Name: Quiana Jane T.

Estember
Course/Year: BS Accountancy 3
Section Code: 3B

Case 1
Dangerous Food Products (2023): Meat processor Century Pacific Corporation recalled meat
products after testing positive for salmonella, potentially endangering consumer health.

 Briefly write the context or background of the ethical misconduct. (provide details)
In 2023, the meat processor Century Pacific Corporation issued a recall on its
meat products because they found salmonella in it. This made people worried about
getting sick if they had eaten the meat.
 Identify the ethical issues involved. (explain further)
 Integrity: It may be asked if the company was sincere and truthful in its
dealings with customers and law enforcement. It would be an injustice of integrity if
there were any attempts to conceal or downplay the issue.
 Consumer Safety: Concerns concerning the company's dedication to public
health and safety are raised by the fact that the meat products were not tested for
safety before being marketed.
 Transparency and Disclosure: The company's communication and honesty
about the issue, including how much of the meat was contaminated and the potential
health risks, are important ethical considerations. Professional Behavior: The
company's behavior towards consumers, regulatory agencies, and other people
involved during the recall process is also an ethical concern. Acting with politeness,
respect, and professionalism towards affected consumers and other people involved is
important.
 Professional Competence and Due Care: The company's responsibility to have
high standards of expertise, knowledge, and carefulness in making sure their products
are safe is an ethical consideration.

 Choose ethical principle/s violated in the situation. (justify your answers)

 Integrity. : The company didn't make sure the meat was safe before selling it,
which could make people sick. This makes people worry about whether the company
is being truthful, honest, and fair in their work. The company needs to be open and
honest about the problem of showing integrity and keeping people safe.

 Reflect on the consequences and lessons learned from the case.

The company's reputation might be ruined, customers could become unwell,
and the company could face legal issues as a result of the salmonella found in the
meat products. The corporation failed to ensure the safety of its products, which might
have led to health conditions and damaged the company's reputation.
This situation shows how important it is to make sure food is safe before
selling it. To ensure consumer safety, companies must use extreme caution while
 examining the quality of their products. Businesses must work with the government to
resolve any problems that may occur with their products. Promoting ethical corporate
practices that protect the public's health and safety, honesty, openness, and
professionalism is crucial.
Moving forward, Century Pacific Corporation and other food companies can
learn from this and make sure they are committed to making safe products, being
honest, and talking openly with customers and the government. This is a reminder for
companies to think about what's right and take responsibility for how their products
affect people and society. By being careful about quality, keeping people safe, and
following good principles, companies can prevent similar problems in the future and
rebuild trust with customers and others involved.

Case 2
WorldCom Accounting Scandal: Inflated revenue led to a massive corporate fraud, impacting
investors and employees.

 Briefly write the context or background of the ethical misconduct. (provide details)

The WorldCom accounting scandal involved the company inflating its

revenue, which led to a huge case of corporate fraud. This had a big impact on
investors and employees.
 Identify the ethical issues involved. (explain further)
 Integrity: WorldCom lied about how much money they were making, which
broke the trust of the people who invested in the company. This caused a big fraud.
 Objectivity: WorldCom changed the financial information to make the
company look better than it really was. This made people make decisions based on
wrong information.
 Professional Competence and Due Care: WorldCom didn't do a good job in
accounting because they were dishonest. They didn't meet the standards for being
careful and skilled in reporting financial information.
 Professional Behavior: WorldCom did bad things by changing the financial
records and not being honest about the company's money. This goes against the rules
for being honest and clear in accounting.
 Choose ethical principle/s violated in the situation. (justify your answers)
 Integrity: WorldCom did not act honestly when they made their revenue seem
higher than it really was to trick investors and others, causing a big fraud.
 Professional Competence and Due Care: WorldCom did not show that they
were good at their job and careful when they did their accounting. They did not act
professionally when they made their financial reports and decisions.
 Professional Behavior: WorldCom behaved badly by changing their financial
records and not telling the truth about their money situation. This is not how a
professional should act in accounting.
 Reflect on the consequences and lessons learned from the case.
 The WorldCom accounting scandal had serious consequences. The company's
deliberate inflation of revenue led to a huge corporate fraud that affected investors and
employees. Many people lost money and trust in the company, and it damaged the
reputation of the business world.
From this case, We have to take away from this case the importance of
integrity and openness in financial reporting. Businesses must be transparent about
their financial performance in order to safeguard employees and investors. It also
demonstrated the importance of strict control and laws to stop fraud of this nature
from occurring in the future. To preserve integrity and confidence in the financial
sector, customers as well as businesses must abide by the law and ethical norms.

How can I be Ethical/Moral as an Accountant or Business Person?

Professional life requires commitment to ethical principles. It's because they
direct our actions and choices. As an accountant or business person, I must work with
honesty, transparency, and consistency as I want to preserve my integrity. Ensuring
equal opportunities for all and treating everyone with respect are important aspects of
prioritizing my fairness. Taking ownership for my acts and weighing the effects on
others are important steps in making my responsible decisions.
To uphold my integrity, I must consistently be truthful that involves preventing
myself from doing unethically, even when doing so may appear beneficial. Treating
all stakeholders fairly and with respect, regardless of their position or background, is
an important part of prioritizing my fairness, as said by C.S. Lewis, who once
remarked, "Integrity is doing the right thing, even when no one is watching." It refers
to avoiding prejudice and bias to guarantee that everyone has equal opportunity. As
Brit Hume said, "Fairness is not an attitude. It's a professional skill that must be
developed and exercised." The ability to make responsible decisions is a professional
skill that needs to be developed and practiced. As Martin Luther King Jr. once stated,
"The time is always right to do what is right," this emphasizes the importance of
making moral decisions at all times. I find it important to consider how my decisions
will affect everyone involved. I also find it important to maintain my ethical
principles in the face of pressure to act quickly to achieve immediate benefits.
My definition of ethical consciousness and continuous learning is making a
commitment to lifelong learning and instruction in moral principles. To maintain
ethical behavior, it additionally includes keeping up with industry standards and best
practices. The famous quote from Albert Einstein, "The only source of knowledge is
experience," emphasizes the need of lifelong learning and acquiring real-world
information.
In conclusion, maintaining my ethical principles at work is critical to
establishing honesty and trust. To me, it is important to make a commitment to
upholding ethical behavior on a regular basis in order to have a positive influence in
the world of business. I can help create a more ethical and sustainable workplace by
putting ethical principles first.