BecomingWhoYouWantToBe

Accounting ethics is part of applied ethics, which is the study of moral values and judgments as they apply to the field. It is an example of professional ethics. Luca Pacioli first introduced accounting. Accounting courses at higher education institutions and companies training accountants and auditors cover ethics as part of their curriculum or modules.

A high standard of ethics is necessitated by the nature of the work involved in what accountants and auditors. Financial statements are depended upon by shareholders, potential shareholders, and other users who are concerned with the company.

They naturally rely on the opinion of the accountants who prepared the statements, as well as the auditors that verified it, to present a true and fair view of the company.

A general knowledge of ethics can help accountants and auditors to overcome ethical dilemmas, allowing for the right choice that, although it may not benefit the company, will benefit the public who relies on the accountant or auditor’s reporting. This in turn will also benefit the profession and those engaged in it by improving their consumer trust rating.

Because there is a range of accounting services and recent corporate collapses, much attention has been given to ethical standards accepted within the accounting profession. These collapses have resulted in a widespread disregard for the reputation of the accounting profession.

To put a halt to criticism and fraudulent practices in accounting, the field has favored regulations and remedies for improved ethics among those in the profession.