As an auditor one is required to remain objective, an auditor should at all times remain independent in fact and appearance. They should take special precautions to assure there is no conflict of interest. An auditor is required to make an unbiased opinion on the financial stability of an organization (Schumerhorn, 2012). It is customary to charge a fee for auditing services, this is how auditing firms produce revenue to support their business and employees. However if this fee comes from the agency in which is being audited this firm is subject to scrutiny in regards to the audit.
For B, accounting standard is not correct. For C, it is impossible to ignore public comments. For D, it is not independent of SEC, yet keep close relations with other department. 2-22: C. ASB does not belong to public audit company because it does not belong to government. However, PCAOB is established by the government and all of content of law is regulated by the government in order to standardize the
It must include the fundamental terms of the agreement with the intention that no further negotiations are to take place. An invitation to treat is different to an offer as it only invites the party to make an offer and it is not intended to be binding. ix) In contract law consideration is required as an inducement to enter into a contract that is enforceable in the courts. It is an essential element for the formation of a contract. What constitutes sufficient consideration, however, has been the subject of continuing legal debate.
ACA ethical codes on competence on the other hand do not take these spiritual qualifications into account. Similarities One major similarity is that both ethical codes share the goal of ensuring that excellent and professional counseling services are provided. In both cases, the ethical codes also aim at shaping the identity of the counselors and building their work based on the set standards. Under the ethical codes on competence, one other similarity that clearly comes out is that; both ethical codes require a counselor to continue with their education and training even after gaining the basic qualifications. In both cases also, the ethical codes prohibit harming of the client in any way.
Incorrect answers will be marked as zero. Marks will not be awarded for explanations. Note: 2 marks each a. Which of the following is a requirement individual internal auditors must meet to comply with the standard on professional proficiency? 1) 2) 3) 4) Communicate the engagement results Exercise due professional care in performing their audit Manage the internal audit activity to ensure it adds value to the organization Conform to International Standards for the Professional Practice of Internal Auditing b.
In this regard, the organization must not only identify the values essential to the organization, it must also develop a process that evaluates members’ conduct and creates a reward and penalty system that reflects the presence or absence of these values. • Reinforce the message- Promotional campaigns and glossy launches don’t change behavior in an organization to any
ETH/316 April 30, 2015 Leslie Freeman Critical Thinking and Ethics Critical thinking is an individual’s purposeful reflective judgement about what to believe or what to do in response to their observations and ethics is the rule of conduct recognized in respect to a particular group. It’s the basis of any decisions that we make on a day to day basis. The connection between critical thinking and ethics is that they both relate in observing and judging things. There are no general hard and fast rules regarding the application of ethics in various situations, which is especially pertinent considering the fact that what may be ethical in one situation may be considered unethical in another. In class some students stated they wouldn’t report a thief if he was stealing food, while others believed theft is wrong regardless of the circumstances.
We must determine what is really right and really wrong. Right even transcends the violation of regulations. You must oppose what is wrong and support what is right even if it costs you your life or your career.” In other words, integrity is more than it's dictionary definition. Honesty, reliability, impartiality, sincerity, and above all- trustworthiness; that is what it means to have integrity. It's maintaining ethical behavior in all circumstances, regardless of the consequences.
Conclusion When articulating an ethical obligation one must be effective with their words in order to express their position. Obligation based perspectives are based on a sense of duty to what is right, whether that be personal or professional situation the outcome will be the same. The criminal justice community is very much driven by ethics and laws. One must be willing to put forth the effort to fulfill these
For the sake of time and space, the definition of two interpreting educators is referenced. “… ethics (we will define as) behavioral standards – a set of principles that defines what is judged appropriate or inappropriate, right or wrong” (Alcorn & Humphrey, 2007, p.301). Because this particular situation is not specifically mentioned in the interpreting Code of Ethics, it is necessary for the interpreter to use their own personal morals and ethical judgment in order to decide which course of action or inaction to take. In order to make this decision, critical thinking is needed. A variety of viewpoints need to be considered, and there are steps to consider.