Wednesday, 30 April 2014

ACC 557 Assignment 1: Review of Accounting Ethics

ACC 557 Assignment 1

Review of Accounting Ethics

Given the corporate ethical breaches in recent times, assess whether or not you believe that the current business and regulatory environment is micro conducive to ethical behaviour. Provide support for your answer

Ethics in business is an issue of significance for the success of an organization (Lowthrope, 1998). Recently, there have been a number of corporate ethical breaches reported. A huge percentage of the public and other stakeholders have the feeling that the benchmarks in ethics have been violated. There is no honesty in most business transactions and dealings. In the profession of accounting, ethics should be the building block of accounting activities. Clients depend on the accountants for impartial data about their company. The accounting job requires accuracy and keen observation of ethical standards. A country economic stability depends mostly on very independent audits and financial statements.

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