Would it ever be beneficial for an accountant to include ethical standards in a contract? Explain.
It would always be beneficial for an accountant to write ethical standards in a contract. The reason is that it tells the client that the accountant intends to follow ethical standards. If the contract is inked by the client it means that the client agrees to the accountant complying with the ethical standards specified in the contract. This has two effects; the client may not make unethical requests to the accountant. Second, the accountant has the right to turn down an unethical request. The accountant includes ethical standards in the contract to convey that he will adhere to those ethical standards during the course of his work. If the client does not agree to those ethical standards she may not sign the contract and so misunderstanding is avoided at an early stage.
During several accounting scandals, the involvement of the accountant was discovered. This has sullied the reputation of accountants. There can be unethical ...
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