A code of ethics ensures that the professionals do not get into conflicts with the society as the professionals become more aware of the limits to which their activities can go.
A code of ethics is important in that it specifies the ethical responsibilities of the accounting professionals something, which is meant to minimize any dilemmas that come whenever professionals act in contravention of the code of conduct1. The code of ethics for Accounting professionals is designed so as to ensure that, any issues facing the professionals and is likely to impact on the American society is taken care of. In addition, the code of ethics is more of guidelines, which specifies the extent to which a professional can go especially in regard to news, or reporting of a given event. The professionals' code of ethics for the Accounting professionals is also meant to protect the actions of the professionals from harming the American society and curb financial scandals.
For the Accounting professionals, honesty and trustworthy is indispensable. The professionals must always ensure that they are consistent otherwise they risk losing credibility. This is why a code of conduct is very central to the functioning of the Accounting professionals. ...Show more