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In this case study, Giving Voice to Value (GVV), auditing technique is discussed that emphasis on ethical values

Home, - The case study based discussion on an ethical dilemma

Introduction:

In this assignment, Giving Voice to Value (GVV), auditing technique will be discussed in relation with the case study. GVV techniques of auditing mainly provide great emphasis on the implementation of ethics and value inside the business finance management. During the audit in Fantastic Fashion LLC, Rehma, one of the group members of the auditing team has failed to detect the deficiency in the inventory presented in the company, and she dropped this report from her senior Ahmed also. The discrepancy in an audit report and sleeping this news from high to protect personal positive image maintenance create a crucial ethical dilemma in Rehma. In this assignment, it will be discussed that how such kinds of difficulty can be avoided by following the GVV techniques of auditing in the following parts of the job. 

Problems and solutions:

In this auditing time, the ethical question of Rehma arisen as she failed to adhere with the terms and rules of auditing, which was to check the inventory department? On the other hand, she had not reported to senior. To get the rescue from inner ethical confliction, Rehma had the cause that, such a small inventory report will not make any significant impact on the financial statement. But, the moral dilemma occurs Rehma thinks about the situation if Ahmed comes to know about this lack in auditing and she is also frightened about the situation that if this small discrepancy makes a lustful result in the financial statement. In both of these cases ethical dilemma occurs from Rehma. To find out a solution to such a moral dilemma, the GVV technique can be implemented. In this Giving Voice to Value technique, all the business persons, auditors, managers, and other executives make there advance practices about their speeches (Latif, Tariq, Abbasi, & Mandane, 2018). In this practice session, Rehma like group members, auditors, seniors, and all other members will do their practices about what will be their speeches if they have to do face such a guilt position in front of their bosses. This practice will be like athletes, players; fashion celebrates regarding their interview session and others. Through this technique, they will do a thorough practice before performing their speeches in front of their bosses. Such an advance practice will make them confident about their positive points in spite of making some shortfalls in their job roles (Waycott et al., 2018). If Rehma has gone through a thorough voice or speech practices then Rehma.

 

Judgments and discussion:

If Rehma is judged from the viewpoints of ethics, then she had failed to maintain its valuation in business. On the other hand, she had been unable to make her commitment of a complete honest report also. In this scenario, Giving Voice to Value technique will be the most prudent way where she will get the scope to make an advance practice in front of the mirror or other things. During providing any clarification after making a fault in the job responsibilities only proper gestures, positive body language, approach, pointwise explanation making a self-favor are very significant. Maintenances of these steps will help Rehma, to solve out from this trouble (Shawver & Miller, 2017). 

Conclusion:

It can be concluded from the above discussion that, Rehma had made a mistake after making a discrepancy in her auditing activities. In this assignment, the GVV technique is discussed to provide a supportive way to Rehma where she can do practice about what she would tell in front of Senior Ahmed if any circumstance occurs.  In this period, there will be the excellent support for Rehma when she would have a preparation that what she has to perform or speak in front of her boss to cover her wrongdoing. 

Recommendations:

Along with this GVV techniques, there should be a thorough check-up of the entire financial statement. It should be done by Rehma and other members to recheck the whole of the financial statement, and then it should be corrected. It is also recommended to be more cautious during such an important duty. On the other hand, Rehma and other auditing members should be trained to utilize Global accounting systems of Auditing, management to make a supervised report of Audit. GVV technique will provide excellent support also.  It will help them to make a great clarification towards their seniors. Technological advancements, thorough check-up of reports, proper supervision, meeting in a reasonable span, and maintenances of ethics core values of organizations are highly crucial. Preservations of all of these techniques will help Rehma and other members to sort out their problems, and young audit stars will be to make a bright future also.

 

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