Ethics for Accountants

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Quinn wright
4/25/2016
Ethics for Accountants
What is the board’s responsibility to stakeholders other than shareholders? Even
though, the Canada Business Corporations Act (CBCA), the governing law, orders that the
responsibility of boards of directors is to act in the best interests of the corporation. My
interpretation is the board of directors main responsibility is to ensure the public.
Another responsibility is to ensure the public because the stakeholders and shareholders
are the ones that are keeping the companies alive and running. Without the people
companies wouldn't be able to aid its production or get product out to its consumers. ,
Another responsibility is to ensure the public because many shareholders and
stockholders are trusting in the companies that they are acting in good faith of the
community. The main responsibility is to ensure the public because the CEO, CFO and
other company o)cials are trusted to uphold the accounting and finance profession.
First, The board of director’s main responsibility is to ensure the public. Another
responsibility is to ensure the public because the stakeholders and shareholders are the
ones that are keeping the companies alive and running. Without the people companies
wouldn't be able to aid its production or get product out to its consumers e+ectible. I
believe that it is unethical for a company to allow all of its board of directors to act for
the company’s interests. Even though corporations have many internal controls such as
internal audit, audit committee, and external audit report; many companies over the
years have found other ways to commit fraud. Corporation's interests should overlap
with the interests of the all stakeholders. The chain of command start from the board of
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Quinn wright
4/25/2016
Ethics for Accountants
directors, then go to the actual corporation, shareholder, creditors, employees, and the
community. The most difficult part for the board of directors is to act in the shareholders
favor that does not avoid the directors from taking the concentration of the
corporation’s additional stakeholders. From my point of view, ensuring the public is
simply not lying to the public.
Additionally, Another responsibility is to ensure the public because many
shareholders and stockholders are trusting in the companies that they are acting in good
faith of the community. “Beyond Delaware, the constituency statutes, adopted during
the 1980s and early 1990s by some 30 U.S. states, are in9uencing the directors' duty of
loyalty and the definition of the corporation's interest. These special statutes have
modi*ed corporate law by recognizing the authority of the directors to consider the
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