Exploring Implications of Accounting Ethics on the Profession

This essay delves into the implications of accounting ethics on the accounting profession, examining how ethical codes and standards influence professional conduct. It reviews literature highlighting the importance of ethical obligations and the challenges faced by accounting professionals in maintaining ethical practices amidst conflicting interests and societal pressures. The research methodology incorporates both qualitative and quantitative approaches, utilizing surveys and data analysis to assess the impact of ethics on accounting practices. Key areas of focus include honesty, integrity, objectivity, and compliance with ethical and technical standards in audit presentations and tax matters. The essay concludes that strong ethical codes are essential for upholding the credibility and reputation of the accounting system, preventing fraudulent activities, and ensuring the integrity of financial reporting. It also suggests that leveraging technology and digital solutions can enhance ethical awareness and safeguard against unethical behavior in the accounting profession. Desklib provides access to similar essays and study resources for students.

Accounting and Ethical Issues
Research title: Implications of Accounting Ethics on the Practice of
Accounting Profession
Students name:’
Students ID:’
Word limit: 1500
1

Accounting and Ethical Issues
Contents
Introduction.................................................................................................................................................3
Body............................................................................................................................................................4
Literature Review of the Accounting Profession.....................................................................................4
Implications of the ethical issues in the current scenario.........................................................................5
The methodology of the research work of the accounting profession......................................................5
Tests and hypothesis................................................................................................................................6
Conclusion...................................................................................................................................................7
References...................................................................................................................................................9
2

Accounting and Ethical Issues
Introduction
At the time several situations arise where guidelines of the ethical codes are being followed to
regain the loss of revenue system or of a personal interest about the cultural background to
ensure the healthy impact of the ethical well as societal values systems on the accounting
professional conduction. The professional business which is running well ascertains the
consistent norms and Standards to evaluate the ethical considerations being implemented as well
as improved to make the compensation for the lost economy and confidences. Several
corporations are working in favor of ethical implementation and the accounting Institutions such
as the bank and other Financial Institutions Decree in the year 2004, corrupt practices and the
other relevant offenses be executed according to the particular act in the year 2003, etc.The
concerned authorities make sure the profession of the particular business is running well
according to the necessity and the professional standards that are been carved out in order to
remove all kinds of loopholes pertaining to the ethical lapses and the professional accounting
bodies in order to make the financial as well as reporting management so as to synchronize with
organizing cultures and the atmosphere causing a great concern and a great opportunity for those
accountants who are actually indulged in the governmental regulations. The implications of
ethical issues and the ethical standards are being set to present a wider view for the professional
accounting bodies present in a particular area and make the accounting department Facebook
challenges in the most convenient and suitable way. Several recognized professional accounting
bodies have ensured that the challenges that are being faced as per the ethical standards and the
practices which are prevailing in context of the professional practice growing and blooming in
the public practice and their counterparts prevailing in the private as well as government sectors
3

Accounting and Ethical Issues
(Jackling, 2007).Sometimes a situation arises where there is a competition between various
solutions being produced by the ethical standards as per the public practices in the accounting
system where the irresolvable conflicts over power the community disturbances and the issues
about self-interests. The lawmaking bodies are under the process of making the codification
which is according to the binding rules of those norms as well as guidelines of the delivery of
standards where the particular body such as Parliament can address the very important
qualifications and normalize the essentials in a civilized community (Lander, 2008).
Literature Review of the Accounting Profession
The concerned recognition professional accounting bodies reinforce the best practices which can
make the positive molding of the ethical obligations towards the accounting profession. The
objective of this particular study also pertains to the questions such as whether the accounting
ethics are capable enough to carry out the successful implementation of all the accounting
profession and whether the ethical codes can address all kinds of issues about the practices of
accounting profession (Velasquez, 2016).So there is a need for the study in order to accentuate all
kinds of sir and legal ethical values in the present system of public accounting in order to have
the criticism to be invited from the diverse areas and make the challenges been resolved as in the
professional accounting system and the associated counterparts (Phillips, 2012).
Therefore, the research hypothesis has been made which makes the resolution in context with the
professional codes of conduct to remove negatives of the ethical and social obligations prevailing
in the corporate society (Fiolleau & Kaplan, 2017).
The methodology of the research work of the accounting profession
4

Accounting and Ethical Issues
The ethical study is conducted is therefore given importance to conclude in favor of or against
the hypotheses being made to examine all kinds of implications of ethics in the profession of
practices of an Accounting system (Mintz, 2006).
The type of questions is organized in the structured way to save the responses being produced by
survey respondents after the background information is available for the organization type,
gender, years of experience and knowledge of ethical obligations and issues in everyday
life.After the preparation of the questionnaire based on the organization and the frequency being
assisted constitutes the audit practices as well as the Tax practices as per the government
parastatals and statutory bodies better working in the context of ethical obligations and ethical
value reconfiguration (Bayou, 2011).
Here, the research methodology will include both of the qualitative and quantitative research
system where both of them are discussed below.
Qualitative research:
During qualitative research practices, enormous primary and secondary sources of information
are studied. In this aspect, internet based web reports, historical data sheets from libraries along
with research thesis of previous research scholars are very crucial in this aspect. In the
beginning of the research it is observed that research questions are based on importance of ethics
in the present economical accounting system. After going through a lot of research paper, it has
helped research paper to establish a stable hypothesis. In this object, a great analysis helps to
solve the ethical issues. In this aspect, literature review is also done to provide the thorough
solution in the research on the ethical issues in the accounting system.
Quantitative research:
5

