Certified General Accountant Essay

As a Certified General Accountant (CGA), moral philosophy are a fundamental requirement. CGAs affect the welfare of their thickenings and also the wider stakeholder-society. It is polar to work in accordance with the six CGA Canada Code of Ethical Principles. fraud and negligence do occur however and they have negative implications on the professional, the client, the professional body, and society as a whole. For example, in the case of Kelley lynch, she was indisputable by her client, Leonard Cohen, to work responsibly as his business manager (Malemed).Unfortunately, her activities whoremonger be analyzed to demonstrate how she failed to act responsibly and forthwith break three ethical principles. lynch violated the ethical principle of affirm and Duties. As a professional accountant, Lynch failed to honour the trust that her client bestowed upon her and used her privileged position as business manager to run to her own needs. For example, Lynch conspired with Richard We stin to hire him as Cohens tax lawyer in order to cater to her self-interest With Westins help, they devised a hard corporate structure as a vehicle for retirement savings.pickings advantage of her privilege to access Cohens finances, she stole over $50 million. Another key violation is that she failed to remain independent in see and appearance, as she was once in a personal relationship with Cohen (Malemed). * * Lynch also violated the principle of Responsibilities to Society. She failed to uphold to responsibilities to society, which include acting with trustworthiness, single and objectivity.She failed to display these characteristics in her own actions and in her dealings with her colleague, Westin, while table service her client. For example, Lynch is entitled to 15% management compensation, however she broke Cohens trust by stealing more than $5 million of his savings, which is great than her defined compensation amount. She failed to act with integrity and objectivity, when her client took time dispatch from his career. She used this opportunity to receive more royalties through the scheme that Westin helped to prepare (Malemed).* * Lynch also directly violated the principle of Deceptive Information. As a professional accountant, Lynch failed to not be associated with information that is faithlessly or misleading. With Westins help, Lynch pretended to sell Cohens music-publishing gild and royalty for $12 million. Lynch falsely stated to Cohen that the money from the bargain would go to a company owned by his children, but sooner it went to a company almost owned entirely by Lynch (Malemed).* * In conclusion, Lynch failed to act responsibly with handling the finances of her client, Cohen and directly violated at least three of the six ethical principles. This is alone one incident of fraud and negligence that has occurred in professional explanation bodies. Therefore, to maintain the integrity and respect of the CGA profession, it is crucia l that members always act in accordance with the CGA Canada Code of Ethical Principles.