It is my opinion that the president and owner of Custom Enterprises, Loretta Smith is not behaving in a professional nor ethical manner by omitting any of the financial statements for the bank loan.
She is omitting documents that she knows may affect the loan officer’s decision to approve her request. Yet in my opinion, if the loan officer is meticulous he/she will realize that the financial statements are missing and request them again from Ms. Smith. Although, she intentionally omitted her financial statements, she did not ask the accountant to alter any of the financial documents. Yet there are risks to her behavior—the accountant can be reluctant to work with the owner of Custom Enterprises and/or report