Accounting Article Analysis :: Business Accounting Ethics

Accounting Article Analysis One of the foremost problems facing the accounting profession today is the loss of respect that faces accountants in light of recent accounting scandals. In order to regain lost respect in the accounting profession an accountant must have integrity and ethics that are above and beyond the norm. This fact is true whether the accountant works for a business entity or for a government entity. In either situation the accountant is responsible for remaining steadfast, not only in professional behavior, but in personal behavior as well. In recent years, accountants have come under fire by the general public for unethical decisions, a reputation that, although only a few individual accountants were guilty, the entire profession was found guilty of, in the court of public opinion. Now, the accounting profession must be far more diligent in governing themselves, and in assuring those dependent upon their decisions, that they are above reproach. This is especially true of those accountan ts responsible for government funds, which can be scrutinized by the public. The public seem to have set more rigorous standards than business investors, of what is proper use of the funds available. They will not tolerate waste or misappropriation of funds and demand complete accountability. Accountants must stand ready, willing, and able to answer any and all questions that may be put forth, and be able to prove that the decisions that have been made were correct and proper. This includes not only following the letter of the law, but avoiding any decisions that, while being legal, would not be totally ethical and above board. An accountant is trusted with confidential information which must remain confidential, unless it has led or could possibly lead to illegal activity, in which case, of course, the information, must be reported immediately to the proper authority.