Business Ethic and Conflict of an Insurance Broker

In the case “Conflict of an Insurance Broker,” Yes I think A&A would ethically responsible in its role as a broker by permitting the museum to make the poorer choice. A&A should present the low bid from Reliable. In fact, A&A should present all the bids to client and tell pros and cons about each to its client. As a broker, the work is not making decision but give advice. If it doesn’t present all option, it can be considered as conflict of interest.

In case of Real estate agent, showing only the houses in upper range in order to draw high commission is totally unethical. As a professional ethics, the agent should show all houses in the range and openly tell about advantage & disadvantage in each option. In order to get higher commission, the agent should not hide information about other houses from client.

What is morally objectionable with a practice that break has explain is that in spite of its not directly resulting in any kind of fraud or embezzlement of funds, the act is unethical as it misguides the top management of the organization by misrepresenting the sales figures for benefiting certain employees.

Instrumentation is only on the basis of time period and not amount there by it does not have any direct impact of funds. However, it can have large impact on the financials of the company and result in substantial losses for the owners. And the targets are based on these figures for subsequent periods, the owners are unaware of the true sales and achievements of the organization which results in substantial impact on future plans for growth and expansion of the organization.

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It also imbalances statements substantially resulting in the company not being able to leverage obtain Investments and funding which it could have with enhanced turnover.

Alison’s assessment is unethical as she is bound by the code of ethics as specified by Institute of internal auditors all members to exercise honesty, objectivity and divisions in performance of their duties, and be loyal to the Employer at the same time. In this case the manager is not the direct employer and she owes loyalty to the true owners of the company. By overlooking an important improper activity and failing to perform her duty of efficiently value eating the adequacy of the system of financial control existing within the company she is not only being an ethical but also unprofessional and irresponsible. Ethics is more of a behavior and existing characteristic of an individual personality, rather than an application to an issue or problem which may arise randomly. Ethics is something which every individual applies on a daily basis in various situations encounter at a personal or professional level. Auditing is a profession where morality and ethics is of Paramount importance considering the massive impact it can have on representation of Corporates.

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Business Ethic and Conflict of an Insurance Broker. (2021, Apr 23). Retrieved from http://studymoose.com/business-ethic-and-conflict-of-an-insurance-broker-essay

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