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    Lizzie Bennett's Avatar
    Lizzie Bennett Posts: 1, Reputation: 1
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    #1

    May 14, 2012, 09:55 AM
    Accounting: Ethical Responsibilities
    Katrina is an accountant for Mullins Pharmaceuticals. Her duties include tracking research and development spending in the new product development division. Over the course of the past six months, Katrina notices that a great deal of funds have been spent on a particular project for a new drug. She hears “though the Grapevine” that the company is about to patent the drug and expects it to be a major advance in antibiotics. Katrina believes that this new drug will greatly improve company performance and will cause the company’s stock to increase in value. Katrina decides to purchase shares of Mullins in order to benefit from this expected increase.

    Required:
    1. What are Katrina’s ethical responsibilities, if any with respect to the information she has learned through her duties as an accountant for Mullins Pharmaceuticals?
    2. What are the implications to her planned purchase of Mullins shares?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    May 14, 2012, 12:13 PM
    Think "Insider Trading"
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #3

    May 14, 2012, 04:10 PM
    Think kick in the arse and loss of job
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