Ethics is the study of how to behave- in order terms, the dos and don't on the professional scrivener. The study of ethics is very required as its tutorials the professional accountant to pick or come to a decision on what is wrong and right. Choosing a wrong decision can result in a poor consequences just like loss of standing, imprisonment fine e. to. c You will discover two ways to fix ethical concerns: these are Ruled-based and the Principle-based
However , ACCA recommend its members to take on the principle based structured approach in solving a company problem. The following are the five principles which ACCA needs its users to adopt First of all, Integrity, this requires members to be truthful or to not present a misleading info to users Secondly, Objectivity, professional estimations and reasoning should be depending on facts and what symbolize the best curiosity of stakeholders and wider community rather than to with the intention to the professional for personal gain, or in the interest of a person or group who can effect the specialist accountant. Third, Professional proficiency and credited care, this requires members not to perform work unless they can be competent to accomplish the work. Expertise is about maintaining to date know-how and can be attained by Continuing Professional Development (CPD). Confidentiality, Therefore information acquired when offering service to customer should not be disclosed to third party to obtain personal advantage. This also means that, information about a client can only be disclosed to third party with all the approval in the client or appropriate expert. Professional Behavior, this requires users to react well, adhere to all the rules of the occupation and not to set up a behavior that brings the name of the Company into shame.
Ethics is definitely the study showing how to behave well
Research of values is very required as its guides the specialist accountant to...