Rodgers Industries Inc. completed its fiscal year on December 31. Near the end of the...
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Rodgers Industries Inc. completed its fiscal year on December 31. Near the end of the fiscal year, the companys internal audit department determined that an important internal control procedure had not been functioning properly. The head of internal audit, Dash Riprock, reported the internal control failure to the companys chief accountant, Todd Barleywine. Todd reported the failure to the companys chief financial officer, Josh McCoy. After discussing the issue, Josh instructed Todd not to inform the external auditors of the internal control failure and to fix the problem quietly after the end of the fiscal year. The external auditors did not discover the internal control failure during their audit. In March, after the audit was complete, the company released its annual report, including associated reports by management. As chief financial officer, Josh authorized the release of Managements Report on Internal Control, which stated that the management team believed that the companys internal controls were effective during the period covered by the annual report.
Did Josh behave ethically in this situation? Explain your answer.
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