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Are ethics important to the accounting profession? Explain.

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Are ethics important to the accounting profession? Explain your response. How does the profession demonstrate its committment (or non-committment) to ethical behavior in your opinion?

Your tutorial is 370 words and two references and explains why financial experts must have ethical practices and how the financial industry shows it commitment to ethical practices.

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Your tutorial is 370 words and two references and explains why financial experts must have ethical practices and how the financial industry shows it commitment to ethical practices.

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Are ethics important to the accounting profession? Explain your response.

Yes, ethics are important to the accounting profession. One of the main assets of the financial profession is trust. Firms must trust that the financial expert will keep their matters confidential, will warn them against upcoming risks, and will let them know when the problems are outside of their area of expertise. If a client or firm cannot be assured of this, they will lose confidence and the relationship is at risk.

Ethics are also important to show that the financial expert will not use the client's information for personal gain. Market participants and clients need to ...

Solution provided by:
Carol Sargent, PhD
Education
  • BSc, University of Virginia
  • MSc, University of Virginia
  • PhD, Georgia State University
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