ETIKA BISNIS DAN PROFESI

Jum’at 25 Oktober 2019, jam 10.00 – selesai

Tugas:
Silakan analisis kasus-kasus berikut secara berkelompok sesuai dengan daftar kelompok yang
ada di akhir kasus ini. Setiap kelompok wajib mengumpulkan satu jawaban saja beserta analisis
dan argumennya.

Kasus 1
Conflicting Clients

Topic: Auditing (Confidentiality, Misrepresentation of Fact)

Characters: Jennifer Grace, First-year member of her CPA firm’s management group Tom Ward,
CFO of Fantastic Developments, Inc., a client

While reviewing the current-year audit working papers of Coshocton National Bank (CNB), the
engagement manager, Jennifer Grace, noted something curious. In the working papers related to
loan valuation, Jennifer saw that the commercial loan of Fantastic Developments had been
randomly selected for confirmation but that Fantastic had not responded to either the initial or
second confirmation request. The audit staff disposed of this “loose end” by alternate procedures:
examining cash collections (which had become somewhat sporadic) and vouching to underlying
loan documentation, including a set of recent (unaudited) financial statements that showed
Fantastic’s solid financial position and operating profitability.
Jennifer noted this reference to Fantastic Developments because this private company
was also a client of her firm. In fact, Jennifer had served as the audit senior on the prior-year
audit of Fantastic. She knew that the company had been struggling for a couple of years and had
experienced recurring operating losses. Her knowledge of Fantastic did not reconcile with the
discussion in the audit working papers related to the financial statements furnished to the bank.
When Jennifer contacted Fantastic’s CFO, Tom Ward, and inquired about the company’s
apparently miraculous turnaround, he was noncommittal and unhelpful. Tom replied that
business had picked up. He apologized for not calling Jennifer’s firm himself because he had
been so busy, and then he told her that Fantastic had decided to engage another CPA firm for its
accounting and auditing needs. Although confused, Jennifer obviously couldn’t reject the
possibility that this abrupt dismissal was a direct consequence of her inquiry.
As a result, Jennifer wonders whether the financial statements which Fantastic furnished
to the bank as a basis for a loan application are fraudulent. The bank apparently has no such
suspicion, however.

Author: Donald E. Tidrick, Assistant Professor of Accounting, University of Texas at Austin.

Kasus 2
Don’t Play Games!

Topic: Fraud in Financial Reporting Systems

Characters: Russ, President Monica, Vice President-Small Business Loans at local bank Rick,
Controller

Rick was hired as Controller to help sort out and organize the records of a $7 million dollar
medical supply firm. This company was recently extended a $1,000,000 small business loan to
acquire the assets of a competitor that was going out of business. In Rick’s view, the acquisition
was a financial mess. Inventory records were misplaced or inaccurate, and no one could figure
out the accounts receivable, most of which were over 45 days past due. Although salesman from
the acquired firm were retained, a sales decline in the industry and poor management of the new
firm led to attrition of the best and brightest individuals.
Because of the sales decline, the bank was pressing to know more about the consolidated
entity’s current financial situation. Monica, the bank Vice President in charge of the loan, and
her staff of bank auditors were in daily contact with Rick. Each morning, Rick was a bit nervous
about that days’ cash draw since the firm really played the float. Moreover, Russ, the President,
would often hold large vendor checks in his desk drawer without telling Rick.
Although the financial resources were strained at best (the firm had trouble reimbursing
petty cash), there was a sense of optimism within the organization. As the company penetrated
the nursing home industry, it was pulling in enormous profits from Medicare due to markups at
eight times its costs. As a result of these sales, the firm would start earning a small profit in the
fourth quarter. Even at the end of the year, however, Russ did not want to mention these sales
figures to the bank or accrue the revenue and accounts receivable until the checks arrived,
because he was unsure when the government would be paying for the goods, and more
importantly, because he wanted to have something in his back pocket in case the bank wanted to
foreclose. Furthermore, Russ, as the majority stockholder in the firm, was concerned he would
lose the firm if bankruptcy proceedings should start.
After a few months of recording sales on a cash basis, Rick started slipping hints to the
bank that the company’s financial status was better than was reported. Still, it was not his
company, and he needed to keep his job. He knew that Russ would “play games” with other
people, but he would not appreciate other people’s “playing games with him.” Moreover, Russ
did not trust new employees, and Rick knew he would have to “earn” the President’s trust.

Author: G. Stevenson Smith, Ph.D., CPA, CMA, Professor of Accounting, West Virginia
University
Co-author: Curtis Jay Bonk, Ph.D., CPA, Assistant Professor of Educational Psychology, West
Virginia University

1. Level audit pada uji substantif (lvl akun) , dengan langkah2 confirmation positif dan negatif,
dikirim oleh auditor ats nama perusahaan dan dikirim kembali ke KAP yang mengaudit. Umur
piutang biasanya 30 hari dalam pelunasan, kondisinya adalah auditor pernah bekerja untuk
perusahaan fantastik tersebut. Kasus etika terletak pada adanya fraud dalam financial statement,
(UU pt tata kelola) dalam hal ini. Jenifer tau tentng kondisi fantastic yg mengalami financial
distress. Kemudian jenifer mencurigai adanya manipulasi tentang laporan keuangan

DAFTAR KELOMPOK SETELAH UTS

No NIU Nama Mahasiswa Kelompok

1 393204 AISYAH SALSABILA L 1
2 395615 MUH HARIO W 1
3 393220 BORN INFLAMONE PUTRA 1
4 397072 SENJA REFIANA W 1
5 393256 VIVI ADELIA KURNIATI 1
6 381964 MOHAMAD HIFDY FAUZAN 2
7 393224 DINA SABILA 2
8 393225 ELLA NURSANTI 2
9 393211 ANDRIAN WIJAYA 2
10 396996 ANDHIKA PUTRA S 2
11 352358 RETNO AULIA RAHMAH 3
12 395619 SEFTIA SUWARI 3
13 396992 ALDI GIFARI 3
14 397001 B W ADITYATAMA 3
15 397053 MUJAHID MATIN AHDA 3
16 397005 BINTANG JAYASAKTI 4
17 397016 FAQIH MAULANA KRISNAJATI 4
18 397027 IRFAN HADI 4
19 397030 JENY NOOR SAFITRI 4
20 397050 MUFIDAH SA'IDAH 4
21 397012 EGA YUDHADIBROTO 5
22 396993 ALI JUANTAMA WIJAYA 5
23 397068 RIZKY KURNIASARI 5
24 397070 SALSABILA FARAH D 5
25 406175 DEPI YIKWA 5