Free Power Software Inc Case Study Essay Sample
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Power software Inc was a well-known provider of accounting software that is needed by several business entities in auditing their financial reports and other matters the like. However, at the face of probable company downfall, the company's CEO was faced with the choice of either reporting the actual financial status of the organization and lower down its shares values in the market or cover up the reality to avoid the failure of investment interest that the company could get from prospect business partners in the international market. Sadly, although unethical, the CEO, CFO and the Controller chose to handle the problem through covering up the truth and falsifying the financial reports presented by the organization in the stock market. However, no secret could be continuously kept especially if it involves the financial status of a company that is involved in the international stock market. The violation was insistently affective to the status of the business and the reputation it has with its investors. In the process of embracing the approach of falsifying the reports, the company's officials actually formally neglected their professional responsibility to their primary stakeholders.
The fear of losing the investors and flunking the reputation that they have already established in the market practically pushed the CEO and the other officials of the company to respond to the situation through falsifying the documents on financial reportage. In the long run of continuing with this unethical act, the officials felt the possible option of higher end profit that they could gain from the process involved. However, the abrupt moves undergone by the said officials questioned the reputation of the company and rendered the investors dissatisfied hence exposing the fraud in the open.
If placed in the position of the auditor, I would be putting particular attention to the revenue reports that the company has with regards the current status of the organization and how well it has been doing in the past few years. Upon an observation of particular financial irregularities in the report, investigation should be proposed and expressing interest on the process of clarifying these issues should be pushed forward for reputable relationship with the organization involved.
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