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Ethical Dilemmas in Financial Management: A Case Study Of Harmony, the Senior Accountant

Integrity in Financial

Accounting is a fundamental tool for the long-term growth and development of any profit

organization. Harmony's behavior is improper and very unethical from an ethical perspective. By

inflating sales income, she is knowingly falsifying financial figures, which is against both

business policy and accounting principles. Even though her activities undermine the integrity

and accuracy of financial reporting, she is motivated by a desire to prevent branch closures and

job losses.

Harmony's actions might have fatal effects such as legal repercussions for fraud and financial

misconduct. Harmony and anyone else participating in the falsification of financial statements

may be subject to fines and/or jail time. Also, if it is discovered that financial statements were

falsified, the bank's reputation may be severely damaged. Stakeholders, customers, and investors

can consequently lose faith in the business. The management and stakeholders of the bank may

be misled by false financial statements, which could ultimately lead to poor judgments and

financial mismanagement.
If the bank violates the laws and regulations governing financial reporting, regulatory authorities

may take action against the organization. Also, If branch closures are imminent due to

substandard performance, Harmony's attempts may only serve to delay the inevitable and

ultimately lead to more job losses. Harmony's actions also go against her own moral principles

and professional ethics, which might potentially harm her career.

I would suggest that Harmony might consider discussing her concerns with her management or

the bank's internal compliance and ethics department. Because she reported unethical behavior,

she might be protected by whistleblower policies from retaliation. Harmony might work with the

underperforming branches to identify areas for improvement and develop plans to help them

surpass their sales targets rather than fiddling with financial reports. She should contact financial

experts or consultants who can guide how to address the matter within moral and legal

constraints if she believes there are valid explanations for some branches' underperformance.

In the end, Harmony should give top consideration to ethical behavior, compliance with

corporate policies, and financial reporting standards while searching for solutions that do not

threaten the veracity of financial records.

Works cited
Independence rules comparison: "AICPA and Government Auditing Standards", February 2022