What are some of the specific ethical issues facing accountants?© BrainMass Inc. brainmass.com March 4, 2021, 5:57 pm ad1c9bdddf
An ethical conflict exists when the duties toward one group are inconsistent with responsibilities to another. He frequently receives substantial client fees for both auditing and non auditing services. Yet, he is expected to provide an impartial endorsement of financial statements. Should an accountant elect to publicize a discovered impropriety, he runs the risk of violating confidentiality, facing litigation, and damaging clients' trust. ...
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"Alternatively, if he withholds general release of this information his actions can be considered legally negligent. He also has to fear the resultant loss of reputation from being overly lenient."