Nonprofit Ethics

803 Words3 Pages
Accounting looks at issues pertaining to transparency, integrity, effectiveness and accountability in the management of the affairs, and all other activities of an organization. The concern is for the welfare, good performance, corporate ethics and morality, as well as social and public responsibility for the good stewardship of governments and not for profit entities. This involves a system to ensure that the organization's obligations to its major stakeholders. The relationship among the many stakeholders and the way an organization is directed and governed is therefore created. Stakeholders might include customers, employees, creditors, suppliers and distributors, the community and the owners at large. The principle stakeholders are the board of directors, managements and employees. The first model of government and non-profit implementation often involves three groups: - executive board, supervisory board, and advisory board whose are appointed by shareholders to run the organization except the last group are bought in as independent experts to assist the company. Hence, what are good practices of corporate governance? How to ensure the directors act in the interests of the public? As a result, the reform of accounting has developed debating the directors should act in the interests of all those to whom they owe duties, or the stakeholders. A more complex regulation of company law has developed to prevent recurring scandals. A good system and governance makes sure that
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