accountants. Objectivity is an imperative accounting principle that has to be taken into consideration in that; accountants should not allow conflicts and bias affect their duties and professional relationship (IESBA, 2013). In the case of Lisa and Mr. Anderson, it is apparent that there is a probability of conflict or bias occurring, especially caused by Mr. Anderson, who appears to be feeling inferior. In this case, Lisa should ensure that their relationship is objective and specifically focused on the organizational development.
There is also the aspect of inappropriately recorded accounting figures in the acquired company. Lisa has identified this challenge and this is one of the reasons she has to meet Mr. Anderson. However, the major issue that faces in this scenario, according to IESBA, is the fact that she has to ensure that she does not only perform a quantitative analysis, but also a qualitative analysis of the reasons why such issues had occurred. The International Ethics Standards Boards
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