Ethics in Accounting: Accountancy Assignment
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Added on 2020-05-28
Ethics in Accounting: Accountancy Assignment
Added on 2020-05-28
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Running head: ACCOUNTANCY AND ETHICAL BEHAVIOURACCOUNTANCY AND ETHICAL BEHAVIOURName of the student:Name of the university:Author note:
1ACCOUNTANCY AND ETHICAL BEHAVIOURContentsIntroduction:....................................................................................................................................2Responsibility of an ethical accountant:..........................................................................................2Responsibility:.............................................................................................................................2Different ethical guidelines that need to be followed:.................................................................3Unethical behaviors done by accountants:..................................................................................3Important ethics:..............................................................................................................................4Integrity:......................................................................................................................................4Objectivity and independence:....................................................................................................4Due care:......................................................................................................................................5Different ethical dilemmas and necessity to be ethically correct:...................................................5Pressure from the management:...................................................................................................5Whistleblowers:...........................................................................................................................6Omission:.....................................................................................................................................7Conclusions:....................................................................................................................................7References:......................................................................................................................................8
2ACCOUNTANCY AND ETHICAL BEHAVIOURIntroduction:The accountancy profession requires a professional working in the private or publicsector to maintain a number of ethical guidelines. They need to remain impartial and loyal to theethical guidelines while reviewing the organization or an individual’s financial records mainlyfor the reporting purposes. Such professionals often have to encounter various types of ethicaldilemmas regardless of the industry he is working in (Gavnor et al. 2015). It is very muchimportant for the accountant professional to be vigilant continually for the reduction of thevarious outside forces that manipulate financial records leading to criminal and ethicalviolations. Each nation has their own set of ethical guidelines for their accountants, which areexpected to be followed by the professional to ensure honesty and integrity in the data providedto public. All these when followed properly ensures ethical practices. However, often manysituations arise which prevent the professionals to conduct practices, which go against theguidelines like tremendous pressures from management, unethical demands of employees,employer’s pressure and many others (Jing 2017). The assignment will mainly show how ethicalguidelines help in proper accountancy. It will also show the ethical dilemmas faced byprofessionals and what initiatives they can take to overcome them effectively.Responsibility of an ethical accountant:Responsibility:Individuals who are pursuing the accountancy profession always have a considerableamount of responsibility towards the public. Such individuals handle information about the
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