Ethics and Professional Conduct in Accounting

This assignment delves into the crucial role of ethics within the accounting profession. It emphasizes the significance of ethical codes and conducts, highlighting how they shape professional behavior and contribute to the common good. The text explores the multifaceted nature of professional ethics, encompassing both theoretical knowledge and practical application in diverse accounting activities. It also stresses the importance of aligning personal career choices with ethical principles and societal benefit.

Introduction
This article aimed at a reflective analysis of content, where some considerations were exposed
about the professional ethics of the public accountant. The methodology used was of
documentary nature, being carried out a bibliographical revision. It was based on the theories
related to the topics addressed, such as: (1) the use of theories in the context of the research
(Duska and Duska, 2011).
Today many people forget about values because they think that not using them all favors them.
The reason why people do not have business ethics is as the Bible says because they love
themselves and the good they want only for them.
Importance of Ethics in Business
Values in business are
very important because they help us to do everything very well, to be successful people but to
feel good about ourselves. That we have more clientele, etc. By having business ethics, others
can copy our example and we can achieve a better society. The best thing is that we please God
with this attitude (Professional ethics in accounting and finance, 2012).
Q2. Are you aware of your organisation’s code of practice and related polices and procedures
Moral norms have always disrupted the human person, since we were little we were oriented by
their existence, being affected in order to try to guide and even determine human behavior; since
these norms exist in the conscience of each one, provoking the existence of different points of
view, which entails to consider the different existential responses that people exert in front of
them (Jeffrey, 2016).

Some authors, consider that professional ethics has a broader meaning than deontology, since it
can not only be limited to the duties and obligations articulated in a set of norms or codes of each
profession, to address the virtues and professional roles.
Q1. Are you aware of your professional body’s code of practice?
In this sense, defines professional ethics as the part of general ethics, in particular, the duties and
rights of professions, where codes of ethics serve as a guide for moral action, incorporating the
different fields of work, with the intention of respecting their profession, of working with loyalty
and of fulfilling society (Jeffrey, 2013).
Therefore, it can be considered that the teaching of ethics has as an objto provide key
instruments relevant to have ethical criteria and choice, provided by every citizen involved in
public affairs. In this sense there is a strong interest in education for citizens, whose objective is
to contribute to the formation of more competent citizens, (2000), cited by Fuentes (2006), show
that professional ethics are characterized by the following:
The belonging of an individual to a profession means then, that in addition to the competence of
that profession, shares its inherent ethical principles of action. Put the accent on what is good to
do; that which is proper to each profession in the level of moral behavior.h. It treats the diverse
possibilities of acting well in several professional activities. In a strict sense, the professional
ethics is designated only to the university careers (Klein, n.d.). In a broader term, it also
encompasses permanent and remunerated trades and jobs, although they do not require a
university degree.

Are you aware of your organization’s code of practice and related polices and procedures
The intellectual capacity consists in the set of knowledge that, within its profession, makes it apt
to develop specialized works. This knowledge is acquired primarily during university studies, but
must be updated through courses, journals, conferences and library consultations. The moral
capacity is the value of the professional as a person, which gives dignity, seriousness and
nobility to his work, deserving the appreciation of all who find. It encompasses not only honesty
in the treatment and business, in the sense of responsibility and in the fulfillment of the
agreement, but also the ability to transfer its own professional sphere in a much broader horizon.
What influence doe these codes of practice have on your working behaviour and that of your
peers and colleagues?
Physical ability refers primarily to health and bodily qualities, which is always necessary to
cultivate physically, as good instruments of human activity. It is convenient to consider certain
typical duties in every professional (Jeffrey, 2010). Professional secrecy is one of these; the
professional does not have the right to disclose information entrusted to him to carry out his
work,
Q4. What are the possible consequences if any of these codes are breeched?
The possible consequences of any breeched code of conduct are imprisonment, fines or
imposition of restrictions on a person. In employment, the consequences of breech of codes in
employment are simply to sack or suspend a person engaged in unethical acts. Many are fired
and then taken to court for professional breech of conduct but their reputation is also ruined. In
my case, if I breeched any code of conduct knowingly or unknowingly, I would resign from my

