Professional Accountant

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  • Overview Of The IFAC Code Of Ethics For Professional Accountants

    subject to the regulations of other authoritative bodies, such as the US Securities and Exchange Commission, may wish to consult with them for their positions on these matters. Interpretation 2003-01 The Provision of Non-Assurance Services to Assurance Clients The Code of Ethics for Professional Accountants addresses the issue of the provision of non assurance services to assurance clients in paragraphs 290.158−290.205 inclusive. The Code does not currently include any transitional provisions relating to the requirements set out in these paragraphs however the Ethics Committee 5 has concluded that it is appropriate to allow a transitional period of one year, during which existing contracts to provide non assurance services for assurance clients may be completed if additional safeguards are put in place to reduce any threat to independence to an insignificant level. This transitional period commences on December 31, 2004 (or from the date of implementation of the Code for members of those IFAC member bodies which have adopted an earlier implementation date). Interpretation 2003-02 Lead Engagement Partner Rotation for Audit Clients that are Listed Entities The Code of Ethics for Professional Accountants addresses the issue of engagement partner rotation for financial statement audit clients that are listed entities in paragraphs 290.154−290.157. The paragraphs state that in the financial statement audit of a listed entity the engagement partner should be rotated after serving…

    Words: 34289 - Pages: 138
  • What Is The Obligation To Follow The Professional Conduct Of A Management Accountant?

    Question 1 a. Management Accountants have an obligation to follow the highest standards of ethical responsibility and maintain good professional image. They also should not condone the commission of unethical acts by others within their organizations. It is obvious that falsifying travelling reimbursement claim by Mustapha was unethical conduct and I, as a professional that have been entrusted by the company’s shareholders to safeguard the company’s interests and well-being, should therefore…

    Words: 732 - Pages: 3
  • AICPA Code Of Conduct Analysis

    Model of Trust and the AICPA Professional Code of Conduct According to Xie and Peng (2009), ability, benevolence and integrity are the core elements that help to build interpersonal trust within organizations. These same core elements are also essential within the accounting profession and are the cornerstone of the American Institute of Certified Public Accountants’ (AICPA) Professional Code of Conduct (the Code). The Code is the primary source of guidance for accountants. The Code is…

    Words: 1005 - Pages: 5
  • Career Analysis: Sharat Gupta

    success of a business. It is what synthesizes and reports financial data of the business to assist in making strong decisions for its future to potentially improve its financial state. To become an accountant, an individual needs to have certain attributes and interests to succeed and advance in their career. Mr. Gupta elaborates on how an extroverted personality and strong communication skills are essential. They are used every day within the office but also with clients. An individual…

    Words: 1156 - Pages: 5
  • Hrm 531 Week 2 Individual Assignment

    “I see many firms in the U.S. establishing ‘next generation councils’ and empowering them to research issues that they would like to see the firm implement”. “This is the kind of cultural activities that will keep innovation moving inside CPA firms (Web Oct 10th, 2015).” I think that with technology getting better that it will give the accounting more advantages and make things easier. It will open up way more opportunity in the future. With technology getting better all the time I see in the…

    Words: 1491 - Pages: 6
  • The Reflection Of The Importance Of Accounting

    Introduction The accounting profession is pivotal and fundamental to human livelihood. Undoubtedly, businesses provide employment and, thus, livelihood to people all over the globe. Consequently, accounting becomes an integral part of every business, and its significance cannot be underestimated. Typically, business owners make decisions upon receiving audited reports prepared by professionals conversant with accounting. Personally, I have witnessed enormous benefits of accounting both in…

    Words: 828 - Pages: 4
  • Career In Accounting

    requirements. As an accountant, one would be tasked with many office related duties and be required to use analytical skills. Accountants “perform…

    Words: 920 - Pages: 4
  • 1. Why Have You Selected Your Current Major?

    could improve upon to be more successful in accomplishing your career goals. Two skills I can improve upon would be time management and being fluent in my other languages. Time management is a key factor in being successful in any field, although I try and manage school, work, and social life; sometimes one of them suffers due to the lack of being able to manage time efficiently. Being able to meet deadlines will be crucial when being employed at a firm. Becoming fluent in my other languages…

    Words: 1905 - Pages: 8
  • Accounting Experience Essay

    problems because I liked to solve the math problems and play the number games, such as, Sudoku. In this class, I got a lot of accounting knowledge and understood more about how to make accounting statements. During this semester, I felt I had taken a big step forward in achieving my dream. However, in order to become an accountant, I had to learn other skills, instead of getting the knowledge of accounting. After the semester, I was still confused about what kind of skills I had to develop and…

    Words: 2362 - Pages: 10
  • Importance Of Accounting In Accounting

    Accountants play a valuable role in Business Laws and in order to fulfill with the moral and ethical principles, accountants should do all their work in an accurate and detailed manner. They have to prove with their work all the knowledge and experience acquired throughout their professional pathway and in turn, provide confidence to its customers by proving that they are working in a professional manner and within the established laws. The role that an accountant develops is crucial for any…

    Words: 1025 - Pages: 5
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