Professional Ethics

Running head: PROFESSIONAL ETHICS
Professional ethics
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1PROFESSIONAL ETHICS
Table of Contents
Reason why the accounting profession has code of conduct...........................................................2
Purpose of code of conduct..............................................................................................................2
Responsibilities for each of following.............................................................................................3
Reference.........................................................................................................................................6

2PROFESSIONAL ETHICS
Pronouncements are issued by division of the Professional ethics for providing guidelines
regarding scope as well as application of rules of conduct. Professional ethics are the principles
used for governing behavior of a professional in the business environment. Further, the
professional ethics deliver rules regarding how any person shall act towards other people and the
institutions (Bromley & Orchard, 2016).
Reason why the accounting profession has code of conduct
Code of professional conduct is adopted by AICPA for providing rules and guidance to
all the members in performing their professional responsibilities. The code includes rules and
principles as well as the interpretations and other associated guidelines and it provides the
framework in context of the rules those govern the performance of professional responsibilities.
Further, the AICPA requires bylaws that members shall adhere to rules of code (Jefrey, 2018).
However, the compliance with rules is primarily dependent on understanding of the members
and voluntary actions and secondarily in case of reinforcement by the peers and the public
opinion and in case of disciplinary proceedings whenever required against any member who
failed complying with rules. Members shall be prepared to provide justification regarding the
justification from the rules (Jefrey, 2018).
Purpose of code of conduct
Main purpose of code of conduct is assuring that the members serve interests of their
clients with high degree of technical competency, diligence and integrity. Various components
of code of conduct are as follows –