Ethics and Sustainability in Accounting Profession

Accounting in
Professionals- Ethics
and Sustainability

Table of Contents
INTRODUCTION...........................................................................................................................1
PART 1............................................................................................................................................1
Identification and explanation of ethical dilemmas which are affecting the accounting
profession.....................................................................................................................................1
PART 2............................................................................................................................................3
Identification and description of sustainability challenges that are affecting accounting
profession and threatening existence of the planet......................................................................3
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Accounting could be defined as the process of recording information of financial aspects
in the books and reports. It is very important for all businesses and accounting professionals to
be focused with ethics and sustainability as it can help them to deal with all the issues which may
take place in future (Boutellis-Taft, 2019). For all the accounting professionals it is very
important to make sure that they are performing all their jobs in ethical manner as it will help
them to sustain in long run. Present essay is based upon various types of ethical dilemmas and
sustainability challenges for accounting profession and the way in which these are becoming
threat for planet.
PART 1
Identification and explanation of ethical dilemmas which are affecting the accounting profession
Accounting profession could be defined as the career which is focused with performing
all activities that are related to recording information of business transaction in books or other
reports. For all the accountants it is very important to make sure that they are performing all their
jobs in ethical manner (Yanti and Astuti, 2016). While trying the same they may face various
types of issues which are described below:
Omission of financial records is one of the main ethical issues which are faced by
accounting professionals. A senior executive or the corporate officer can ask the accountants to
omit specific financial figures from final accounts which may portray negative image of the
entity in front of investors and customers. The omission which is done knowingly is a breach of
accounting ethics and it involved manipulation of the financial statements so it is an ethical
problem. The parties which may get affected due to it are customers, accountants and
government. They will get affected because the information which will be shared with them will
be biased and inaccurate. The public interest will also be impacted because of this issues because
it will leave negative impact upon their mind set regarding the accounting profession. When
accountants will omit the information knowingly then it will also leave negative impacts on their
profession and a negative mind set for it will be developed by the individuals. The solution for
this issue is that the accountants should ignore the omission which is asked by executives so that
they can perform all their jobs with high level of integrity. There are various types of ethical
principles which may get affected due to this issue (Çalıyurt, 2019). These are professional
1