"morality" exercise:Standard IV(C)–Responsibilities of Supervisors

来源: 正保会计网校编辑：小鞠橘桔 2020/12/16 10:24:35　字体：大小

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Questions 1:

Albert Nyakenda, CFA, was driving to a client’s office where he was expected to close a multi-million-dollar deal when he was pulled over by a traffic policeman although he did not believe he had violated any traffic laws. When Nyakenda realized the policeman planned to wrongly ticket him for speeding, he offered to buy him “lunch” so that he could quickly get to his client’s office. The lunch would cost significantly more than the ticket. The alternative was to go to the police station and file a complaint of being wrongly accused that would also involve going to court the next day to present his case. Did Nyakenda most likely violate the CFA Code of Ethics?

A 、Yes.

B、 No, because he was wrongly accused.

C、 No, because the cost of lunch is more than the ticket.

Questions 2:

Francesca Ndenda, CFA, and Grace Rutabingwa work in the same department for New Age Managers with Rutabingwa reporting to Ndenda. Ndenda learns that Rutabingwa received a Notice of Enquiry from the Professional Conduct Program at CFA Institute regarding a potential cheating violation when he sat for the CFA exam in June. As Rutabingwa’s supervisor, Ndenda is afraid the behavior of Rutabingwa will be seen as a violation of the CFA Code and Standards. Does Ndenda most likely have cause for concern?

A、 Yes.

B、 No, because her responsibilities do not apply.

C 、No, not until Rutabingwa is found guilty of cheating.

View answer resolution

【Answer to question 1】A

【analysis】

A is correct because Nyakenda was effectively trying to bribe the policeman so that he would not issue a speeding ticket. This action violates the Code of Ethics. Despite feeling he was wrongly accused, it is only his opinion, and may not be based on fact or in a court of law. Nyakenda has a responsibility to act with integrity and in an ethical as required by the Code of Ethics.

B is incorrect because Nyakenda does not have the authority to determine whether he was wrongly accused. That is his opinion, not based on fact or in a court of law. He must obey the laws of the country within which he resides and works and act with integrity and in an ethical manner.

C is incorrect because he must obey the laws of the country within which he resides and works and does not have the jurisdictional power to determine whether his “punishment” is just. Nyakenda must act with integrity and in an ethical manner.

【Answer to question 2】B

【analysis】

B is correct because a supervisor’s responsibilities relate to detecting and preventing violations by anyone subject to their supervision or authority regarding activities they supervise. Ndenda had no way of detecting and/or preventing Rutabingwa from cheating during the CFA exam, if in fact that is what he did, an event she did not attend.

A is incorrect because Ndenda does not have supervisory responsibility for Rutabingwa when he takes his CFA exam.

C is incorrect because supervisor responsibility in this case does not apply, as Rutabingwa was not under the supervision of Ndenda when he took the CFA exam.

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