07-12-2012, 02:35 PM
Professional Ethics
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What are Ethics?
Ethics can be defined broadly as
a set of moral principles or values.
Each of us has such a set of values.
We may or may not have
considered them explicitly.
Why People Act Unethically
The person’s ethical standards are different
from those of society as a whole.
The person chooses to act selfishly.
In many instances, both reasons exist.
A Person’s Ethical StandardsDiffer from General Society
Most people who commit such acts feel no
remorse when they are apprehended because
their ethical standards differ from those of
society as a whole.
A Person Chooses toAct Selfishly – Example
Person A finds a briefcase containing
important papers and $1,000.
He tosses the briefcase and keeps the money.
This action probably differs from most of society.
Ethical Dilemmas
An ethical dilemma is a situation a
person faces in which a decision must
be made about appropriate behavior.
Ethical Dilemma
A staff person has been informed that
he will work hours without recording
them as hours worked.
Firm policy prohibits this practice.
Another staff person has stated that
this is common practice in the firm.
Other Ethical Dilemmas
A supervisor asks you to initial certain audit procedures as performed when they were not.
You conclude that you cannot be promoted to manager unless you persuade assistants to work hours that they do not record.
Management informs you, now a partner, that either the company gets an unqualified opinion for a $40,000 audit fee or the company will change auditors.
Special Need for Ethical Conduct in Professions
Our society has attached a special
meaning to the term professional.
A professional is expected to conduct
himself or herself at a higher level
than most other members of society.
Rules of Conduct:Independence
A member in public practice shall be
independent in the performance of
professional services as required by
standards promulgated by bodies
designated by Council.