From the course: Accounting Ethics
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Ethical consideration and code of conduct
From the course: Accounting Ethics
Ethical consideration and code of conduct
- You probably recognize the value that a code of conduct offers, but there will be moments when you'll question a decision and the code of conduct won't offer a complete answer. Most ethical decisions are shades of gray. This ambiguity presents challenges. But if not the code of conduct, then what else can offer ethical clarity? There are five considerations. The first and what always comes before the code of conduct are legal requirements. Clearly, if the decision violates a law, then don't do it. Code of conduct be damned. For example, some former clients asked me to send them an invoice before signing a contract. What they actually want is an additional expense to reduce the taxes they'll pay on their profits. This is illegal. Also, doing something not knowing you broke the law is a problem. Ignorance of the law isn't an acceptable legal defense. If you do it, then get a good lawyer. Second is evaluating how your…
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