financial or monetary ‘‘happiness’’ to themselves alone. There is also the possibility of exploiting minority stakeholder’s interests in favor of the majority stakeholders.
The history of corporate accounting fraud could represent an application of utilitarian ethics to ethical challenges faced by business executives and, at the same time, could also serve as examples of reasons why utilitarian ethics is could not be acceptable. One of the reasons why utilitarian ethics, as an almost exclusive basis for business conduct, has withstood is because harm is usually limited to loss of material property. In the world of business, stakeholders face a loss of wealth or fortune, but normally not loss of life or health (Micewski & Troy, 2007). Rodgers …show more content…
The fundamental ethical decision-making characteristics in-built in the organizational culture of the accounting profession support the use of professional judgement, rather than personal judgement; in resolving accounting ethics dilemmas (PointCast Presentation, n.d.).
AICPA Code of Professional Conduct The AICPA code of Professional Conduct was adopted to provide guidance and rules to accountants in public practice, in industry, in government, and in education, in the performance of theirs responsibilities. The code offers the basic tenets of ethical and professional conduct for accountants, and specifies that accountants have ethical responsibilities to the public, clients, and colleagues; but more importantly to the public entitled to view the company’s financial statements (Duska et al., 2011).
In corporate governance, the Board of Directors is responsible for ethical behavior within the context of corporate social responsibility. The Board should make sure that management promotes a culture of ethical conduct:
- By creating an ethics risk profile and establishing a code of
The history of corporate accounting fraud could represent an application of utilitarian ethics to ethical challenges faced by business executives and, at the same time, could also serve as examples of reasons why utilitarian ethics is could not be acceptable. One of the reasons why utilitarian ethics, as an almost exclusive basis for business conduct, has withstood is because harm is usually limited to loss of material property. In the world of business, stakeholders face a loss of wealth or fortune, but normally not loss of life or health (Micewski & Troy, 2007). Rodgers …show more content…
The fundamental ethical decision-making characteristics in-built in the organizational culture of the accounting profession support the use of professional judgement, rather than personal judgement; in resolving accounting ethics dilemmas (PointCast Presentation, n.d.).
AICPA Code of Professional Conduct The AICPA code of Professional Conduct was adopted to provide guidance and rules to accountants in public practice, in industry, in government, and in education, in the performance of theirs responsibilities. The code offers the basic tenets of ethical and professional conduct for accountants, and specifies that accountants have ethical responsibilities to the public, clients, and colleagues; but more importantly to the public entitled to view the company’s financial statements (Duska et al., 2011).
In corporate governance, the Board of Directors is responsible for ethical behavior within the context of corporate social responsibility. The Board should make sure that management promotes a culture of ethical conduct:
- By creating an ethics risk profile and establishing a code of