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Professional Ethics - Accountancy

Outline some of the key issues of professional ethics that graduates working in accounting and finance may face...

Any ideas guys?
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A.A.T.
The ethical issues facing the accountant

Professional ethics are the principles and standards that underlie the responsibilities and conduct of a person in performing his/her function in a particular field of expertise.

Ethical principles are important in a business organisation as they set the tone for the culture and behaviour of employees and management.
• For example, a business’s ethical aim may be to treat employees fairly and to be honest in all business transactions.
• The application of ethics can sometimes be intangible. Ethics is often described as ‘doing the right thing’ but this can mean different things to different individuals.
• After the accounting scandals in Enron, Worldcom, Parmalat and others, business ethics has become more prominent in the accounting world.
• As a result, many companies have an ethical code that sets out their ethical objectives. This can be a huge benefit for businesses, as employees tend to prefer to work for a company with good guidelines of moral behaviour, and customers and suppliers will prefer to deal with such a business.

Any specific area of professional ethics as this topic becomes advanced from the outset.

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