This paper stresses that one of the important facts to the case is Colin’s involvement in the act of purchasing the equipment and hiding it from the company and the fact is important because of the conflict of interest in it and its effects on involved stakeholders that establishes a dilemma. …
As that paper outlines, following the formal procedure for purchase of equipments whose costs are more than $ 50000 could have taken time and deprived the department of the short term returns and also the advantage of low cost of the equipment. Failure to ensure technical support however undermines the potential benefits.
Another important fact to the case is Colin’s failure to disclose the decision and action that Jeff and he took and this identifies an ethical dilemma. Rose has been supportive to Colin and is good at offering advice. He is also Colin’s senior and Colin fears that possible disclosure would lead to his sacking even before arrival of corporate representatives. Continued concealment of their decision however means that he continues hiding costs until the corporate department knows about the issue.
Another important fact to the case is Colin’s reaction to other people. He demonstrates harshness on his child and his wife complains of his over-commitment to work. Other people such as workmates could also be victims of Colin’s hyperactivity and this is an ethical issue as he could be subjecting people to unnecessary psychological harm .
The reporte stresses that "in the situation, I would approach Rose and discuss the situation with him, expressing my sincere remorse. I would explain to him reasons for my failure to disclose cost of acquisition and expenses on the machine, contrary to reporting standards by IFRS 7 and identify morality of my action. According to utilitarian ethics, an act is only immoral if it leads to greater harm to a greater percentage of involved stakeholders and even though the purchased equipment has not been used in the organization, its use could benefit all involved stakeholders to identify morality of the decision." ...
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(The Cover-up Most Important Facts Case Study Example | Topics and Well Written Essays - 1000 Words - 24)
“The Cover-up Most Important Facts Case Study Example | Topics and Well Written Essays - 1000 Words - 24”, n.d. https://studentshare.net/finance-accounting/722888-case-study.
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