(a) Mr. Mittal is an accountant of a company. He passed a dummy entry without transaction proof in order to match the trial balance of the company. He did not tell this to his boss. What value is missing in Mr. Mittal's conduct ?
(b) There is an item appearing in the trial balance as "business gift". On audit of the accounts, it was found that this item reflects the bribe given to a government official which shown as to business gift. Do you think the company is following the right value in the conduct of its business?
(a) Mr. Mittal is an accountant of a company. He passed a dummy entry without transaction proof in order to match the trial balance of the company. He did not tell this to his boss. What value is missing in Mr. Mittal's conduct ?
(b) There is an item appearing in the trial balance as "business gift". On audit of the accounts, it was found that this item reflects the bribe given to a government official which shown as to business gift. Do you think the company is following the right value in the conduct of its business?
(a) In this case, Mr. Mittal did not follow the value of the trust as he should not have passed a dummy entry without consulting his seniors in the organization. This may create the problem at the time of audit of the books of accounts of the company.
(b) The Company is not following the value of an ethical way of carrying business. The company should not indulge in giving or taking bribes to take undue favors to form government officials.
(a) In this case, Mr. Mittal did not follow the value of the trust as he should not have passed a dummy entry without consulting his seniors in the organization. This may create the problem at the time of audit of the books of accounts of the company.
(b) The Company is not following the value of an ethical way of carrying business. The company should not indulge in giving or taking bribes to take undue favors to form government officials.
