OVERVIEW OF CODE OF ETHICS FOR ACCOUNTING PROFESSIONALS

Accountants come face-to-face with several ethical issues on a daily basis. Deciding whether a company’s business practices, and the actions of the principals or directors are ethical can be difficult, but holding ethical standards is a fundamental part of the accounting profession. Business, accounting, and banking personnel often find it hard to recognize serious ethical issues in accounting. It is not that they are unethical people, but frequently they are simply aware that an ethical problem is presenting itself.      

Accounting professionals hold an important role in organizations and in customer’s lives. Accountants play a key part in keeping the integrity and credibility of their clients. Accountants must be not only competent at their job like every other worker, but they must also hold the knowledge and

experience to keep their professionalism, even at the most difficult times.

Keeping clients’ integrity means that accounting professionals have to communicate deeply to avoid all problems, and make sure that everyone knows what is going on with their own finances. Sometimes people forget that confidentiality is the strength of any professional accountant, and it can be hard. Clients’ information must be kept completely confidential unless the other party has a legal right to view it.

It is important to note that accounting and finance provides fair and accurate reporting of the financial position of an organization. There are six major ethical issues that occur in accounting and finance, these are reporting false income, falsifying documents, allowing or taking questionable deductions, illegally