Ethics in Accounting

[Tyeattolah]

Anyone have any background information/recommended reads for Accounting Ethics? I'm doing a websearch and finding lots but hoping we might have some expertise out there! Thanks!

[beanoX3]

Try looking up stuff on Enron.

[Tyeattolah]

Thats probably a little to big for what I'm looking for...more of personal accounting type issues. But, from what I gather it doesn't really matter what level a person is involved...crooked is as crooked does! Didn't Forest say that?

[Tyeattolah]

This is closer to what I'm looking for...

The responsibilities placed on accounting professionals by the three ethics codes and the related professional standards have many similarities. All three require professional competence, confidentiality, integrity, and objectivity. Accounting professionals should only undertake tasks that they can complete with professional competence, and they must carry out their responsibilities with sufficient care and diligence, usually referred to as due professional care or due care. The codes of ethics of the AICPA, IMA, and IIA all require that confidential information known to accounting professionals not be disclosed to outsiders.

The state government issues a CPA's license to practice, usually through an organization known as the state board of accountancy. Since state laws governing the practice of accountancy typically include important parts of the AICPA Code, the Code thus gains legal enforceability. Consequently, ethical violations can result in the state's revoking a CPA's license to practice on a temporary or even permanent basis. Because a licensed CPA is also likely to belong to the AICPA and the state society of CPAs, investigations of ethics violations may be carried out jointly by the AICPA, the state society, and the state board of accountancy.

Specific responsibilities of the accounting profession are expressed in the various codes of ethics promulgated by major organizations such as the AICPA. The AICPA's first principle of professional conduct states: "In carrying out their responsibilities as professionals, members should exercise sensitive professional and moral judgments in all their activities."

A profession is formed on the basis of (1) a generally accepted body of knowledge, (2) a widely recognized standard of attainment, and (3) an enforceable code of ethics. A code of ethics is a crucial element in forming a professional. The three major accounting professional organizations have an ethics code.

[moonhead]

do your own homework.

[Tyeattolah]

not homework, just a topic of interest!

[Azrael]

There is probably all kind of stuff on the AICPA's website. You can also look up stuff on FASB (Financial Auditing Standards Board). Could also maybe check out GAAS (Generally Accepted Auditing Standards). I don't really know all the ins and outs of ethics standards since I don't work in public accounting but this should get you in the right direction. What are you looking for specifically?

[Tyeattolah]

The crux of the issue boils down to personal conduct...sharing personal information related to personal accounts and discussions that are supposed to be confidential etc. Thanks for the input, I'm just starting to look deeper to see if there are ramifications/avenues to pursue...