Accounting in Management: Ethical Compliance Analysis Report

This report delves into the critical role of ethical compliance in accounting and its impact on business operations. It emphasizes the significance of a formal code of conduct in fostering a positive workplace culture, ensuring employees are treated with respect and have equal opportunities. The report also discusses the importance of ethical training for employees to meet organizational standards and maintain a strong public image. Furthermore, it highlights how adhering to a code of conduct can prevent financial disasters, bribery, and harassment. The report provides practical insights into the benefits of ethical practices and the importance of implementing them effectively within an organization.

Assignment on Accounting in management
Assignment on Accounting in management
Name of the student
Roll number
Date of submission

Assignment on Accounting in management
Ethical compliance including formal code of conduct is an essential tool and method
done for the benefit of the company and the employees. A properly drafted ethical compliance
policy guides the employees to make decisions for the business without going over the wrong
side. The use of code of conduct reduces the chance of workplace lawsuit and positively impacts
the work environment.
Ans 1. Advantage of having a formal code of conduct in a company is to maintain a better
Workplace Culture. A code of conduct creates a workplace culture where all employees are
supposed to follow the same working rules and regulations. They are also liable to get treated
with equal respect (Downe, Cowell, & Morgan, 2016). All the employees have equal
advancement of opportunities creating a conflict free positive and nurturing environment.
Disadvantage is that is costly to keep it developing, implementing and maintaining within the
organization is a time-consuming task that also incurs cost. Code of conduct policies needs to be
continuously updated so that changes can be reflected in the workplace laws.
Ans 2. Employees should be given ethical training so that they can meet the organizational
standards. Ethical code of conduct not only involves right doing but also good conduct for
business. This ensures a long term success for the organization (Hijal-Moghrabi, Sabharwal &
Berman, 2017). A good code of conduct also promotes strong public image of the organization.
Customers prefer doing business with an organization that follows correct ethical conduct.
Ans3. To avoid situations like financial disasters, bribery, cheating customer, corruption and
harassment in the organization one has to apply company’s code of conduct. This prevents the
employees from going in the wrong direction that is against the policy of the organization. Thus
a code of conduct in the organization helps the employee to take correct discussion matching the
company’s code.

Assignment on Accounting in management
Reference
Downe, J., Cowell, R., & Morgan, K. (2016). What determines ethical behavior in public
organizations: Is it rules or leadership?. Public Administration Review, 76(6), 898-909.
Hijal-Moghrabi, I., Sabharwal, M., & Berman, E. M. (2017). The importance of ethical
environment to organizational performance in employment at will states. Administration
& Society, 49(9), 1346-1374.