Accountant’s ethics
“The miss of international federations of
accountants (IFAC) is a worldwide development and enhancement of consistently
high quality in the public interest. In pursuing this mission, IFAC board
established an ethics committee to develop and issue high quality, ethical
standards and others pronouncements for personal accountants for use around the
world. NBAA is member of IFAC hence may apply, agreed standards. “
Ethics of accounting
- Integrity
- Objectivity
- Professional Competence
- Confidentiality
- Integrity - being honest, fair, trustworthy, and free from conflict. People believe that accountants should be honest in all professional and business relationships.
- Objectivity- careful use of protracted procedures and test to arrive to a conclusion. People think that accountants shouldn’t compromise their professional or business judgement because of bias, conflict of interest.
- Professional Competence- To maintain professional knowledge and skills at the level required to ensure that clients or employee receive competent professional service. People believe accountants should have high standards of general education.
- Confidentiality – disclose outside the firm or employing organization, confidential information acquired as a result of professional and business relationship without proper and specific authority. People think professionals shouldn’t share personal information with anyone.
The ethic of the field of an accountant field is similar to mine. I believe as a person I should always have
integrity. It’s important to be honest and fair throughout life and it helps gain people trust. Gaining
people trust is important in the professional world and in your personal life.
It’s important, because it helps build friendships and give you more creditability.
I found these ethics to be very interesting! Since I am a whole different field I am so used to hearing of the same ethics, so it was good to see some different ones from a different perspective. My only question after reading this post is why people in this field need this ethics? Maybe give an example of a time as an accountant that somebody would use each one, just to be more specific to the field and not as generalized. Also, I really enjoyed the set up of this post. It was organized well and easy to read.
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