Professional Practice in Accounting

Running Head: PROFESSIONAL PRACTICE IN ACCOUNTING 1
Professional practice in accounting
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PROFESSIONAL PRACTICE IN ACCOUNTING 2
Executive Summary
CPA Australia happens to be one of the largest accounting professional bodies which
have more than 163,000 members working in more than 125 countries. It offers services such
as advocacy, networking, training, education and technical support. Members and employees
collaborate together with international and local bodies to cater to the different concerns and
views of industries, governments, the general public, regulators, and academia (Daff, De
Lange, & Jackling, 2012). The major goal of CPA Australia is to have people who their
career will be well built in professional accounting skills. The corporate plan of CPA
Australia majors in having the global world best member service and engagement, offering a
world-class CPA certification and protecting the public interest (Grüber, 2014). CPA
Australia has a very important role to play globally which involves enhancing, promoting and
representing the accountancy profession. At a national level, this professional body acts as
the voice of the national professional accountants both in business and in practice (Deegan,
2014). This is because accountants play a major role in the society (Weygandt, 2014). The
status of the accountancy profession can be strengthened only when accountants in business
and practices are vowed accordingly by the society.
Mostly, professional accountants in business happen to be well qualified and trained
in an organization (Dagwell, Wines& Lambert, 2011). They greatly depend on the
professional accounting bodies when carrying out their duties. They depend on professional
accounting bodies to provide them with resources and support to even keep their skills up to
date. For example, accountants in business may seek advice from accountings bodies on how
to handle the different ethical dilemmas (Grüber, 2014). The accounting bodies must also
provide professional development inform of training to keep their skill updated.

PROFESSIONAL PRACTICE IN ACCOUNTING 3
Introduction
In this study, I interviewed various accountants working in a different field such as
tax agents, auditors, financial analyst, and students. The functions performed by accountants
working in the business filled are always forgotten (Ameen, Jackson, & Malgwi, 2010).
Besides these role accountants have other roles they play in businesses such as in non- sector,
regulatory bodies, public sectors and in academics. Accountants can play the different role
based on where they are stationed. However, one common thing about them is the knowledge
of accounting they have. Accountants are mandated to safeguard the integrity of financial
reporting. Accountants working in taxation, auditing and business must ensure progress and
stability in the society. However if the public does not understand the role of the accountants,
the public perception concerning their value may be miss informed (Marsden & Wolters
Kluer, 2017).
From the interview, I carried out I sought to know how CPA Australia ensures that
codes and ethics are respected by all their members (Deegan, 2014). I also sought to know the
different issues that arise in the said professional body and how it polices its codes (Dagwell
et al, 2011). This was to assist me in understanding my career better and to ensure that I act
professionally and ethically. This study was conducted to 228 accounting professionals who
are members of CPA Australia.
After gaining a degree, many people opt to become public accountants at the
beginning of their career. The choice of having to be employed or not depends on the salary
values that every person expects. Very few accountants opt to work in non-profit making
originations (Marsden & Wolters Kluer, 2017). Many opt to work in CPA companies because

PROFESSIONAL PRACTICE IN ACCOUNTING 4
they usually give them a chance to grow their careers by giving them important experience.
However many other accountants venture in the private sector which is normally lucrative.
Accounting career tends to have very many paths, and that's why every person need to know
the path he wants to take. One can start the accounting career by being a bookkeeper.
Bookkeepers are people who keep records such as invoices, revenues, and payments (Lange,
2015). Another area people can consider venturing into is becoming general accountants.
Similarities and differences between the professional body and the individual working
in a profession
Accountants get to be confronted by moral dilemmas in their line of duty. From the
interview carried out, I noted a number of tensions, pressure and ethical conflicts accountants
face when they are working (Daff et al, 2012). An ethical capability is a difference between
the desirable and the actual professional behaviors which determine ethical behaviors for
members of CPA Australia. Some of the major issues that professional face in the line of
their duty includes bribery, favoritism, misleading reports, fraud, misuse of funds and breach
of confidentiality. On the other hand accountants face a considerable amount of pressure
from clients more than pressure experienced in different employing organization (Dagwell et
al, 2011). However, accountants try to solve these issues through exercising moral courage,
documenting the issues, seeking advice from peers, and exercising professional judgment
(Cooper, 2010). However accountants usually show a lot of confidence in their professional
accountancy organizations, this is because their major role is providing ethical guidance
which is very important than the role of regulators and governments (Marsden & Wolters
Kluer, 2017). Therefore for CPA Australia to promote to promote ethical capability it needs
to consider strengthening advice services, having an ethical culture within the profession and
promoting education and training (Cooper, 2010). The great fear of many accountants