By Ronald Duska
This re-creation of Accounting Ethics has been comprehensively up-to-date to house the numerous alterations in the accounting occupation on the grounds that 2002; the authors systematically discover the hot variety of moral matters that experience arisen due to fresh advancements, together with the monetary concern of 2008. Highlights the debates over using fair-value accounting and ideas- as opposed to rules-based standardsOffers a finished assessment of ethics in accounting, in addition to an exam of and proposals for fixing the present situation during this fieldInvestigates the character and objective of accountingUses concrete examples and case experiences, together with present situationsExamines the moral obligations of person accountants in addition to accounting organizations
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Extra info for Accounting Ethics (Foundations of Business Ethics)
The accounting firms responded to the new economic pressures in that competitive environment by merging with each other and expanding into highly lucrative nonaudit services. From 1983 through1985, revenues from audits at the Big Four grew by only 14 percent, while revenues for management consulting grew 33 percent and for tax practice, 28 percent. The National Commission on Fraudulent Financial Reporting (the Treadway Commission) was formed in 1985 by the AICPA, the American Accounting Association (AAA), Financial Executives International (FEI), the Institute of Internal Auditors (IIA) and the Institute of Management Accountants (IMA).
For now, suffice it to say that accountants implicitly promise to do their job when they enter the profession, and promises should be kept. Doing your job encompasses various specific responsibilities. These responsibilities are spelled out in the job description, the employee handbook, the managerial guidebook, the com- What Is Ethics? 39 pany’s code of conduct, and/or finally, the profession’s code of conduct or ethics. Thus, a professional code of ethics and/or a job description sets the standards.
10 34 What Is Ethics? 12 To what extent each of the accounting firms is culpable, we will leave to the courts and the Public Company Accounting Oversight Board (PCAOB) to determine. For our purposes, these cases indicate the necessity to scrutinize ethical behavior in accounting. Indeed, the Sarbanes–Oxley Act mandates the PCAOB to establish ethical standards. As we have shown, there are numerous stories about questionable or “unethical” behavior by accountants. This is not to say that all accountants or accounting firms act unethically.
Accounting Ethics (Foundations of Business Ethics) by Ronald Duska