The current economic conditions have tested the role of managerial accountants, challenging them to remain independent in mind and spirit when contributing to the decision-making processes of a business. Maintaining ethical standards and adhering to rules set by governing bodies at the local, state, and federal levels are needed to ensure both client and public trust.
To complete this assignment, prepare a 4–5-page paper in which you address the following:
- Identify the accounting governing bodies in your state and describe their role as it applies to setting ethical behavior and the fiduciary duties of a managerial accountant.
- Research the accounting industry and select a case from within the last three years in which ethical accounting standards were compromised. Describe the ethical violation(s) outlined in the case.
- Propose internal controls that should have been in place to prevent an ethical violation.
- After assessing the case you selected, describe how your thinking on the importance of ethics in managerial accounting has evolved during the course of this term.
- Use three sources to support your writing. Choose sources that are credible, relevant, and appropriate. Cite each source listed on your source slide at least one time within your assignment. For help with research, writing, and citation, access the library or review library guides.
This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course.The specific course learning outcome associated with this assignment is:
- Assess the importance of ethics in managerial accounting.