Accountability And Professionalism In Nursing

In the world of business, it is so obvious that Certified Public Accountants are playing an extremely important role to the public. Working as Certified Public Accountants, it is so special that they provide accounting professional services not to a specific person but to the whole public. Therefore, the ethics and conducts of the Certified Public Accountants becomes much more important because it affects the reasonable operation and successful development of the whole industry. So, as a professional accountant, we need take the duties that required by the AICPA code of ethics --- “professional competence, confidentiality, integrity, and objectivity".

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 relied upon to be trustworthy and maintain high ethical standards. It is because of the nature of the profession that puts them in a position of trust with people who rely on their professional judgment and guidance in making decisions. These decisions are extremely important in accounting and more so that companies that have high ethical standard or main good ethical culture spend enormous time to train the staffs about the conduct that is expected of them.

Accountants owe the duty to act in a professional and ethical manner concerning clients, as well an obligation to respect the laws that are involved with the profession. This is where a crossroads of ethics and legalities are formed and potentially the defining point of crucial decision-making. Stephen Richards and his actions under employment with Computer Associates (CA) are then examined in light of this concept.

The American Institute of Certified Public Accountants (AICPA) has the duty of ensuring CPA’s follow rules and stringent penalties can result if not compliant. A code of ethics is involved and revisions have been made in recent years. The entire ethics provisions apply to members in public practice, business, and other members. Furthermore, the provisions have made the revised code is the creation of three sections for members in diverse areas of practice to assist accounting professionals in each group to determine whether they are in violation of any rules of conduct, (Mintz, 2014). There are tools made for CPA’s to make better ethical decisions to avoid conflicts. For instance, a provision in the prior section explains of violation of honesty and objectivity if a member is coerced into pressure. Since revisions

Membership to the AICPA is on a voluntary basis and those who choose to join are choosing to abide by the code of conduct set forth by the AICPA and also agree to code of ethics that comes with it. “A member assumes an obligation of self-discipline above and beyond the requirements of laws and regulations.” (page 5, section .01) It is important to note that accountants are held to very high standards without having a CPA designation and belonging to the AICPA. The choice to become a member of the AICPA provides a CPA with a support group and a code of conduct to reference when any situation or question may arise. Certified Public Accountants do have multiple sources of oversight such as the Securities Exchange Commission, Financial Accounting Standards Board, and the PCAOB to name a few but it is the spirit of self-governance that encourages accountants to want higher standards for the profession. Accountants have a responsibility to themselves, their clients, society at large, and to other accountants to act ethically

Ethics is of the utmost importance in accounting as it forms the backbone of the company’s ability to attract investors. Accountants have a very special position of trust in relation with their employers and the public. They are trusted to provide professional and sound guidance in making decisions. Betraying this trust and misleading the public can result in devastating consequences.

Professional ethics are an absolute necessity in the field of accounting. Businesses rely on accountants to accurately report their financial information and give sound advise and consultation in regards to their business. There are standards and rules set in place to ensure that ethics and information is reported accurately. Laws and repercussions are created place to deter unethical and illegal accounting practices, although it still occurs in the business world on many levels.

What does ethics have to do with accounting? Everything, since there have been some recent financial accounting scandals; a few examples being Xerox, WorldCom, Enron, which have generated much unwanted and unfavorable publicity for CPA's, including those working as controllers or chief financial officers for organizations.

Having competent professional accountants are invaluable assets to the company because they are able to adopt a pragmatic and objective approach to solve issues. Accountancy professionals assist business executives with corporate strategies, provide advice with product cost, improve mitigate risks of the company. Public accountants not only serve the interest of the company but also have the duty to the general public. Therefore, they have a key role in helping organizations to act ethically. Ethical codes for professional accountants globally compels, regardless of the roles that they perform, to uphold values of integrity, objectivity, professional competence and due care, confidentiality, and professional behavior. However, many times,

Since accountants are making important financial decisions that often have a large impact on the financial well-being of companies and individuals, there have been increasing instances of lawsuits brought against auditors for violations to policies. These are all supporting reasons why accounting requires sound judgment and ethics and a willingness to be proactive in researching to gain knowledge

In accounting, ethics are based on a commitment to honesty and objectivity. Financial reports are to be shown in the clearest and most accurate way possible. Investors, creditors, managers, employees, and even customers need to be confident that their accounting professional is honest and consistent with accounting standards, otherwise there is a loss of trust and an increasing chance of fraud. Pretty much every individual is in some way impacted by the decisions and actions of an accountant they’ll never meet.

Finally, C.I.M.A. code of ethics states that all professional accountants have to comply with relevant regulation and laws and are not allowed any actions that will risk the profession. (CIMA, 2015)

Paper concentrates on the specific instance of professional ethics in the connection of the accounting calling. After quickly examining late occasions that made us reevaluate our understanding of corporate governance, accountancy and ethics, we attempt to delimit the cutting edge by taking a gander at ethics from the accounting callings ' point of view. Instructing ethics to accounting understudies ought to no more attempt to persuade them that they ought to act in an ethical way, however raise their mindfulness with respect to ethical issues in accounting practice. Codes of ethics are subsequently helpful by considering normal issues being managed inside the business environment. It is here that we attempt to bring our commitment by building up a theoretical methodology that would improve ethical conduct. At the point when intending to elucidate professional ethics, we nearly break down respectability taking into account the most recent improvements embraced by European professional bodies. Discoveries are utilized as a part of recognizing approaches to add to the attempt of adjusting the calling 's execution to society 's sensible desires.

This research paper is on Rules of Professional Ethics and Conduct of the American Institute of Certified Public Accountants. They will be four cases that will be discussed for violation for the following rules. They are Rule 102 – Integrity and Objectivity, Rule 201 – Professional Competence, Rule 202 – Compliance with Standards, and Rule 501- Acts Discreditable. They will be 4 main points that will be discussed on