Due to Pringle & Welch’s revenue decline, you decided resign and moved out of the city of residence accepting another job offer. Consequently, a number of people around you, including family, friends and colleagues, are aware of the fact that you are intimately knowledgeable of various clienteles during your tenure at Pringle & Welch. Some of them are interested in having certain information as discussed below:
i. One of your close relatives has got an offer for appointment as director marketing of a client. He wants to be aware of the levels of remuneration at comparable positions in order to negotiate his remuneration properly.
ii. Your sister has asked you about the ingredients of a specialized nutritional product for children, being marketed a company, which she is using for her child. You are aware of all the details about the said product, as you got the opportunity to perform tests on the costing of that product.
iii. One of your friends is working in the Ministry of Health. He has asked you as to whether the company has complied with certain statutory requirements. You are aware of the fact that the company is not complying with the same and you have already included the matter in the management letter. With reference to specific provision of law, he has convinced you that it is his duty to enquire about the same, and you are responsible to disclose the relevant information to the Ministry. He has also informed you that incase of no response; you may be served with a legal notice.
iv. Your younger brother intends to commence distribution business. He has asked you about the rate of commission and volume rebates being allowed by a client to its distributors, as he wants to work out the feasibility of-business.
v. Your father invests his surplus funds in the capital market. Being aware of the fact that companies like that usually have a five to ten year’s plan in place. He has asked you about the trend of earnings per share of the said company for the last five years, and the expected growth in the net profits for the next five years.
c) Discuss each situation to conclude as to whether or not you can provide the requisite information and the extent to which the same can be disclosed without compromising the professional ethics
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