Respond to weekly discussion questions:-
• Many professionals believe it is impossible to regulate ethics. Yet, the SEC and other federal agencies provide rules, regulabons, and laws surrounding corporate governance. How effective are the legal processes in regulating corporate governance? Provide an example.
• Executive officers within an organization will often feel compelled and tempted to emphasize short-term results-net income for the current yew-over long-term success and company survival.
Why would they be so inclined and what are the ethical implications of overemphasizing short-term results over long-term success and solvency?
Resource: Ethics Case 7-4: Excello Telecommunications in Ch 7 of Ethical obligations and decision making in Accounting.
Write a 1200 to 1500 word paper explaining the legal aspects. financial standards involved. and ethicality of the Excello Telecommunications case.
Paper should include the following.
• Identify the legal issues involved-consider slate and federal laws-and explain how they apply to the case.
• Determine the criteria by which Sarbanes-Oxley would apply to this case.
• Identify the specific financial reporting standards involved and explain how those standards were violated.
• Evaluate the financial reporting activity in terms of the AICPA of Professional Conduct.
• Determine the ethicality of the events within the case.
• Select the best alternative offered by the team. Defend your in terms of its legality, and alignment with accounting standards.
Format paper consistent with APA guidelines.