More handpicked essays just for you.
Importance of an auditor's independence
Understanding the concept of auditor independence and why it is important
Importance of an auditor's independence
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Utilizing Ethical Theories
There are common ethical dilemmas facing auditors today. The rules of conduct in Generally Accepted Auditing Standards (GAAS) and their application to the auditing process are paramount to auditors because it shows that an independent auditor plans, conducts, and reports the results of an audit in accordance with generally accepted auditing standards. Auditing standards provide a measure of audit quality and the objectives to be achieved in an audit. Auditing procedures differ from auditing standards. Auditing procedures are acts that the auditor performs during the course of an audit to comply with auditing standards.
How to Establish a Frame Work using Ethical Theories to Support an Audit.
An auditor could establish
…show more content…
The key principles of the AICPA’s Rule of Conduct expresses the profession 's recognition of its responsibilities to the public, to clients, and to colleagues. They guide members in the performance of their professional responsibilities and express the basic tenets of ethical and professional conduct. The Principles call for an unswerving commitment to honorable behavior, even at the sacrifice of personal advantage.
Article I – Responsibilities. In carrying out their responsibilities as professionals, members should exercise sensitive professional and moral judgments in all their activities.
Article II - The Public Interest. Members should accept the obligation to act in a way that will serve the public interest, honor the public trust, and demonstrate commitment to professionalism.
Article III – Integrity. To maintain and broaden public confidence, members should perform all professional responsibilities with the highest sense of
…show more content…
the IESBA Code is divided into three parts: Part A applies to all professional accountants; Part B, only to persons in public accounting; and Part C, to persons in business, in other words, everyone who is not in public practice. The AICPA does not apportion its principles and rules in this manner. Other differences are more substantive. As for similarities, both codes address areas such as independence, due care, confidentiality and the truthful reporting of information. The principles underlying each code are also similar except that the IESBA addresses confidentiality and marketing as principles (the latter under professional behavior), applicable to all professionals, whereas the AICPA Code includes these as rules applicable to members in public practice. The IESBA ethics requirements for professional accountants in business, such as corporate accountants, are much like those found in the AICPA Code although certain IESBA guidance is more comprehensive (for example, inducements, acting with sufficient
Which of the principles of AICPA Code of Conduct is most related section 5062.2 of the California Accountancy Act? Explain your conclusion.
Establish a framework for professional behavior and responsibilities when professional obligations conflict or ethical uncertainties arise.
3. The men and women who are appointed into these positions uphold the U.S. Constitution to the highest degree and there is no greater honor in their field of
Identify a core principle from the NMC Code of Conduct (2008) and demonstrate how this may affect professional practice
This organization has been setting ethical standards and publishing the Code of Professional Conduct for the profession since the early 1900s. A Code of Professional Conduct is necessary for any profession to help maintain strict ethical standards. This organization is the basis of ethical reasoning in the accounting profession because of what the Code of Professional Conduct covers. The code is comprised of a preamble and six articles. The preamble and the six articles serve as a foundation to provide guidance and guidelines for accountants to overcome any emerging ethical issues with ease on a daily basis. The six articles’ purpose is to protect the public, investors, and creditors. The AICPA Code of Professional Conduct consists of: Responsibility, Public Interest, Integrity, Objectivity and Independence, Due Care, and Scope and Nature of
In the essay “The Rules about the Rules,” Carter sets forth his views on integrity. Throughout this essay, he explains to readers the three rules of integrity. The first step is the difficult process of discerning one’s deepest understanding of right and wrong. The second step is knowing what one believes. This means one knows and understands what is right from wrong and puts what is right into effect. Last but not least, the third and most important step is the person must be willing to say that he or she is acting upon what he or she has decided what is right. Carter believes integrity is a moral virtue that should be consistently acted upon throughout readers’ lives.
"Article III." LII / Legal Information Institute. Cornell University Law School, n.d. Web. 31 Mar. 2014.
Since you examined the number of moral issues you will face in this profession, look through the code of ethics that you chose for this assignment and explain
Therefore, individuals should view professional codes as a potential point of departure on where to begin in integrity based reasoning, decision making, and behavior (Williams and Arrigo,
(2016). Lesson 3: Ethical Perspectives. In Professionalism & Ethics in CJ: Spring 2016. Retrieved from
Clients want accountants with integrity. Thus, integrity is critical to the public trust. As a matter of fact, one of the general definitions of integrity provided by the AICPA Code is that it is a quality from which the public trust derives. Also, it is an element of character fundamental to professional recognition, and it requires members to be (among other things) honest and candid within the constraints of confidentiality (Duska, Duska & Ragatz, 2011).
Members not only agree to subscribe to the ethical codes to govern their conduct but also monitor other members of the profession to ensure conformity to them as well. Failure to conform may earn the individual a dismissal from the profession or
However for employees working in healthcare organization, conflicting situations may arise with confidentiality. Presenting a case study where HCA disclosing an employee’s confidential information, a nurse recently had to increase the work hours due to financial situation. The nurse was a bit apprehensive with the increase due to it would be stressful on top of the other responsibilities. Due to the stress, the nurse ended up using form of narcotics to help deal with stress level and anxiety, which seemed to have helped with providing care for patients. As time continued on, the nurse began to care for patients and signed out medication for them even though the patient was not prescribed the medication. The nurse was later discovered when working on the surgical unit as the pharmacist notice unfamiliar rise in medications along with signature errors. The incident was reported to the HCA for further reviewing. After analyzing the situation, actions taken were to have a leave of absences as well present this to a board of personnel. This then causes some form of breach of confidentiality for the nurse with HCA. Nevertheless, HCA was fearful of the patient’s safety and needed to address an issue that maybe more common that they think. As HCA, they are in charged with a fiduciary duty to protect the mission and values of the organization (Badzek, Mitchell, Marra,
Professionals are people who have equipped themselves with the knowledge and skills in a given field. The interest of improvement of the professional identity is an evidence of how high standards are placed upon the professionals in the community (Johnson et al., 2012). Each profession creates its norms, values and scope of practice that distinguishes it from any other profession. Different legal ethics are upheld and everyone needs to work as per the stipulated ethics in the field to be part of the profession. People in the field are expected to be knowledgeable and independently use decision making in solving various problems that may arise. The decisions made should be within the norms and values stipulated for a profession.
obligation is to protect the innocent as well as to convict the guilty, to guard