Ethics Case studies Essay Example | Topics and Well Written Essays - 500 words

Ethics Case studies - Essay Example John has rested his hope in my positive recommendation to get the opportunity which he regards as a lifetime opportunity. Patients are the major stakeholders in this case because their life will be at risk in case the wrong person is offered the job. Indeed, the only practical alternative is to be honest with the reference lab regarding John’s capabilities. Lying for him would be unethical and short-lived because even if he is hired, it will not take long before the new employer discovers his incompetence. This would result in him being fired and it would be embarrassing for him to come back to seek his old job once again. This would jeopardize the Center’s reputation and my credibility as a reference person. Professional code of ethics states that the best interests of the patient should come first before individual and organizational interests. The interest of colleagues should be given second priority when the patient’s well-being is at risk. The profession should also be safeguarded through ethical practices. I would clearly explain to John the competencies required in the new job and make him understand that in my honest opinion, he is not qualified for the job. I would also explain to him the undesirable consequences that may result from my strong recommendation for him including putting his current job and the potential job at risk as well as jeopardizing the reputation of the lab. As the lab supervisor, you receive a report from one of the evening shift technologists that another one of the evening techs is doing the â€Å"sink test† (i.e. dumping samples down the sink and making up the results) in urinalysis in order to get to dinner earlier. What action would you take? The ethical problem in this case is dishonesty in one of the laboratory technologist who is putting the patients’ health at risk. The wrong results may cause irreversible damage to the patient. These actions may damage the reputation of the

The Function of Ethics and Financial Services Essay

The Function of Ethics and Financial Services - Essay Example The company was involved in a fraud scheme whereby Gottlieb and Drabinsky received $7, 000, 000 directly or through the company owned by Gottlieb. $ 4, 000, 000 of the total amount was capitalized as the pre-production costs. Gottlieb and Drabinsky operated a kickback scheme with Livent vendors and took the mentioned amount from the company and took into their own pocket. To fully convince the company of the transaction, Gottlieb instructed the two vendors to present an invoice that could not expose their deal. Gottlieb and Drabinsky received the payment for bogus services. In the mid-1990s, it became difficult for the company to attain its financial goals. Gottlieb and Drabinsky enjoyed their financial gain, and in turn, the company had to bear the loss. It became difficult for the company to raise additional capital to sustain its operation. Gottlieb and Drabinsky manipulated the company by directing Livent’s accounting staff to obscure the company’s financial crisis. Some of the manipulations included erasing the accounting records that recorded the liabilities and expenses of the company at the end of each year. The Livent’s accounting staff engaged into an accounting scam of transferring the preproduction costs of existing show to shows that were in production. This transfer manipulated the company to comprehend the cost of the major items used in production. To reduce the costs of preproduction, Livent’s accounting team transferred the costs to fixed asset accounts.... The Livent’s accounting staff engaged into an accounting scam of transferring the preproduction costs of existing show to shows that was in production. This transfer manipulated the company to comprehend the cost of the major items used in production. To reduce the costs of preproduction, Livent’s accounting team transferred the costs to fixed asset accounts. Eventually, the company started debiting salary expenses and operating expenses to long-term fixed assets accounts. Livent transferred the cost of the shows that were currently running to shows that never existed (Knapp & Knapp n.d, p10). In 1996, Gottlieb and Drabinsky conducted a scheme referred as the fraudulent revenue-generating. This fraud involved various multimillion-dollar transactions organized by Gottlieb and Drabinsky. Most transactions involved the rights to produce Show and Ragtime Boat in different U.S. theatres to Texas companies. The contract or agreement of this transaction obligated the need to h ave a non refundable fee. Specifically, the $11.2 million fee paid by the Texas company to Livent was non refundable. However, the Livent’s executives arranged a secret side agreement that guaranteed Texas Company a reasonable rate of return on every large investment they made. Despite the actual growth and earnings that the company achieved, the accounting staff benefited more while the company deteriorated at a high rate. The final Livent Fraud occurred in the late 1997, when Livent opened Ragtime in the Los Angeles Theatre. The company got into an agreement with the theatre of closing the show if the weekly sales fell less than $500, 000. During that period, Livent entered into various transactions purporting to present