A Research On Accounting Ethics

This report is to illustrate detailed information about the interview that I conducted with Mr. Bob Bahd, a Chartered Professional Accountant (CPA), who had agreed to be interviewed. I was given Mr. Bahd’s name and contact information through a mutual friend and looked up his profile in LinkedIn. I determined that Mr. Bahd would be a good choice for this interview based on his profile and the recommendation of my friend.

In response to the recent advertised position on Waterloo Works, I am delighted to submit an application for the position as a tax administrator co-op student at Scotiabank. After reading the job description I am certain that my skills in communication, team work and my attention to detail would make me an asset to the team. I believe that the opportunity to work at Scotiabank will utilize the skills I have gained through my work experiences and allow me to apply these skills in different areas.

“ In order to prevent fraudulent financial reports and statements, the American Institute of Certified Public Accountants(AICPA) has created ethical standards” (Ethical standards in a financial statement, 2011). These standards aim to make financial professionals accountable for their accounting practices. This includes the integrity of financial reporting and ensuring financial reporting is done fairly and factually. Financial accountants and professionals should maintain professional integrity, objectivity, and independence to reduce the risk of resulting legal action, loss of profits, and a poor reputation if improper financial reporting is done (Ethical standards in a financial statement, 2011).

This post will discuss two ethical accounting dilemmas that could occur in the CPA profession. For each dilemma, it will explain how the dilemma could be resolved based on logic and reason. It will then support that proposed resolution through support from the American Institute of Certified Professional Accountants (AICPA) Code of Professional Conduct.

Accountants are held to a higher ethical standards and they must performed their duties in compliance with standards or ethical values of honesty, integrity, objectivity, due care, confidentiality, which must be fully committed to. They must put clients or public interest first before their own. They must have and ethical values and maintain those values way beyond what the society or the company’s code of ethic. It is important that accountants’ behavior or ethical values is in conformity with the

     The accounting system is constantly changing. During these changes, it is important for accountants to adhere to the high ethical standards that they have always lived by. Adhering to the high ethical standards is an accountant's obligation to the public, the profession, and themselves. An accountant's ethical conduct usually lies within four different areas. This includes competence, confidentiality, integrity, and objectivity. NYSSCPA.ORG states, "Members also have a continuing responsibility to cooperate with each other to improve the art of accounting, maintain the public's confidence, and carry out the professions special responsibilities for self-governance," (Article 1).

One great problem that has been realized to have entered into the accounting industry is that a lot of accounting firms only give help to their clients whenever they feel so. Unfortunately, this has far much bigger negative results to businesses. A lot of the businesses go through a stressful experience and sometimes it is adverse. We have a great understanding that our clients choose us because of our great effort to ensure that we help them most when in need.

Accountants and auditors are often faced with having to make decisions that bring ethics into question. The American Institute of Certified Public Accountants (AICPA) sets the standards for professional conduct that dictates what accountants are allowed to do and what they are not allowed to do. However, issues do arise that have not been addressed by the AICPA and when this occurs it is up to management to use their best judgment to make a determination about the ethical implications of their actions (Allen, 2011).

Barclays would provide me an opportunity to learn, develop and utilize my skills to contribute towards the collective organizational goals and work with the most talented brains in the

"I check reports for anything suspicious, see what stuff is posted on the ledgers, and write journal entries for transactions, approve invoices, do bond portfolios and reconciliations. I also work in the accounts payable section. I draw cash for bank if the bank needs cash. Sometimes, there are financial statements like income statements, balance sheets, and cash flow statements to be made that together could be at least 70 pages long." (S. Owens, personal communication, March, 15, 2017).

Ethics in any industry is important, but for Accounting professionals and those in need of their services, it is a particularly stressed element. Information provided by accountants is used to make major decisions, including investing, downsizing, expanding, etc, so accountants are expected to be competent, reliable, and have a high degree of professional integrity. Because of these high expectations, the professional accountancy industry, like many other professions, has adopted professional codes of ethics (Woelfel, 1986). These ethical codes go above and beyond the requirements for state or federal laws and regulations. There are several professional organizations within the

The study is important because it examines the role of ethics in accounting. The research on identified problems is necessary due to vagueness of ethics concepts and its difficulty to

Imagine trusting your hard-earned money like your retirement savings to a financial adviser or Certified Public Accountants (CPA) only to lose it all in a fraudulent Ponzi scheme. In today’s world of business many organizations, financial planners and accountants are in the news due to the financial ethical breaches that have affected their customers, employees, and the general public. A CPA has to be responsible for their audits and take any punishments as a result of their mistakes, incompetence or illegal actions. CPAs are expected to have integrity in their work,

Accounting is the language of business. It is a profession that is being guided by principles, concepts, conventions, laws, etc. All these fundamental building blocks serve as common and general compasses to all practitioners of the profession. In some cases, they are nation-wide tailored, while in other cases, they are universally tailored. Accounting as a living, practical, dynamic and realistic profession covers so many areas of social, economic (business), and governmental activities. Surely, any endeavour that involves monetary and material activities create a room for the services of Accounting. Many of the human endeavours for which the accounting profession plays significant (some times inevitable) roles include; Banking, Insurance, Manufacturing, Farming Contracting, Oil and Gas, Mining, Transportation (Air, Land and Sea), Educational Institutions, Churches, Ministries, ICT, Hire Purchase, Local Government Authorities, Estate Businesses, Export and Import Businesses, Bill of Exchange Transactions, Royalties Transactions, Consignment Transactions, Stock Market Transactions, Sports, Entertainment, Hospitals and Hospitality Industry, etc.

The name of the organization which I work for is called Bank of the West and is a subsidiary bank of BNP Paribas. This financial institution can be found all over the west coast of the United States. In the state of New Mexico there are about 20 branches and 15 of them are located in the city of Albuquerque. The organization itself has about 10,000 employees; however, the branch that I work at has a total of 13 employees. The structure of the bank has always been hierarchical, yet now days it has become more noticeable with the new changes that the company went through. The organization culture encourages creativity, rewards employees for serving customers in the best way possible, and welcome and respect diversity. The goals of Bank of the West is to sever and most important to educate customers about financial responsibilities.