Ethics

Question 1

General answering to ethics

Answer 1

-When considering whether a decision is good for oneself and others, one
needs to consider and act in the best interest of all relevant stakeholders
-Might need to consider CPC

• Good for self and others ( what will improve)
• Consider if there is a breach of South African laws and regulations to pay a bribe, thus illegal (Mention legislation that could be available )
• Mention if any fines or penalties will be paid
• Include standards and legislation if applicable
• Argument for and against
• Mutual benefit? Intention?
• Legality vs Morality?
• Use common sense
• Conclude

Mention following reporting requirements:

• ISA 265_reporting this control deficiency to TCWG
• Consider RI
• NOCLAR must be reported due to NOCLAR
• Reason and motive
• These actions are illegal in terms of SA law (e.g. Prevention and Combating of Corrupt Activities Act and also Taxation laws / Price fixing
• Negative consequences
• Compromise ethical culture

Question 2

Make reference to professional and ethical standards

Answer 2

• CPC
• ISQC1
• ISA 220

Question 3

Discuss your concerns, from an ethical perspective

Answer 3

• SAICA Code of Professional Conduct
• Section 29 of the Co Act
• S76/S77/S22
• Consider other legislation

Question 4

Ethical and corporate governance

Answer 4

• Business ethics
• King IV
• RI