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Why Are Ethics Important in the Field of Accounting? - Research Paper Example

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College
Research Paper
Finance & Accounting
Pages 5 (1255 words)

Summary

Ethics in Accounting Introduction Ethics is derivative from an ancient Greek word ‘ethikos’ that is referred to traditions and lifestyles. …

Extract of sample
Why Are Ethics Important in the Field of Accounting?

Ethics have a very serious bond with legality as sometimes mortality differs as it lacks certainty. If fulfilling and implementing a legal thing might turn to be unethical in behavior, as each individual perceives morality differently (Souster, 2011). The right and the wrong is determine by the proximity of application of laws and moral values of the society and thus it becomes important to not only enforce ethics in professional capacity but also to safeguard the sanctity of the independence of the professions like medicine, law, military and even accountancy. The unethical behavior and lack of confidentiality in accounting profession and services will terminate the independence and integrity of the accountants, organizations and even the public at large. The ethical dilemmas especially the grey areas which need to be assessed by the accountants for the organization as well as the services they provide through firms which enables them to not jeopardize their professional values over the familiarity with the client or not doing their job with professional due care (AICPA, 1998). ...
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