Accounting Ethics

Paper Summary:

The paper explains that the Accountant Code of Professional Conduct is an instrument that provides guidance to accountants and protection to the clients. The paper discusses how the majority of accountants take pride in doing an honest and competent job for those who hire them. For the few who are either dishonest or incompetent, the code provides relief for clients by way of criminal punishment or fines. The paper shows how it is a code that stands as strong and tall as the Hypocratic Oath for physicians and one that is held to an equally strict standard so that the field of accounting will remain above reproach.

Outline:
Introduction
History
When An Accountant Fails
Conclusion

From the Paper:

"At first glance the average laymen would be hard pressed to explain why accountants need a code of conduct in the profession. People are aware of the doctor and attorney professional vows or promises to follow certain ethical rules because of the severe damage they can do if they become unethical. Once one begins to explore the accounting profession, however, one will quickly discover that accountants have the ability to do great harm as well(Demski, 2000). Accountants have the financial survival, future, and life of their clients in their hands. If an accountant decides to become unethical he or she could easily destroy an individual, a family, a corporation or a government entity."

Sample of Sources Used:

• Badawi, Ibrahim M.(2002) Accounting codes of conduct, violations and disciplinary actions. Review of Business; 1/1/2002;
• Carey, J. L. The CPA Plans for the Future. New York, NY: AICPA, 1965.
• Demski, J. S. and J. L Zimmerman.(2000) "On Research vs. Teaching: A Long-Term Perspective." Accounting Horizons

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