Full disclosure supports transparency and the accounting professional should disclose all information that investors, owners, creditors, and the government need to know to make informed decisions. A person of integrity is trusted by others because that person is true to his or her word, and is the benchmark against which a member must ultimately test all decisions. This person will not subordinate the public trust to personal gain and advantage; and will observe technical and ethical
The AICPA have several publication that helps with guiding the accounting profession and to enhance the member’s technical and professional abilities. One thing that the AICPA requires of their Accountants and CPAs is to continue with professional education, so that they will stay abreast of all current accounting and business issues. The AICPA is considered the foundation of ethical reasoning in accounting because each individual in the accounting profession whether they are certified or not has the obligation to be ethical with the public in business dealings and having access to financial information. All
Finally, we discuss the trend of the ratios that determine Disney’s financial health. Ethics and Compliance In accordance with ethics and compliance of the financial environment surrounding Disney, proves the commitment to conduct business dealings in accordance with elevated standards surrounding ethics and compliance in conjunction with relevant laws and regulations. In addition to the commitment of ethical behavior and compliance, the board of directors and the employees promote a certain standard of performance; not to mention the adoption of a precise code of conduct, business conduct, and ethics that is crucial to the levels of the company. Directors and employee uphold every element that revolves around commitment, integrity, and equality. The company has an obligation to uphold the interest of shareholders, make fair judgments, and have a dedication to their fundamental duties.
It would also assist organizations in achieving their objectives and assist them in being proactive. Organizational Code of Ethics The organizational code of ethics for Agency XYZ is a very formal program governed by an Executive order. There is excellent support from upper echelons as well as front line leadership at Agency XYZ for their existing Code of ethics program. The organizational code of ethics at Agency XYZ is clearly documented. To ensure that every employee can have complete trust in the integrity of the Federal Government, every employee is trained on and fully understands, respect and adheres to the principles established in the established code of ethics.
Foundation of ethical reasoning in accounting The AICPA is considered the foundation of ethical reasoning in accounting because its principles are a guide to members for how they are expected to perform their professional responsibilities. As an organization their aim is to instill in its membership according to ET Section 51- Preamble “The principles call for an unswerving commitment to honorable behavior, even at the sacrifice of personal advantage (AICPA.org 2006-2014). The principles are simple and direct. The principles of the AICPA are responsibilities to the public interest, integrity, objectivity and independence (independence applies to CPAs in public practice), due care, and scope and nature of services--revised May 15, 2000 (AICPA.org, 2006-2014). These principles are exemplary ideals for the accounting profession in the performance of their professional responsibilities.
“In 1985, Fred Fetterolf, then president, decided the company needed to document the values that all employees must live by: Integrity; Environment, Health, and Safety; Customer; Accountability; Excellence; People; and Profitability” Lawrence, A.T. & J. Weber, (2011). The ethical criterion this value base business is Principles promoting integrity through Alcoa leaders, management, employees, and all other “Alcoans regardless of level or position, is an ambassador for those values: integrity in everything we do; accountability for our actions and results; respect for the safety of our people and
These principles are strictly set in place to “represent the expectations for CPAs on the part of the public in performance of professional services” (Mintz & Morris, 2011.). After reading chapter one from Ethical Reasoning: Implications for Accounting, the three most important principles are responsibilities, public interest, and integrity. Responsibilities According to Eber (2004) This principle states that members need to exercise sensitive professional and moral judgments in all their activities, are responsible for cooperating with each other to improve the art of accounting and should maintain the public's confidence and enhance the traditions of the accounting profession (The AICPA Code of Professional Conduct, Responsibilities). Responsibilities are first out of the six principals for the AICPA Code and the third most important principle. This principal is what helps guide professional members in performance and to honor public trust.
One of the best things a psychologist can do for the profession is to understand, implement, and act with the highest ethical standards. The APA sets forth aspirational principles that push every psychologist to reach for an ultimate level of ethical service. This requires the psychologist: avoids harm, acts responsibly, performs their duties with integrity, seeks justice for all, and respect the rights and dignity of all (American Psychological Association, 2010). Special attention must be given to the word “all” especially when working with minors. In our society everyone has legal rights and is entitled to fair and ethical treatment.
Caldwell et al. (2006) noted that the duties of stewards were fraught with a complex set of ethical obligations. Many professional codes of ethics or rules are supposed to govern the ways and actions or conduct of laws given by the professionals within a professional business for you. Group of professionals generally sets these rules so that their professional peers see anyone who violations one of these rules of conducts are in violation of this rule as disapproval. The moral ethical standards of a society provide the basic guidelines for corporate ethical stewardship existence and allow us to resolve conflicts by social existence and allow us to resolve conflicts by appeal to shared principles of justification.
Build ethical conduct into corporate systems - Define your position as an ethical business. Provide employees and customers with a written pledge. Establish an Ethics Committee to constantly keep the organization focused on the seven main provisions of the Federal Sentencing Guidelines of 1991 in mind - The Federal Sentencing Guidelines that became effective on November 1, 1991