WGU D550 Task 1 Ethics for Accountants
|Passed on First Attempt |Latest Update with
Complete Solution
D550 – Ethics for Accountants
Brittany Perry – Student ID 012553562
Task 1
A. Ethical Decision-Making Model
-Ethical Sensitivity
A deficiency was discovered in the clients’ inventory system, where some items were double-
counted. Although the amounts are small, GAAS requires senior staff to be informed to
implement an action plan to correct the double-counting problem.
The stakeholders are the client, investors, and the auditors.
The ethical and professional standards that apply are due care and integrity. Auditors should
always diligently complete their work, ensuring accuracy and preventing oversight. As a
professional, Barbara should act with integrity, disregard the potential budget increase, the
current workload, and other issues the other team members brought up, and do what is right.
-Ethical Judgement
The company can be exposed to legal issues when not following GAAS, even more so if the
deficiency is bigger than expected.
Barbara can follow most of the audit team and not bring the problem to senior staff, but this
option makes her very uncomfortable. This has the potential to cause a bigger issue with the
audit.
, Barbara can go against her team's decision and inform senior staff. This decision, for Barbara's
comfort level, is the best option. This may cause tension on the audit team and against Barbara.
-Ethical Motivation
Egoism should be Barbara's ethical motivation because maintaining her integrity is more
important than doing something she knows and feels is wrong. It is essential to consider the
potential outcomes of both decisions to see if the results are something you are happy about and
can live with.
Rule Utilitarianism represents actions that conform to general rules (Mintz & Miller, 2023, pp
15). In Barbara’s situation, the decision that would “produce the best consequences without
violating certain rules” would be to inform senior management of the discrepancy found and
allow them to devise a plan to obtain more accuracy in the counting process (Mintz & Miller,
2023, pp 15).
-Ethical Behavior
Barbara must speak with her colleagues and explain why taking this discrepancy to senior staff is
essential. As accountants and auditors, we have a duty to the public to ensure that our audits are
completed according to professional standards. She should also remind her colleagues of the
penalties they could face, both legal and civil, should this matter go unreported. Ultimately,
Barbara should try to get every member on board by doing the right thing, but even without their
support, she should decide to inform senior management.
B. Giving Voice to Values Methodology
|Passed on First Attempt |Latest Update with
Complete Solution
D550 – Ethics for Accountants
Brittany Perry – Student ID 012553562
Task 1
A. Ethical Decision-Making Model
-Ethical Sensitivity
A deficiency was discovered in the clients’ inventory system, where some items were double-
counted. Although the amounts are small, GAAS requires senior staff to be informed to
implement an action plan to correct the double-counting problem.
The stakeholders are the client, investors, and the auditors.
The ethical and professional standards that apply are due care and integrity. Auditors should
always diligently complete their work, ensuring accuracy and preventing oversight. As a
professional, Barbara should act with integrity, disregard the potential budget increase, the
current workload, and other issues the other team members brought up, and do what is right.
-Ethical Judgement
The company can be exposed to legal issues when not following GAAS, even more so if the
deficiency is bigger than expected.
Barbara can follow most of the audit team and not bring the problem to senior staff, but this
option makes her very uncomfortable. This has the potential to cause a bigger issue with the
audit.
, Barbara can go against her team's decision and inform senior staff. This decision, for Barbara's
comfort level, is the best option. This may cause tension on the audit team and against Barbara.
-Ethical Motivation
Egoism should be Barbara's ethical motivation because maintaining her integrity is more
important than doing something she knows and feels is wrong. It is essential to consider the
potential outcomes of both decisions to see if the results are something you are happy about and
can live with.
Rule Utilitarianism represents actions that conform to general rules (Mintz & Miller, 2023, pp
15). In Barbara’s situation, the decision that would “produce the best consequences without
violating certain rules” would be to inform senior management of the discrepancy found and
allow them to devise a plan to obtain more accuracy in the counting process (Mintz & Miller,
2023, pp 15).
-Ethical Behavior
Barbara must speak with her colleagues and explain why taking this discrepancy to senior staff is
essential. As accountants and auditors, we have a duty to the public to ensure that our audits are
completed according to professional standards. She should also remind her colleagues of the
penalties they could face, both legal and civil, should this matter go unreported. Ultimately,
Barbara should try to get every member on board by doing the right thing, but even without their
support, she should decide to inform senior management.
B. Giving Voice to Values Methodology
