Accounting Ethics Accounting practice should provide relevant, timely, consisten
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Accounting practice should provide relevant, timely, consistent, and accurate information for user decision making. Internal and external users of accounting information rely on financial reports to determine short and long-term investment decisions geared toward increasing financial stability. The country depends on investors to regulate and sustain the inflow of cash through investing in the capital markets. However, reports of companies and individuals defrauding investors is a continuous problem. Accounting regulatory bodies, the government, and academicians seek to understand the value of ethics and the disconnect that could lead to company management and accounting professionals acting in an unethical manner.
Professional accountants are regularly confronted with ethical choices and moral dilemmas in the course of their professional activities. Accountants are confronted with: misleading reporting, fraud/tax evasion, lack of transparency in accounting decisions, breach of confidentiality, misrepresentation of expertise/cheating, overcharge of fees to client/over servicing, bribery, favoritism or bias, cover-up of accounting errors, misuse of funds, and insider training.
Use the internet to identify a case/report relating to unethical practices that involved accountants. Provide a brief summary of the case, which includes identifying the persons involved, what did they do, the role they played in committing the act, how were they caught, and what was the end result.
Design an ethics training program that can enhance accountants capabilities in dealing with ethical issues. Help accountants maintain ethical standards
Minimum 350 words
Introduction: provide a brief summary of what you are discussing
Body: information about the fraud case and the ethics training
Conclusion: share closing thoughts, what did you learn and the importance of the information