ethically correct
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Public officials must not only do technical things correctly but they also must do ethically correct things. (Dutelle, 2011)
(A) Discuss the five basics of public sector ethics?
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- Select one of the following principles of professional conduct to examine in the AICPA Code of Professional Conduct document: Responsibilities Public interest Integrity Objectivity and independence Due care Scope and nature of services 1-How would you define and describe your selected principle in your own words? 2-What value does the principle bring to practitioners, businesses, and clients? 3-What is an example of a difficult situation that a practitioner may face related to your selected principle, and what would an ethical response to the situation be? Why might a practitioner be tempted to, or accidentally, not take an ethical course of action?Which of the following statements best explains why public accounting, as a profession, promulgates ethical standards and establishes means for ensuring their observance? A. Ethical standards are established so that users of accounting services know what to expect and accounting professionals know what behaviors are acceptable, and so that discipline can be applied when necessary. B. Ethical standards that emphasize excellence in performance over material rewards establish individual reputations for competence and character. C. A requirement for a profession is to establish ethical standards that primarily stress responsibility to clients and colleagues. D. Vigorous enforcement of an established code of ethics is the best way to prevent unscrupulous acts.1. Why is the practice of 21C public sector accountability considered to be more complex and robust than private sector accountability requirements?
- What other professional business organizations have a code of ethics?To what degree do you think individuals have a responsibility to act ethically within a corrupt system? How would an individual act ethically in this context? Please answer thoroughly and in depth. What legal reforms would you recommend that would make lobbyists more likely to act ethically? Why would you recommend these reforms and how might you implement them? Please answer thoroughly and in depth.Discuss the importance of good governance in the public sector
- 37. The following are value the auditors provide EXCEPT Group of answer choices Internal auditors serve the public and common interests by making sure that owners receive the return on their investments that they are entitled to, and that the means of generating those profits are within the confines of the law. Internal auditors contribute to the principal-agent relationship by making sure that these duties are defined, that structures are set to ensure behaviors are aligned with these objectives and making recommendations to the board and senior management when there are discrepancies jeopardizing the success of these arrangements. None of the choices Internal Auditors can help management identify, plan for, and respond effectively to the primary and secondary stakeholders, the organization will encounter less pushback and it will likely be able to operate with fewer disruptions. Internal Auditors are change catalyst.(a) You recently attended a lecture where it was stated that “professionals all over the world should be alive to their duties and not breach the ethics of their profession”. This statement was an affirmation of what you know that public interest and ethical standards should not be compromised by professionals in the discharge of their duties. Required: a. What is Professional ethics? b. Briefly discuss the importance of professional ethics c. Highlight the differences between rule based and principle-based professional ethics d. Discuss the inherent weaknesses of rule-based professional ethics e. Discuss the advantages of principle-based professional ethics.“IFAC defines the public interest as the net benefits derived for, and procedural rigor employed on behalf of, all society in relation to any action, decision or policy.” “Publicly stating the commitment to serving the public interest over their own and/or their employer’s private interests should make auditors mindful of their role and responsibilities as guardians of the public trust in capital markets and the corporate system,” Van Mourik, C; Humphrey, C (2019) PIE, directors and statutory auditor public interest statements – a note for the Brydon Review as cited in Brydon, D (2019) Report of the Independent Review into the Quality and Effectiveness of Audit. Required Critically appraise the role of the IFAC 2019 Code of Ethics in promoting the consideration of the public interest in professional accountants in business and conclude whether, in your opinion, this discharges our duty to act in the public interest.
- All of the following are overarching principles in the IMA Statement of Ethical Professional Practice except A) responsibility. B) objectivity. C) integrity. D) fairness.Which of the following is NOT one of the AICPA Principles of Professional Conduct? Select one: Organizational sustainability Independence Responsibilities Due CareHow can I answer this question? "The IFAC Ethical Code of Conduct identifies five main key principles, these are Integrity, Objectivity, Professional Competence, Confidentiality and Professional Behaviour. You are required to discuss these key five principles along with the key threats to the ethical behaviour of accountants" Thank you for your support