Professional Ethics Professional ethics is a mandatory trait to have in any kind of career. Professional ethics is a mandatory trait to have in any kind of career. Accounting is one of the most impor

Professional Ethics Professional ethics is a mandatory trait to have in any kind of career. Professional ethics is a mandatory trait to have in any kind of career. Accounting is one of the most impor

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Professional Ethics

Professional ethics is a mandatory trait to have in any kind of career. Accounting is one of the most important professions that has traditionally been affiliated with fraudulent transactions and crooked businessmen and women. More specifically, auditing is a profession where some auditors take obtain of the electricity of their words—an auditor’s opinion involving financial statements is relied on to be accurate.

auditor’s obligation is to habits audits in accordance with auditing necessities usually traditional in the United States. Auditors also have the ethical obligation of as it be addressing any deficiencies in monetary statements, as accurate as refusing to sign off on an audit with unresolved issues. Unfortunately, some auditors fail to adhere to their moral duties and may additionally also submit inaccurate audits. Ernst & Young current audit scandal involving the audit of Weatherford International is just one example.

There are a wide variety of threats that can also additionally have brought on and/or persuaded the audit crew from Ernst & Young that used to be once involved in this case to put up mistaken audits. There are greater than one events of this audit scandal to be held accountable. To begin, two of