Accounting ethics is a field under applied ethics. Applied ethics is about moral values and judgments applied to a particular area. This is also part of professional ethics. Accounting is an innovation of Luca Pacioli. Accounting courses at higher education institutions and companies training accountants and auditors include ethics subjects.
A high standard of ethics is necessitated by the nature of the work involved in what accountants and auditors. Financial statements are depended upon by shareholders, potential shareholders, and other users who are concerned with the company.
They naturally rely on the opinion of the accountants who prepared the statements, as well as the auditors that verified it, to present a true and fair view of the company.
When accountants and auditors have a general knowledge of ethics they'll also know how to overcome ethical dilemmas. This will guide them in making the right choice that will always benefit the public, and not necessarily the company. Indirectly, this will benefit the profession and those engaged in it by improving their consumer trust rating.
Since there is a growing range of accounting services and recent corporate collapses, ethical standards accepted within the accounting profession gained much popularity. The collapses have unfortunately led to a growing disregard for the reputation of the accounting profession.
To stop the criticism and prevent fraudulent accounting, the field has developed regulations and remedies for improved ethics among those in the profession.
A high standard of ethics is necessitated by the nature of the work involved in what accountants and auditors. Financial statements are depended upon by shareholders, potential shareholders, and other users who are concerned with the company.
They naturally rely on the opinion of the accountants who prepared the statements, as well as the auditors that verified it, to present a true and fair view of the company.
When accountants and auditors have a general knowledge of ethics they'll also know how to overcome ethical dilemmas. This will guide them in making the right choice that will always benefit the public, and not necessarily the company. Indirectly, this will benefit the profession and those engaged in it by improving their consumer trust rating.
Since there is a growing range of accounting services and recent corporate collapses, ethical standards accepted within the accounting profession gained much popularity. The collapses have unfortunately led to a growing disregard for the reputation of the accounting profession.
To stop the criticism and prevent fraudulent accounting, the field has developed regulations and remedies for improved ethics among those in the profession.
About the Author:
If you've enjoyed all the exciting information you read here about myob premier accounting, you'll love everything else you find at Free Online Accounting.
0 comments:
Post a Comment