Running Head: ETHICS AND FINANCIAL MANAGEMENT
Ethics and Financial Management
ETHICS AND FINANCIAL MANAGEMENT
Ethical dilemmas are often experienced in a professional organization and will be
encountered by internal auditors. The internal auditors of a company have to apply various
principles found under the code of ethics that will not only encourage the auditors to be
competent but will also want confidentiality, objectivity, and integrity to be maintained.
When one or two or all of the principles are absent, then an ethical dilemma shall be
experienced within the organization, which in this case study will be Zaird & Associates,
CPAs (García-Marzá, 2005).
The problem identified in this case study will be a lack of competency. Sarah who has
worked for the Associates firm is not competent. The level of competency needed in auditing
will require the auditor to employ the knowledge learned in school and through experience,
where the knowledge and skills will be necessary to ensure that the performance of the audit
services is efficient. Additionally, the auditing should be done as per what the standards of
internal auditing will dictate. It should be not only proficient but also practical, and the