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Accounting Professional & Ethical Standards Doc

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Added on  2020-12-09

Accounting Professional & Ethical Standards Doc

   Added on 2020-12-09

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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................................1MAIN BODY..................................................................................................................................................1Demonstrating how APES 110 may contribute towards development of trust of the public inaccounting profession.......................................................................................................................1CONCLUSION...............................................................................................................................................5REFERENCES................................................................................................................................................6
Accounting Professional & Ethical Standards Doc_2
INTRODUCTIONProfessional Ethics in accounting profession is important for delivering better services to clients.Present report deals with APES (Accounting Professional & Ethical Standards) 110 which is imparted byAPESB of Australia giving ethical code of conduct to all its members. Report surrounds overdemonstrating how APES 110 can contribute towards the development of trust of public in accountingprofession. Various sections enumerated in code are explained with focusing on ethics which areprovided to clients in imparting competent services leading to maximum satisfaction and due reputetowards profession. Professional ethics means guidelines being imparted to accountants to actresponsibly in providing services of accounting and also to review confidential financial information ineffective manner. Moreover, sound judgement should be made with relation to all accounting activities.Technical accounting standards such as APES 110 must be followed with due care while deliveringservices.MAIN BODYDemonstrating how APES 110 code may contribute towards the development of trust of publicin accounting professionAPESB (Accounting Professional & Ethical Standards Board) has provided various guidelineswhich are to be followed by organisation in delivering services to clients. In relation to this, APES 110 isdedicated to code of ethics for professional accountants imparting clarity to public that ethics are beingaccounted for while providing services. Accountants in practice must comply with all sections of codeand engage in giving fair facilities so as to enhance greater trust among public towards accountingprofession quite effectually. As governed by the code, professional activities means accounting skillsundertaken by members that may include auditing, taxation, consulting to management and financialmanagement. Member in practice provides all such services in terms of payment granted from clientsand thus, delivers competent services by complying with the professional ethics code of APES 110. Logical argument- Professional ethics in accounting is a moral-based standard conduct utilisedfor distinguishing acceptable things from unacceptable one.Section 100 Introduction and Fundamental PrinciplesIt is listed with fundamental principles and introduction of APES 110 having various regulationsto be followed so as to abide by code and thereby, delivering professional services complying with ethicsin the interest of public. In relation to this, distinguishing mark of accounting profession is to accept1
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