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You are an intern working for WBI, a large investment advisory services in Sydney. Among other regular customers, WBI has been providing advisory services for Jumbo Bank (JB) and Ombrelloni Felici (OF).
For the sake of simplicity, this assignment does not consider taxes and other fees. You might have to use information from previous questions for answering information for following questions and whenever possible support your arguments with your calculations.
Problem 1:
One of your LinkedIn contacts who poses himself as an entrepreneur and is starting a trendy business shirt venture has offered you a one chance in a lifetime of becoming his partner in this new incredible venture. The entrepreneur has offered you a partnership in this venture under the condition you share with him the WBI employees and customers contact list. The entrepreneur has guaranteed you a commission for any WBI employee or customer who buys one of the trendy business shirts.
Required
State one of the ethical standards, as provided by the Institute of Management Accountants (IMA) Statement of Ethical Professional Practice1, which would be jeopardized if you accept the business offer and justify why this standard is being jeopardized (there might be more than one ethical standard being jeopardized but only one is required for this question). Please elaborate on how the business offer could be accepted without jeopardizing any ethical standard.
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