The Accounting Profession and Its Obligation to Society

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THE ACCOUNTING PROFESSION AND ITS OBLIGATION TO SOCIETY Introduction “It is better to deserve honors and not have them than to have them and not to deserve them.” -Mark Twain. This famous quotation very well goes with this research library paper because there are some people who succeed not by their own effort but with their evil doings. They tried to make some people believe on the information they did but in truth, they just made it all up for their own sake. One of the duties of an accountant is being honest especially in handling the financial statements of a company so that they would produce accurate information to the people but still few are not worthy of other’s trust. This research paper contains information about the responsibilities of the accountants to the society and the companies who were famous in the business industry not because of their good reputation but because of the anomalies they committed. The researchers wanted to prove that not all accountants have the characteristic of transparency because there are some reported cases about the scandals that they did for the business. They wanted the readers, especially future accountants to benefit in this research by not doing the same mistakes did by Andersen Accounting Firm which resulted to their bankruptcy and bad reputation. Upon reading this work, readers would have a clear idea on the obligations of the accountants not only to the company they work in but to the society that they belong with. 2 Public Accounting Accountants perform their profession to the public, school, government and most of all in business. In public, most of them

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