Question

Consulting services are considered three-party contracts---involving the client, the accountant, and the third party to whom the accountant provides a report.

True

False

Answer 1

FALSE

Corporate Social Responsibility (CSR) is the responsibility of an organization towards the welfare and interests of the society in which it operates while maintaining a healthy bottom-line of profits. Responsible, sustainable and transparent business models help build brand and reputation as well as help strengthen the community and therefore the marketplace. Business ethics examines ethical principles and moral or ethical problems that arise in a business environment. Business ethics reflects the philosophy of business, one of whose aims is to determine the fundamental purposes of a company. If a company's purpose is to maximize shareholder returns, then sacrificing profits to other concerns is a violation of its fiduciary responsibility.