Accounting and Ethical Issues
Quantitative research will be done after gathering lots of data from finance and accounting
departments of enormous organizations. It will provide a great interpretation field also for te
researchers to make a proper conclusion of the research along with satisfactory answers of all the
research questions.
6

Accounting and Ethical Issues
Finding and explanations:
The range of capturing the opinions can vary from six months to the three years of experiences
that totally depends upon the execution of the accounting regulations with the ethical codes
of conduct. By preparing the questionnaire one can focus on the specific areas in which the
people can respond and produce the respective remarks. The specific areas can be honesty,
integrity, probity, objectivity, audit presentation of the report, tax matters, tax compliance
with the ethical as well as technical standards, etc. (Choi, 2011).Therefore, the role of
various accounting professionals can be assessed about the accounting compliance of the
internal professional controlling system and the audience in the ethical standards can
perform the greater role in contributing to the improvement of the policies about the
investigation and the performance of the roles in an organization. The identification of the
frauds and the formation of the organization with can not only catch the unethical behavior
but also can make the supervision for the degradation of the credibility as well as a
reputation of a particular individual or Association. Hence the implications of the ethical
values and their obligations are very much essential for the improvement of the compliance
of the internal professional accounting standards in order to have the financial and
accounting setup to punish the people who are indulged in the fraudulent activities and not
abiding to the predetermined standards of accounting management ethics (Koehn,
Ronald, Duska and Brenda, 2005). To enhance the ethical awareness in the
current accounting system, it is crucial to make the entire system in a digitalized manner.
This will help all the organizations to be protected from fraudulent. Another impactful
conclusion will be the implementation of internet cloud in the organizations to safe all the
digital data safe and protected. From this research all the interepreted data are utilized.
7

Accounting and Ethical Issues
Conclusion
From the above research work and hypothesis being made one can conclude that the ethical
codes and standards which are working for the accounting professional system and the other
professions influence strongly and the code of conduct of the accounting professionals are trying
to manage as well as positively impact the professional codes of conduct by following the
guidelines and policy framework prepared as per the conduct of accountants (Koehn et al.,
2005). The legalization of the accounting system has been made to convey the societal values
and the other ethical codes of conduct to make the accounting system free of the risk of the
degradation of the reputation and credibility of the accounting system and the associated risks as
per the litigation and fraudulent activities. The ethical injuries can cause the implications of the
accounting system to behave in the most adverse manner, and the daily practices can also exert
high pressure if the norms and guidelines are not followed according to the statutory body
framework. Periodic assessments have to be made in order to capture the results as per the
respondents and the local people working in the accounting professional sector to draw the
attention of the supervision organizations for the preliminary investigation for the eradication of
the malpractices which can in turn harm the confidentiality and the integrity of the ethical values
and trust if all accounting professionals on the same. The most breaching offenses and glitches
majorly attract the degradation of the quality of the professional bodies and therefore formulate
the decree for the declaration of adherence with the codes of conduct in a periodic manner. The
implication of the accounting values and the ethical codes of conduct play a crucial role in
supervising the violations of ethical guidelines along with providing safety to the accounting
activities.
8

Accounting and Ethical Issues
References
Bayou, M., Reinstein, A., & Williams, P. (2011). To tell the truth: A discussion of issues
concerning truth and ethics in accounting. Accounting, Organizations and Society, 36(2),
109-123.
Choi, T., &Pae, J. (2011). Business Ethics and Financial Reporting Quality: Evidence from
Korea. Journal of Business Ethics,103(3), 403-427.
Fiolleau, K., & Kaplan, S. (2017). Recognizing Ethical Issues: An Examination of Practicing
Industry Accountants and Accounting Students. Journal of Business Ethics,142(2), 259-
276.
Jackling, B., Cooper, B., Leung, P., &Dellaportas, S. (2007). Professional accounting bodies'
perceptions of ethical issues, causes of ethical failure and ethics education. Managerial
Auditing Journal,22(9), 928-944.
Lander, G., & Auger, K. (2008). The need for transparency in financial reporting Implications of
off-balance-sheet financing and inferences for the future. Journal of Accounting &
Organizational Change,4(1), 27-46.
Tweedie, D., Dyball, M., Hazelton, J., & Wright, S. (2013). Teaching Global Ethical Standards:
A Case and Strategy for Broadening the Accounting Ethics Curriculum. Journal of
Business Ethics, 115(1), 1-15.
Voinea, M., &Dimitriu, O. (2014). Manipulating User Behavior through Accounting
Information. Manipulating User Behavior through Accounting Information,15, 886-893.
9

Accounting and Ethical Issues
Boyce, G. (2014). Accounting, ethics and human existence: Lightly unbearable, heavily kitsch.
Critical Perspectives On Accounting, 25(3), 197-209.
Koehn, J. (2005). Accounting Ethics. Accounting Ethics Ronald F. Duska and Brenda Shay
Duska Malden, Mass.: Blackwell Publishing, 2003, 277 pp. Business Ethics Quarterly,
15(03), 521-529.
Mintz, S. (2006). Accounting ethics education: Integrating reflective learning and virtue ethics.
Journal of Accounting Education, 24(2-3), 97-117.
Phillips, N. (2012). Understanding Ethics in Practice: An Ethnomethodological Approach to the
Study of Business Ethics. Business Ethics Quarterly, 2(2), 223.
Velasquez, M. (2016). Why Ethics Matters: A Defense of Ethics in Business Organizations.
Business Ethics Quarterly, 6(2), 201.
10