Unique What Are The Ethical Issues Facing The Accounting Profession

Some accountants create illegal tax shelters to hide company income.

What are the ethical issues facing the accounting profession. An accountant may face the ethical dilemma of reporting discovered accounting violations to the Financial Accounting Standards Board it is an ethical accountants duty to report such violations the dilemma arises however in the consequences of the reporting. Ethical Issues in Accounting Finance Commerce Ms. Fundamental Principles integrity A professional accountant should be straightforward and honest in performing professional services.

The Legal Ethical and Technological Concerns Paper For as long as. Objectivity A professional accountant should be fair and should not allow prejudice or sis conflict of interest or influence of others to override objectivity. Companies use these shelters to avoid paying government income tax.

There are a number of key contributors to ethical breaches which include internal au-ditors individuals internal audit service providers. Running a business puts you under a great deal of pressure especially when things. Our history of serving the public interest stretches back to 1887.

The accounting profession has an ongoing need for ethical leaders particularly given its responsibility to serve the public interest. These corporate scandals question the morality of. Cases Readings American Accounting Association 1990It served as a resource for the Langenderfer and Rockness ethical decision-making model.

In an article in the Houston Chronicle author Jonathan Lister describes ethical issues frequently encountered by accountants. Poor accounting ethics can cause great personal damage in addition to business problems. It begins with the pressure for an accountant to manipulate figures the sins of omission confidentiality issues conflict of interest and finally blowing the whistle.

Accountants may also treat ethical dilemmas as business decisions and not utilize their professional code to assess potential courses of action. We are the American Institute of CPAs the worlds largest member association representing the accounting profession. Ethics of Professional Integrity Professional bodies require that their members including those working outside the areas normally associated with the specific profession must maintain a high standard of.