Chapter 4 Professional Ethics
Review Questions The six core ethical values described by the Josephson Institute are: 1. Trustworthiness 2. Respect 3. Responsibility 4. Fairness 5. Caring 6. Citizenship
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There are many other potential sources of ethical values, including laws and regulations, church doctrines, codes of professional ethics, and individual organizations’ codes of conduct. 4-2 An ethical dilemma is a situation that a person faces in which a decision must be made about the appropriate behavior. There are many possible ethical dilemmas that one can face, such as finding a wallet containing money, or dealing with a supervisor who asks you to work hours without recording them. An ethical dilemma can be resolved
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In addition, an accountant is not independent of an audit client if an audit partner received compensation based on selling engagements to that client for services other than audit, review and attest services. Companies are required to disclose in their proxy statement or annual filings with the SEC the total amount of audit and nonaudit fees paid to the audit firm for the two most recent years. Four categories of fees are to be reported: (1) audit fees; (2) audit-related fees; (3) tax fees; and (4) all other fees. Companies are also required to provide further breakdown of the “other fees” category, and provide qualitative information on the nature of the services provided. 4-8 The rules concerning stock ownership by partners and professional staff: A partner in the office of the partner responsible for an audit engagement cannot own stock in that audit client. A partner can own stock in an audit client, as long as (1) he or she cannot influence the audit engagement and (2) he or she is not in the same office as the partner responsible for the audit engagement. A professional staff member cannot own stock in an audit client if he or she is assigned to the engagement or if he or she becomes a partner in the office of the partner responsible for the audit engagement. A professional staff member can own stock in a firm’s audit client as long as he or she does
An ethical dilemma is defined as a moral issue, where a situation has two equivalent undesirable alternatives and neither choice will resolve the ethical predicament.
The practice of moral conduct challenges the generally accepted standards. An ethical dilemma is defined as a person has difficulty doing what is right, does not know the correct course of action, or someone who finds the wrong choices alluring (Pollock, Ph.D. & Becker, J.D., 1996). The essential value of studying and understanding ethical dilemmas is not that we have conclusive guides to conduct ourselves morally. Rather, the values lie in becoming conscious of the moral options that are available to us (Guttman, 2000).
Values and morals are an integral part of life; values define who we are on a personal and professional level. My personal and professional values are similar but are used differently on a personal and professional level. In this code of ethics I have identified my core values as respect, honesty, loyalty, integrity, professionalism, and responsibility. Developing a code of ethics has provided me with an opportunity to reflect on my values and evaluate how I turn those values into action.
Ethical dilemma is often defined as a situation involving two choices that will both have a negative result or both have a positive result. Knowing this, ethical dilemma is found in your every day lives and is illustrated in ways that might not be recognizable at all times. Remember the Titans is a film produced in 2000 about two high schools, one white and one black school, which are combined and integrated. The movie is shown through the eyes and ways of the high school football team where the teams is forced to integrate and they learn to depend on each other. Ethical dilemma is found in this movie several times, but there is one that is found in the basis of the movie, racism.
One the other hand, ethical dilemmas are circumstances where an individual has to decide what to do. The right choice may be difficult because of the scarifies involved or it may be unclear. Dilemmas usually happens when a person struggles with making a personal decision, where ethical issues may be a topic the person has an opinion about but doesn’t have a chance to make a stand that impacts the decision (Slade, & Prinsloo,
Ethics refer to the values that guide a person, organization or society - - the difference between right and wrong, fairness and unfairness, honesty and dishonesty.
Ethical and unethical situations occur on a daily basis and are seen all around us. Being ethical requires one to take responsibility for their actions and doing what is right in any given circumstance. Every person has the power to dictate their actions on how they are going to handle any situation they are put in. I have experienced numerous amounts of situations that have tested my ethical behavior and actions. Throughout my experiences, I have realized that ethics has a great impact on many different aspects of life such as society, career, and personal life. Understanding the meaning of ethics allows me to grow as a person and to truly do what is right with any issue I am faced with.
