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. Ethics in Accounting Importance of The Accounting Profession Accounting is important in business so that management, creditors, investors, potential investors and other consumers of a company’s financial data can make informed decisions.
One the most important factors in using professional scepticism is the auditor’s experience. The auditor experience is essential in exercising professional judgement when assessing the evidence. The importance of professional scepticism is more prevalent today than ever before. Without professional scepticism, the auditor does not challenge nor remain alert to inconsistencies and circumstances that indicate actual or potential misstatements (Auditing and Assurance Standard Board, 2012). The unrealistic expectations of external users of financial statements to assume that an auditor remains totally impartial to client influence is a conclusion drawn from psychological research.
Opposing Viewpoints in Context, link.galegroup.com/apps/doc/EJ3017100071/OVIC?u=clov35999&xid=4c83c3b9. Accessed 17 Apr. 2017. "Is It Ever Permissible to Break the Law." The Premier Online Debate Website | Debate.org.
“Ethics is the critical, structured examination of how individuals and institutions should behave when their actions affect others (Chris MacDonald)”. The scenario suggests that Brady, a prospective landlord is giving a bribe to Zarley. Zarley represents the bank and its values, therefore his actions should present the image of his company. Bribery is clearly an unethical and illegal act that was possessed by Brady. Zarley made the right decision by returning the money and iPads to Brady.
This can inculcate an ethical attitude in Foxconn’s employees and help employees make “right” decisions when they are in an ethical dilemma. Having an ethics code addresses the root cause of the problem, however research has shown that an ethics code is only effective when it is used as part of a comprehensive corporate ethics program (Mhonderwa, 2012). This can be costly to implement for Foxconn as it has more than one million employees. Lastly, the customers of Foxconn should enforce a compliance-based ethics program on Foxconn. The message must be made clear to Foxconn that if it engages in unethical behaviour, the customers will find alternative manufacturers.
The Met Museum. (2017). Robert Capa | The Falling Soldier | The Met. [Online] Available at: http://www.metmuseum.org/art/collection/search/283315 [Accessed 3 Oct. 2017]. https://www.ndsu.edu/pubweb/~rcollins/242photojournalism/historyofphotography.html Gott Mit Uns - Tony Vaccaro Studio Tony Vaccaro Studio.
In this Enron Scandal ,several moral issues and values are being discussed .The moral issues is the misconduct of code of ethics by management level of a corporation , violation of code of professional ,ethical dilemma that faced by a management level when involved own interest . The first moral issues that discussed in Enron Scandal is misconduct code of ethics by management level of a corporation .In this case ,the mastermind of this scandal is the company CEO , Mr . Kenneth Lay, Mr. Jeffrey Skilling and the company CFO,Mr. Andrew Fastow .The management level of Enron Corporation had misconduct the code of ethics and fail to performing the duties of a corporation which is telling the truth of the situation of a corporation .Instead , they tried try to hide the truth of their financial status and create a false prosperity situation and make the public believe on them in order to support their shares prices . The misconduct of code of ethics by the management level by Enron corporation has led to the another question – The ultimate responsibility of a corporation towards society ?
I am going to talk about ethical issues in practice of management accounting. Actually my discussion relies on my studying to the articles have published by ( prof. Iwan Triyowon) as well as my opinion. As all we know that the management accounting is the most important thing inside the company because it is the source of the information which is needed to make a decision and we have to know that information can be used by internal or external users but in our discussion here we will highlight and pay a strong attention to the information has delivered to the external users such as investors because there are some managers cheating the outside users by using some tricks (wizard). I illustrate the earning management as an example for the ethical