COLLEGE OF ARTS, SOCIAL AND MANAGEMENT SCIENCES (CASMAS)

DEPARTMENT OF ACCOUNTING, FINANCE AND TAXATION

MID-SEMESTER EXAMINATION FOR FIRST SEMESTER
2023/2024 ACADEMIC SESSION

Course Code: ACC 407

Course Title: ETHICS AND CORPORATE GOVERNANCE
INSTRUCTION: Attempt ALL QUESTIONS

Question One

Corruption and Fraud undoubtedly are the current hot-button topics in Nigeria because of the series of investigative
works on the immediate past government. Admittedly, the aftermath of this saga has exposed the modus operandi
of typical bureaucratic fraudsters, but beyond that, it has also shown the sinister nature of corruption by the very
people who are supposed to protect the country and more importantly illustrated the evil effects of corruption on
the Economy of Nigeria. DISCUSS.

Question Two

Ethical dilemmas are problems faced while making decisions in organizations. They are conflicts between
economical performance and social performance, with the social performance being expressed as obligations to
employees, customers, suppliers, distributors and the general public (Hosmer, 1987 in Nnabuife and Ikon, 2008).
Ethical dilemma is a problem, situation or opportunity that requires an individual, group organization to choose
among wrong or ethical actions (Ferrell, Fraedrich and Ferrell, 2008, p.63). In some cases of ethical dilemmas,
some options appear to be right against other wrong or probable wrong options. In such cases Normative ethics
suggests, four approaches (Koranteng, 2010, p.11). DISCUSS

Question Three

(a) During the course of your audit work for your client, you discover that an employee of the client has been
engaged in a fraudulent activity. You are not entirely certain that fraud has occurred. Discuss the
consideration and implication of whistleblowing in this case.

(b) Describe Kohlberg’s stages of moral reasoning and development.

Question Four

(a) Analyse the influence of corporate governance on shareholders.

(b) How do you dilute the influence of power play among board members in an organization?

Question Five

(a) Narrate the 7-level classification of Gray, Own and Adams on Social Responsibility
(b) Describe in detail the fundamental principles of ethical conduct of a professional accountant.

Question Six

(a) What do you understand by corporate social responsibility?

(b) What is the relationship between corporate strategy and ethics?