Character trait that I have chosen is confidentiality, which isn't a character trait at all, but a behavior. This is accounting -- we need to categorize things properly. Confidentiality is important in the accounting profession, and therefore it is something that an accountant must take seriously. The accountant has a duty to act in the client's benefit, and part of that means being able to maintain confidentiality with respect to any of the dealings that the accountant has with the client (Nordmeyer, 2015). There are a few different areas where confidentiality comes into play, in particular with respect to unauthorized disclosure of information, and inappropriate use of financial information. In essence, the accountant needs to maintain client confidentiality, except in situations where to do so would be unethical (i.e. whistleblower situations). Confidentiality is not even just about the person, but about the team, about the systems, and the different protocols and protections that exist to ensure that the client's privacy is upheld. The actions of the accountant should in no...
Confidential information is any information that is obtained from the client but is not available to the public, which makes is clear what sort of information falls under the category of confidentiality. There should be training to ensure that every member of a given team is aware of the confidentiality rules and practices, as well. But in general, AICPA simply mandates that all confidential information, as defined, cannot be disclosed without consent of the client, except in whistleblower-type situations.
.....ethical for an employer to use social media information as a factor when considering whether to hire an employee? What about monitoring social networking activities of employees while on the job? Use ethical reasoning in answering these questions. The wide-ranging use of social media in the workplace gives rise to serious moral and ethical concerns. Kantian ethics lays emphasis on the form of an action in ascertaining its morality. Kant insists
" (Duska and Duska, 2003) Duska and Duska state that the accountant has three obligations: 1) to be competent and know about the art and science of accounting; 2) to look out for the best interests of the client; avoiding the temptation to take advantage of the client; and 3) to serve the public interest. (2003) These responsibilities are clearly stated in the AICPA code of ethics, which states: Competence is derived from a synthesis
Zhang was employed as a qualified accountant in a small accounting practice. Following an investigation, the disciplinary committee of the professional body to which Sam belonged found that he provided misleading sets of financial statements at the request of clients on several occasions, in return for substantial payments. This was done without the knowledge of his employer. Trust is an important part of the accounting profession. Accountants have an ethical
Olympus Scandal The Olympus corporate governance and accounting scandal is and should be considered one of the largest business scandals in the history of business and the modern world. It is right up there with Enron (and in some ways worse) than the exploits and travails of Enron and Bernie Madoff. This report will look at the Olympus scandal through the prisms of utility, egoism and what precisely could or should
Ethical Violations - South African Audit ScandalIntroductionBrowning, Levin, & Wolod is interested in expanding accounting and auditing services to Luxembourg, Malta, Monaco, and south Africa. The introduction of international operations into the organization creates new opportunities that can be leveraged by the organization to generate revenue and new risks that can be mitigated by training the recruits accordingly (Minh Duc et al., 2019). The KPMG case is recognized internationally for
Forensic accounting is a special subsection of accounting that goes beyond the typical job description of an accountant. Forensic accountants use their work in courtroom and other legal settings to help. Their primary roles are litigation support and investigative accounting (Zysman, 2012). To do this, forensic accountants combine accounting, auditing, and investigative skills. However, conducting investigations is only one component of a forensic accountant's job description; they also have to
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