Accountants are the key personnel, they had the power to access the financial information of individuals and entities
because of that there is possibilities misuse of information or manipulation of numbers to boost perceptions of businesses or to implement earnings. To protect this accounting ethics is important.
Ethical codes are the basic standards that an accounting professional chose to obey in order to strengthen their practices, preserve public trust and demonstrate integrity and equity. People who join organizations and secure the credentials to present themselves as a professional accountant to the public, strive to protect the profession’s reputation.
Ethics and ethical conduct apply more to common values like fairness, dignity, and morality. However, the code of professional conduct is a particular collection of laws laid down by the charted accountants governing bodies. Though the rules laid down by different bodies around the world are special, certain rules are universal.
Ethics are important in many aspects of business. Accountants are expected to act ethically when they handle client’s books. They must
- Prove integrity
- Keep things confidentially
- Stay up to date with latest accounting news
- Act professionally.