Question 1 (10 marks) Ethics and Governance

Question 1 (10 marks) Ethics and Governance – The collision of a benefit rousing proposal on the financial statements Lucia works as an accountant for a motor demeanor engine cleverness manufacturer designated Vroom Ltd, owned by an interdiplomatic car determined. Her supervisor, Freda Chuse, is hired a benefit depfulfilment on the emolumentability of the posse. If Vroom Ltd constitutes $1 darling emolument, Freda receives a benefit of $20 000 that increases progressively to $30 000 for a $3 darling emolument. If the emolument of Vroom Ltd abounds $3 darling, Freda receives the acme benefit of $30 000. Vroom Ltd generally receives a yield from the synod of $100 000 per year to exercise and suite apprentice mechanics. At the end of May, it appears that Vroom Ltd conquer constitute a emolument of closely $3.5 darling for the year fulfilment 30 June 2016. Freda approached Lucia and said that if the posse made too considerable emolument then the synod may seal paying Vroom Ltd the yield for suiteing apprentice mechanics, and it would endanger the $100 000 tax-free coin inflow. Freda instructed Lucia to ascertain ways of postponering acknowledgment of as considerable enrichment as potential until the forthcoming financial year, for which the forecasts for the assiduity were entirely bald, and to increase as divers expenses as potential at the end of the general accounting determination when it came to making the end-of-determination adjustments. Although Lucia was not merry delay this direction, she did not neglect to imperil her own opportunities for advancement by upsetting her supervisor. Required A. Who are the stakeholders in this office? B. Why do you believe Freda asked Lucia to do this? C. What are the incorporeal issues confused her? D. Can Lucia postpone enrichments and increase as divers expenses as potential and peaceful be incorporeal? Note: Your apology should not abound 700 expression. Question 3 ( 15 marks ) Ethics and Governance Review the CPA and ICANZ websites (links under) and transcribe a inample yarn quoting three novel examples (2016 and 2017 solely) to conduct how breaches of incorporeal standards were seriously treated by the administrative organisation. Required: 1. Explain why the penalties were imposed (5 marks) 2. Referring to APES 110 standards (available on Moodle), which sections should possess applied to your three mentioned examples? (5 marks) 3. Were the penalties imposed by the accounting bodies ample? Give reasons. (5 marks) Note: Your yarn should not abound 1,000 expression. Novel examples should be poor to between 2016 and 2017. Use Harvard Referencing. Hint: You must to apply to: https://www.cpaaustralia.com.au/about-us/member-conduct-and-discipline/outcome-of-disciplinary-hearings http://www.charteredaccountants.com.au/The-Institute/Member-complaints-and-discipline/Tribunal-decisions

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