Ethics in Accounting
Accounting ethics in the field of accounting refers to the guidelines (consisting of judgments and moral values) that a professional needs to follow while practicing accounting. Just like the professionals in the field of medicine or law. An accounting professional also needs to strictly adhere to the ethics that have become a norm in accounting. The people who receive the services of an accounting professional not only rely on his skill and ability, but also on his professional integrity. People using the service of accounting professionals rely on their professional competency to take decisions and in the process also rely on the ...view middle of the document...
Violators are subject to disciplinary action. If an employer still violate the code of ethics then the firm could take legal action the on the person and the person might ended up losing the respect and the job. Moreover, the code is not simply a set of rules. It set to follow them through the person life until the person is with a company or with a firm. And it also creates an expectation that the Association's members will do the right thing in any given situation. By doing a right thing the employer create the company image strong, but not only that the person can be promoted.
An ethical issue could arise is in the firm you are working for. A person could discover something that the firm or another employee is doing ethically wrong. A person may encounter an unethical behavior or conflict. If a person doesn’t fall a behavior polices at work or any place with business related then the same person could be in big trouble. For example if someone were working for a firm and the same person discover that a co-worker is withholding money from the firm. When someone is faced with this anyone should try and follow the firm’s polices to try and resolve the issue.
For example, a policy that a firm may have would contain something along the lines of stating that each employee has the reasonability to conduct a professional and ethical business practice with integrity, confidentially, credibility, and competence. It may also tell a person in whom it may need to talk to if an unethical situation does occur. If someone’s firm does not have a policy then person should consider discussing the situation with the supervisor. If anyone felt that the supervisor itself is involved in the situation then the same person must go to the next level of management. By doing a right thing a person can save company’s reputation and the money. It’s really easy to still...