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| Alex Raminov is a management accountant at Carroll Mining and Manufacturing Company (CMMC), a large processor of ores and minerals. While working late one night to complete the footnotes for the financial statements, Raminov was looking for a file in his supervisor’s office and noticed a report regarding procedures for disposing of plant wastes. According to handwritten notes on the face of the report, CMMC had been using a residential landfill in a nearby township to dump toxic coal cleaning fluid wastes over a considerable period of time. The report stated that locating a new dump site was urgent because the current one was nearing capacity. Raminov realized that it was possible CMMC had been improperly disposing of highly toxic fluids in a landfill that was restricted to residential refuse. Besides the obvious hazards to residents of the area, there could be legal problems if and when the authorities were notified. The financial consequences of clean-up actions, as well as the loss of CMMC's generally good environmental reputation, could be catastrophic for the company. Raminov asked his supervisor how this item was to be included in the footnotes and inquired whether an accrual for clean-up costs was anticipated. His supervisor told him to "forget about this matter" and that he had no intention of mentioning one word about waste disposal in this year's financial statements.
A. Using the categories outlined in IMA’s Standards of Ethical Professional Practice, identify the standards that are specifically relevant to Alex Raminov’s ethical conflict and explain why the standards are applicable to the situation. B. According to the IMA’s Standards of Ethical Professional Practice, what further steps, if any, should Raminov take in resolving his ethical dilemma? C. If he continues to be rebuffed by his employer, should Raminov notify the appropriate authorities? Should he anonymously release the information to the local newspaper? Explain your answers. |