Ethics in the Accounting Profession
Ethics in the Accounting Profession With in the accounting profession exists a regulatory document established in 1917 to guide the activities and practices of members of its organization. ... By 1962, the name was revised to the “Code of Professional Ethics”. The continuing trend toward re-evaluation of the rules governing acceptable accounting practices culminated in 1987 when several noteworthy revisions were made. ... In addition, a centralized trial board was established, further insuring uniformity in the prosecution of errant accounting professionals. ... Though membership in the Association of Independent Accounting Professionals is voluntary, nearly 75% of eligible professionals in the United States belong to the organization. Membership brings an implied ethics to the public; an affirmation to potential customers that a firm or individual will conduct their business with integrity. The self regulation the association brings can affect the overall public opinion of the accounting professional. ... This is also attributable to the call for stricter control from within the accounting profession. ... Ideally, the ethics of the two intertwine and overlap without conflict.