Financial Reporting : Do Small Errors Need to be Reported?

TitleFinancial Reporting : Do Small Errors Need to be Reported?
Publication TypeCase Study
Year of Publication2013
AuthorsNelson, A
Corporate AuthorsMarkkua Center for Applied Ethics, Santa Clara University,
Date Published06/2013
PublisherMarkkua Center for Applied Ethics, Santa Clara University
KeywordsACCOUNTING , business , BUSINESS ethics , FINANCE
AbstractBen has just started a job in the finance department of a publicly traded Silicon Valley company, and one of his main responsibilities is to create and distribute reports that analyze costs and revenues for different divisions. Ben works hard to prepare the complicated reports, but the strict deadlines and the sheer volume of data can sometimes be overwhelming and he often finds errors after he as submitted his final reports. When the errors are critical, he revises the reports and resends them. However, Ben debates if he should send out revised reports when the errors are minor. He worries that if he frequently sends out revised reports he will seem unreliable. What actions should Ben take when he catches a mistake?
URLhttp://www.scu.edu/r/ethics-center/ethicsblog/silicon-valley/16445/Finance-Ethics:-Do-Small-Errors-Need-to-be-Reported?
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