What is the role of business ethics in accounting?
Given the nature of the profession, business ethics in accounting is a problem that is taken very seriously. The emphasis on commercial ethics in accounting is largely caused by the bonuses placed on the outcome of the services carried out in their various capacities. In addition to the fact that the accountants are expected to be extremely qualified to provide the most effective service to their clients, they must also manifest high moral and ethical law to manipulate the financial resources of other nations. Another reason why business ethics in accounting is essential is the fact that individuals and organizations use their final reports and recommendations as the basis for decision -making, which can influence them in a positive or negative way.
Example of the application of business ethics in accounting can be seen in the area of DUE diligence when it comes to manipulating the client's finance. For example, a public figure that earns a spoThe Ustu Money, usually occupies the service or accounting company service depending on the size of its portfolio. If the accountant fails to perform the necessary vigilance and diligence in terms of the finances of such a client, the client's taxes do not have to properly comply, leading to accusations of missed tax payments. Problems concerning mixed tax payments are often taken seriously and can even damage the reputation of public value, even if it was not intentional by the client. Ethics in accounting therefore concerns such matters and requires a high level of determination from accountants in terms of the finances of their different clients.
Most professional careers, such as medicine, law, engineering and accounting, have a professional code of ethics that apply to all members of the profession. The reason for these ethical standards is the result of highly sensitive professions and the risk of abuse of privileges related to professions, including accounting. The general ethical rule is expected to maintain a high gradeIntegrity and objectivity in relation to the behavior of their profession. Like lawyers and doctors, they are expected to maintain their clients' confidence, which means that they cannot detect their client's matters in any way, with limited exceptions. An example of such an exception is when the court summoned records.