From the course: Accounting Ethics
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Ethics for an accountant (code of conduct)
From the course: Accounting Ethics
Ethics for an accountant (code of conduct)
- Given recent financial scandals, there's an increased demand for strong ethical behavior. It begins and ends with every accountant adhering to the profession's code of conduct. A code of conduct provides clear guidance for not intentionally undermining the public's trust. There are six areas to respect according to the International Ethics Standards Board for Accountants or IESBA. First is professional competence and due care. Clients, employers, and the public expect the accountants to maintain a high level of competence. This requires two things from you. First, is to disclose when you don't possess the skills to complete a task. For example, if I were asked to conduct an audit, I'd refuse disclosing I'm not certified to do so. And second, is to maintain professional competence by keeping current with developments and professional standards and legislation. For example, you're developing your competence right now…
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