Objective 1.03 Understanding Ethics Needed For Employment In Accounting 1 Objective 1.03 Understanding Ethics
Dec 30, 2015
Objective 1.03 Understanding Ethics Needed
For Employment In Accounting
1Objective 1.03 Understanding Ethics
Ethics is the study of right and wrong and and how people choose what is morally good and bad.
Business ethics refers to how a company uses a code of conduct, which is designed to encourage ideal behavior when making decisions.
2Objective 1.03 Understanding Ethics
AICPA – American Institute of Certified Public Accountants
IMA – Institute of Management Accountants
IIA – Institute of Internal Auditors
3Objective 1.03 Understanding Ethics
Integrity
Objectivity
Independence
Competence
Confidentiality
4Objective 1.03 Understanding Ethics
Accountants must choose between right and wrong.
Accountants are responsible for entering correct entries.
Accountants are responsible for true and correct financial statements.
Integrity is necessary for accountants to build trust in regards to their professional judgments.
5Objective 1.03 Understanding Ethics
Accountants must be: ImpartialHonestFree of personal conflicts
Accountants must not be influenced by personal interests.
Accountants should behave in a way that does not suggest inappropriateness.
6Objective 1.03 Understanding Ethics
Accountants do not have an interest or profit financially from the companies they audit.
Accountants must have the public’s confidence in their professional services.
7Objective 1.03 Understanding Ethics
Accountants should be knowledgeable in their profession.
Accountants must have the skills necessary to perform their jobs.
Accountants must have experience in their field.
Accountants are expected to keep abreast of current laws by continuing education classes.
8Objective 1.03 Understanding Ethics
Accountants must not share private information regarding their clients.
Accountants are expected to protect personal and private information regarding their clients.
An accountant should not use information learned for personal gain.
9Objective 1.03 Understanding Ethics
Glencoe Accounting 1st Year Course, McGraw-Hill, 2007.
10Objective 1.03 Understanding Ethics