Accounting Ethics: Principles, Issues and Importance

ACCOUNTING ETHICS
An Overview

 Accounting ethics is regarded as the field of
applied ethics along with the study of moral
values which are basically applied in accounting.
 It can be critically evaluated that it is necessarily
required to follow ethics so that each and every
operation of business can be carried out in an
appropriate manner and will be ethical too.
 Government of every nation has started to
encourage business accountability for ethical
along with the legal conduct.
INTRODUCTION

 The main issue linked with the present article is to
identify the role of professional ethics in accounting
profession. As per the views of Basu and Saha
(2013), complying with appropriate code of ethics is
necessary for business and through this, accounting
practices becomes fair (Basu and Saha, 2013).
 However, according to Ketz (2006), the key role of
accounting ethics is to ensure the system of
information that assists rational behavior. Overall,
necessity of maintaining trust in the integrity of
accounting profession has assisted in moral judgment
abilities (Ketz, 2006).
PROBLEM ANALYSIS

 On the other hand, it has been critically assessed
that Bonaci (2012) said ethics look at human behavior
and make an overall attempt to distinguish good
from bad. Code of ethics assist in addressing the
particularities of high risk tasks and are developed
on collective conscience of a profession (Bonaci, 2012).
 Similarly, according to Ketz (2006), IFAC code of ethics
has established standards for accounting
professional behavior and highlighted the key
principles that must be followed in order to fulfill
the common objectives (Ketz, 2006).
CONTD.