Ethics in Accounting

What are ethics Ethics is the study of our notions of right and wrong In essence ethics are our moral compass

Business Ethics Business ethics are policies and practices that reflect a companies core values Can be seen by how employees and customers are treated and how the company attends to shareholder value, community service, supplier relationships and regulatory law

Establishment of a Business Ethics Program Law as a guide Statement of company values Training and outreach Ethics committees Enforcement

Law as a guide Law attempts to formally define the general publics idea about what is right and wrong

Statement of company values Defined in a code of ethics Conflicts of interest Product quality and testing Customer and employee relations Expense reports Security Safety Technology Whistleblowing

Training and outreach Ensures the code of ethics is properly communicated and trained to ensure employees are well versed in the policy

Ethics committees Enforces standards Settles disputes of the ethical dilemma nature

Enforcement Bite behind the bark Enforcement in necessary to achieve an ethical work environment Many companies code of conduct addresses penalty

Important to the operation, management and development of business Avoid harm to the stockholder Optimize interest of the public Adhere to the universal standard of what is right Respect the human rights of all

Individuals Business Society

Individuals Business Society

Integrity Objectivity Independence Competence Confidentiality

American Institute of Certified Public Accountants Institute of Management Accountants Institute of Management Auditors