position due to the fact that I want my image intact. The law must also take its course in
punishing offender and those who breeched the code of conduct (Jeffrey, 2013).
Q5. Do you have a strong work ethic and
I do have a strong work ethics. In fact, I follow the laid rules and procedures and the code of
conduct of an institution. It should be noted that the rules and regulations create a strong work
ethic. This leads to increased productivity, efficiency in work place and increased output. A
social human activity, because it is an essential specific. It is demanded by the society.. In
addition to including the internal rules of the collective, it takes into account a broader
perspective. Its ethical content derives from the ethical sense that provides its end, the good that
contribute or procure. It requires the appropriate use of competence: theoretical training
(knowledge-learning, learning-culture, technology and foreign languages). Practical training
(skills, technical and social: trust, independence, tolerance, discovery of the other, participation
in common projects, and intercultural enrichment).
Q6. How would ethics affect you and your work colleagues?
The effects of ethics are centered on productivity and morality in work. This will create the
workers to work coherently and in regard to the work regulations. This are the questions one
should ask Ethics in Business
Am I a person with Ethics in Business?
One way to realize if we are people with business ethics is by asking ourselves these questions:
Do I really work the time and the complete hours, to receive the same monthly salary in the same
way (Jeffrey, 2013).

Those who are business owners should ask themselves:
Do I offer the consumer what I promised in the advertisement? Is the customer paying fairly for
the quality he receives.
Benefits
Feel good about yourself.
Good reputation of the company.
Good reputation as an employee.
Increases
It can be promoted if observed by your boss
Success in sales
Customer preferences towards the company
Q7. What actions would you take if you see unethical practices in the workplace?
Today many people forget about values because they think that not using them all favors them.
The reason why people do not have business ethics is as the Bible says because they love
themselves and the good they want only for them.
Importance of Ethics in Business
Values in business are
very important because they help us to do everything very well, to be successful people but to
feel good about ourselves. That we have more clientele, etc. By having business ethics, others
can copy our example and we can achieve a better society. The best thing is that we please God
with this attitude (Jeffrey, 2013)

Research on (Professional Body eg – CA or CPA)
Outline the professional body – who they are etc and their charter/purpose
Chartered Accountants Australia and New Zealand is a professional body that is formed by
accountants for the accountants in Australia and New Zealand. The company’s has been formed
to empower its members from New Zealand and Australia to become shapers and leaders of
business and finance. It is however not compulsory for accountants to be members of this
professional body. The main purpose of CAANZ is to make sure that their members do their jobs
properly. The accounting body is responsible for setting and assessing professional
examinations, they provide a continuous professional development through planning and other
learning opportunities. The CAANZ provide networks for professionals in the field of
accounting , the body also deals with complaints that are brought forward against their members
and institute disciplinary procedures. CAANZ is also responsible for issuing a code of conduct
guide to their members(Jeffrey, 2010)..
In this context, it is natural that the line for international homologation requires nations, both in
the private and public sectors, to make a series of efforts to disseminate, adapt, learn and apply
the new regulations, to the extent when it is being approved country by country.
For this reason, the various agencies involved in the matter have sought a gradual adaptation
process that allows a smooth transition to responsible audit models and that is in accordance with
the most up-to-date and widespread principles in the global environment, which take into
account the specific characteristics of each country(Duska and Duska, 2011).
Outline their current code of practice