ETHICAL DILEMMAS ARE ALSO KNOWN AS MORAL DILEMMAS WHERE A SITUATION PRESENTS ITSELF AND ONE HAS TO CHOOSE BETWEEN DIFFERENT OPTIONS, NEITHER OF WHICH RESOLVES THE SITUATION IN A VERY ACCEPTABLE ETHICAL MANNER. IN SITUATIONS WHERE ETHICAL DILEMMAS PRESENT THEMSELVES, THEY ASSUME THAT THE CHOOSER WILL ABIDE BY SOCIETAL NORMS SUCH AS RELIGIOUS TEACHINGS OR THE RULING LAW. ETHICAL DILEMMAS CAN OCCUR IN THE VARIOUS DIFFERENT SITUATIONS OF LIFE, FROM THE WORK PLACE, SCHOOL AND FAMILY TO EVEN PERSONAL FRIENDSHIPS (HUI, 2002). IN THE CASE OF A DILEMMA, ONE IS EXPECTED TO FOLLOW THE SOCIETAL NORMS THAT GOVERN PERSONAL BEHAVIOR AND RELATIONSHIPS.
Values relate to principles and attitudes that provide direction to everyday living. Values also refer to beliefs or standards considered desirable by a culture, group or individual (AASW). Similar to values, but slightly different, ethics means a system of beliefs held about what constitutes moral judgement and right conduct, they are moral principles (rules, guides) (AASW). So an ethical dilemma is then when a person is faced with a choice between two equally conflicting moral principles and it is not clear cut which choice will be the right one (AASW). Finally, ‘a code of ethics’ is an explicit statement of the values,
Ethical dilemmas are defined situations in which, there is a choice to be made between two options, neither of which resolves the situation in an ethically acceptable fashion (Your Dictionary). I had not been practicing as a nurse for long when I had to face an ethical dilemma. At the time, I was working at a long-term care
An ethical dilemma plays an important role in business. Ethical dilemma – moral situation where a choice have to be made between two equally unwanted alternatives. While a business dilemma according to Fernando (2009) is when the decision maker of organization meets a choice between two or more variants that will have a different influence on income, competitiveness and shareholders of organization.
Ethical defined as pertaining with the principles of morality and to pertaining to right and wrong in behavior. Ethical is we act according to the rules and standards without condemning all illegal activities. Dilemma is situation in which it must be a difficult choice between two or more alternatives, particularly those that are also to be avoided. For instant, a person is obliged to choose between two or more alternatives that are not adversely. An ethical dilemma is a problem, to the situation or opportunity, requires that the person, group or organization to choose between wrong or unethical actions (Ferrell, Fraedrich and Ferrell, 2010). Ethical dilemma have identified to the three categories coercion and control, conflict of interest
Ethics is defined as “moral principles which govern a person’s behavior.” Ethics drive our decision making, especially within conflicts. Everyone is faced with ethical dilemmas. I know I’ve faced many, one of them was the time I watched my friend steal from a store. I could have stopped her actions just by telling her she was wrong, however, I did nothing. I had a responsibility to do something, and because I didn’t, I’m just as culpable. I was basically her accomplice in the crime. At that moment, I didn’t want to get my friend in trouble. She was more important to me than the right or wrong of the situation. My ethical principles were misguided.
Ethics is the branch of philosophy that deals with the principles correlated to human behavior concerning the rightness and wrongness of specific conduct, and to the good and bad that influences and ends those actions (Ditonary.com, 2011). In other words, ethics is the choice people effect in regards to a decision they need to achieve. Without ethics directing the choice an individual makes, moral preferences of what should or should not be done becomes irrelevant. While ethical decisions are made every day there are two different regions in which these choices are made.
Each and every day I encounter the different aspects of what is ethics. I work in a environment as I am a manager of a restaurant and I often have to make decisions about what is right and what is wrong as I manage a crew