There is severe punishment for tampering or distorting the accounting data or misreporting and other unethical behaviour. When a person deviates too far from ethical guidelines, his dependability and judgment become questionable. As much significant the understanding and upholding ethics is in other professional disciplines, it is equally important in accounting discipline. Organizations are heavily dependent on accounting ethics. The essay addressed several of different ethic areas that could appear within a business and how the matter should be dealt with. The key of being an ethical business is weighing the internal and external activities, which would mean that a company should not overlook one of factors more than the others because they will need to be ethnically inside out to be labelled as a good ethical company.
This page of the essay has words. Download the full version above. There are many companies that rely on financial reports prepared by accountants to be accurate and perfect to make sound business resolutions. There are many benefits of ethics in accounting such as Purpose and Maintaining Public Faith. The first benefits is purpose. In addition, The purpose of financial accounting ethics is to show that legal accountants conduct their work and duties objectively and impartially. Where financial accounting ethics form the basis for legal and regulatory requirements.
Why Are Ethics Important In The Accounting Profession Essay
Abstract This paper explores the ethics of accounting and why ethical behavior in accounting professions is important to different stakeholders in business. An accounting scandal will be examined for unethical behavior. New regulations and reforms that have been introduced to help combat unethical behavior will also surveyed. In closing this paper will consider the biblical implications of accounting.
Everything, since there have been some recent financial accounting scandals; a few examples being Xerox, WorldCom, Enron, which have generated much unwanted and unfavorable publicity for CPA's, including those working as controllers or chief financial officers for organizations. When you hear the. Clients need to have confidence in the business practices of professional accounting firms. A clear ethical code ensures that accountants practice a high standard of business that is exceptional in integrity and professionalism Maughan, According to Schreiber