The current code of practice gives updates on how Financial statements presentation is to be
made. There are requirements when preparing financial statements such as the balance sheet,
income statement and cash flow statement. All updates are also done by the professional body to
the members.
The Professional body communicates with its members through various media. First, there are
always meetings that are organized by the body to update its members on developing issues.
These meetings may take place once in every month or on a quarterly basis. Another
communication method that the body uses to communicates to its members is by publishing
journals and magazines and through its website.
There are legal ramifications if the professional breaches his/her code of conduct. One is that the
professional might be sued by both the client that he/she is working for thus loose his/her job if
found culpable. Second, there are other internal disciplinary actions that may be taken by the
CAANZ such as being prevented to work as an accountant for a number of years or fines may be
imposed on the person(Jeffrey, 2010)..
Moral norms have always disrupted the human person, since we were little we were oriented by
their existence, being affected in order to try to guide and even determine human behavior; since
these norms exist in the conscience of each one, provoking the existence of different points of
view, which entails to consider the different existential responses that people exert in front of
them.
Some authors, consider that professional ethics has a broader meaning than deontology, since it
can not only be limited to the duties and obligations articulated in a set of norms or codes of each

profession, to address the virtues and professional roles.
In this sense, professional ethics can be defined as the part of general ethics, in particular, the
duties and rights of professions, where codes of ethics serve as a guide for moral action,
incorporating the different fields of work, with the intention of respecting their profession, of
working with loyalty and of fulfilling society.
For this reason, ethics education can be considered as providing key instruments relevant to
ethical criteria and choice, provided by the professional body to its members. In this sense, there
is a strong interest in member education, whose aim is to contribute to the formation of more
competent professionals, who can commit themselves to collective responsibilities from their
profession. The professional body must give provide relevant information to emerging issues in
the field of accounting.
Reflections
Ethics and codes of conducts.
In accounting the following have been observed and show that professional ethics is
characterized by the following:
a)social human activity, because it is an essential specific good.
b. It is demanded by society.
c. In addition to including the internal rules of the collective, it takes into account a broader
perspective.

d. Its ethical content stems from the ethical sense that provides its end, the good they contribute
or seek.
e. It requires the appropriate use of competence: theoretical training (knowledge-learning,
learning-culture, technology and foreign languages). Practical training (skills, technical and
social: trust, independence, tolerance, discovery of the other, participation in common projects,
and intercultural enrichment).
F. The belonging of an individual to a profession means then, that in addition to the competence
of that profession, shares its inherent ethical principles of action(Duska and Duska, 2011).
g. Put the accent on what is good to do; that which is proper to each profession in terms of moral
behavior.
h. It addresses the various possibilities of doing well in various professional activities.
In a strict sense, professional ethics is designed only for university degrees. In a broader sense, it
also encompasses permanent and remunerated trades and jobs, even though they do not require a
university degree.
Conclusion
The choice of profession must be completely free. Vocation should be understood as the
disposition that makes the subject especially apt for a certain professional activity. The choice of

a professional career, without taking into account the qualities and preferences, but, for example,
exclusively the tastes of the parents, or the interests of the family, can easily translate into a
failure that, in the best of cases, would consist of a career change in the first or second year, with
the consequent loss of time and effort.
On the other hand, the purpose of professional work is the common good. The training required
to perform this work is always oriented to a better performance within the specialized activities
for the benefit of society, otherwise a profession becomes a means of profit or honor, or simply
in the instrument of the moral degradation of the subject itself(Duska and Duska, 2011).
The ideal is to take into account the pleasure and usefulness of the profession; nevertheless, the
whole world inclines by nature to the consideration of his personal advantage; the profession
thanks to those same works, leaves one of the deepest satisfactions in the professional. A
professional body must give guidance to its members so that they can act ethically in the jobs.

References
Duska, R. and Duska, B. (2011). Accounting ethics. Oxford: Wiley-Blackwell.
Jeffrey, C. (2007). Research on professional responsibility and ethics in accounting. Amsterdam:
Elsevier JAI.
Jeffrey, C. (2010). Research on professional responsibility and ethics in accounting. Bingley,
U.K.: Emerald.
Jeffrey, C. (2013). Research on professional responsibility and ethics in accounting. Bingley,
U.K.: Emerald.
Jeffrey, C. (2014). Research on professional responsibility and ethics in accounting. Bingley,
U.K.: Emerald.
Jeffrey, C. (2016). Research on professional responsibility and ethics in accounting. United
Kingdom: Emerald Publishing.
Klein, G. (n.d.). Ethics in accounting.
Professional ethics in accounting and finance. (2012). London: BPP Learning Media Ltd.
.