Review the Case Study: Atlas Cold Storage Inc. (Links to an external site.)
Cheating occurs at many levels within a firm. In the case study, the president engaged in several questionable activities with the company’s financial statements. What might have been the ethical decision that Ernst & Young (E & Y) faced with the client?
- After reading the charges made by the OSC, explain how a deontological approach may have helped avoid each charge.
- What are the duties of management and ownership in regard to the stakeholders of Atlas? In what ways did management fail?
- What items should have been noticed by the auditors?
- Describe any specific internal controls that might have prevented this situation.
Your written paper should be 4-5 pages in length not counting the title and reference pages, which you must include.