Financial Reporting and Ethics - The Institute of Chartered ...

APPENDIX IICOMPREHENSIVE QUESTIONS ANDSUGGESTED SOLUTIONSQUESTION 1Write short notes on(a) Utilitarianism.(b) Deontology.(c) Teleology. (15 marks)SUGGESTED SOLUTION TO QUESTION 1(a)(b)Utilitarianism has been referred to as a process of ethical balance in the same way thataccountants’ talk about the idea of a trial balance. The concept stands for the pursuit ofthe permanent and best interests of the various parties to an issue as a standard of moralstandpoint. The school of thought focuses the outcomes of moral issues for appraisal. Theideology maximises good or right over harm or wrong.(5 marks)Deontology: This philosophy addresses the idea of an obligation or a duty. In thisconnection, an ethical event is justified if, by its nature, it is good. A ready evaluation ofdeontological issue is the ethical requirement that in the performance of duties or meeting,a moral obligation, professional integrity should be apparent. (5 marks)(c) Teleology:The ethical consideration here is with the consequence and not the act itself.The concept is also referred to as ‘consequentialism’ or ‘end-based ethics’. The ethicalrequirement on its own may be neither good nor bad. The focal point is the end pursued.(5 marks)(Total otal 15 marks)QUESTION 2Philosophers have developed several theories as means of resolving moral challenges. In thiscontext, you are required to discuss briefly the following:(a) The “Doctrine of Original Sin.” (5 Marks)(b) The Doctrine of innate purity (5 Marks)(c) Moral Dilemmas (5 Marks) Total (15 Marks)SUGGESTED SOLUTION TO QUESTION 2(a)The “Doctrine of Origin Sin”This concept connection with the early Christianity called ‘ology’. A dictionary defines‘ology’ as “a science whose name ends in ‘(o)logy”. It is any science or body of knowledgesuch as ‘biology’ ‘zoology’ ‘archeology’ and ‘sociology’. The doctrine asserts that man isegoistic or selfish from birth. It is only punitive socialization experiences which overridethe drives and bring about man’s moral development. (5 Marks)269