AUDITING+ASSURANCE...(LL) >CUSTOM<
AUDITING+ASSURANCE...(LL) >CUSTOM<
7th Edition
ISBN: 9781260191233
Author: LOUWERS
Publisher: MCG CUSTOM
Question
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Chapter B, Problem 1RC
To determine

State the role which must be prepared by professional accountant to perform in regard to ethical decision problems

Expert Solution & Answer
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Explanation of Solution

Ethical Decision:

The decisions taken with honesty and objectivity in accordance with the norms and ethics of the organisation are known as ethical decision.

The role which must be prepared by the professional accountant to perform in regard to ethical decision problems are as follow:

  • The value based judgement must be made with combined understanding of specialized ethics.
  • The issues related to a profession must be mentioned with capability, honesty, objectivity and with the motive for the good of public.
  • A professional accountant should have the skills of an agent, advisor, monitor, instructor, spectator and critic.
  • Maintaining high level of ethical standards pays vital role in accounting profession.

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