Essay on Ethics : Ethics And Ethics

Essay on Ethics : Ethics And Ethics

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Ethics is derived from the greek word ‘ethos’, which means character and the latin word ‘moras’, which means customs. Thus ethics is defined as the personal and professional behaviour with regards to the values, customs, behaviour, principles and morals of society (Senarante, 2011). Professional ethics can be defined as the personal and corporate standards of conduct that is carried out by members of a particular profession. For example, medicine, accounting and engineering. Professional ethics or business ethics cover larger areas than the law, and although an issue may not be illegal, it can be considered as an ethical issue (ATT Ethics, 2013). Business ethics can be defined as the policies and principles that act as operational guidelines when making decisions based on what is morally right or wrong (Eginiwin & Dike, 2014). Business ethics in a broader sense relates to the ethical codes of conduct that members of a profession abide by (Mantzke, Carnes & Tolhurst, 2005). These ethical codes of conduct further acts as a framework for business professionals in the decision making process. It also informs the members of a particular association about the acceptable behaviour and how to go about the daily operations in their profession (ATT Ethics, 2013). This essay will talk about the ethical standards and code of conduct in the accounting profession, in particular for CPA Australia, the importance of ethical education for accounting students, the importance for ethical financial reporting and also addresses ways to deal with conflicts that arise from ethical issues in the profession.

Furthermore, ethics is important to the accounting profession because it informs and guides the professionals to perform their duties morally and e...


... middle of paper ...


...et out in the APES 110. The five fundamental principles are integrity, objectivity, professional competence and due care, confidentially and professional behaviour. Members are required to employ the Code’s framework to recognise threats, analyse the significance of the threats and if possible to apply safeguards to eliminate threats or reduce them to an acceptable level. Threats can be classified into categories such as self-interest, self-review, advocacy, familiarity and intimidation threats. Safeguards can also be classified into two categories such as safeguards created by the profession, legislation or regulation and safeguards in the work environment.


The APES 110 Code of Ethics for Professional Accountants also integrates ethical conflict resolution methods in order to allow members to resolve conflicts in complying with the five fundamental principles.


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Ethics : Ethics And Ethics Essay

- Ethics is derived from the Greek word ‘ethos’, which means character and the Latin word ‘moras’, which means customs. Thus ethics are defined as the personal and professional behaviour with regards to the values, customs, behaviour, principles and morals of society (Senarante, 2011). Professional ethics can be defined as the personal and corporate standards of conduct that is carried out by members of a particular profession. For example, medicine, accounting and engineering. Professional ethics or business ethics cover larger areas than the law, and although an issue may not be illegal, it can be considered as an ethical issue (ATT Ethics, 2013)....   [tags: Ethics, Business ethics, Accountant]

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