1.03 Key Principles for Ethics in Accounting Review

Slides:

Advertisements

Similar presentations

Conflict of Interest State Ethics Commission. Conflict of Interest Person A has role X regarding issues Q Person A has role X regarding issues Q X requires.

Advertisements

The ethical, professional and organisational framework.

Code of Ethics for Professional Accountants

ASME Code of Ethics1 Engineering Ethics Discussion not Lecture Ethics not Morals No person is perfect.

Accounting 1.01 VoCats Review PowerPoint.

ACCOUNTING ETHICS Lect. Victor-Octavian Müller, Ph.D.

9.401 Auditing Chapter 3 Professional Ethics. Why do auditors need codes of ethics?  To maintain respect and confidence of public  to distinguish the.

PROJECT MANAGEMENT ETHICS

Ethics and Professionalism “The Integrity of the Upright Shall Guide Them” (Proverbs 11:3)

BCEN 3510, Business Communication

Chapter 29 Ethics in Accounting

Professional Ethics. McGraw-Hill/Irwin © 2004 The McGraw-Hill Companies, Inc., All Rights Reserved. 3-2 Steps in Resolving an Ethical Dilemma Identify.

Professional Ethics “Ethics are statements of moral principles and values that guide the action of auditors”. The independence, powers and responsibilities.

Code of Ethics – Discussion Question

Integrity, Objectivity and Independence: Core Elements of the AICPA Code of Professional Ethics Jane Zhang, Assistant Professor and Debra M. Grace, Professor.

Business, Accounting and Personal Ethics. Sources Used Trevino, Linda, Gary Weaver, David Gibson, and Barbara Ley Toffler, “Managing Ethics and Legal.

GENERALLY ACCEPTED AUDITING STANDARDS Profesor Juan M. García Merced.

Adapted from PRSSA and PRSA (Some of these are directly from PRSA, some of these I summed up) Ethics.

PROFESSIONAL ETHICS CHAPTER 3. ETHICS A SYSTEM OR CODE OF CONDUCT BASED ON UNIVERSAL MORAL DUTIES AND OBLIGATIONS WHICH INDICATE HOW ONE SHOULD BEHAVE.

C. P. Mansoor S. Ahmed M. Com, PGDBA.  Not confined to Independent Audit  Systematic Examination of  Records  Procedures  Systems  Operations.

Home. Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.Glencoe Accounting The accounting profession requires its members to follow a.

Unit 2- Ethical Theories and Obligations

1 Information Technology (IT) Auditing & Control Instructor: Dr. Princely Ifinedo Cape Breton University (CBU)

Introduction to Engineering Ethics School of Engineering Design, Technology and Professional Programs.

Objective 1.03 Understanding Ethics Needed For Employment In Accounting 1 Objective 1.03 Understanding Ethics.

Objective 1.03 Understanding Ethics and Skills Needed For Employment In Accounting 1 Objective 1.03 Understanding Ethics.

Comparing the Codes of Ethics and Conduct in: Law Nursing Accounting Teaching Lea McWhae Helen Platell Sandra Rincon Jordan Smith.

A.S. FlemingFall 2009 Acct 431 – Cost Management "Ethics in its broader sense, deals with human conduct in relation to what is morally good and bad, right.

Ethics of Accounting and Finance

Walk The Talk Workshop Second young Eurosai :Israeli Presenters Mira Aboras-Tali Ronit Zandberg : Polish Presenters Agnieszka Morawska Hurbert.

IS/IT Ethics Jenny Cauble Scotty Sykes Ashley Cox.

Developing Ethical Systems Barbara W. Scofield, PhD, CPA For Institute of Internal Auditors November 3,

By Anwar Kashif Mumtaz ETHICS OF TAX PROFESSION & PRACTICE & APPLICABILITY OF LAW.

1 Verification Overview What is Verification?  Independent, third-party review of reported emissions Why is it Important?  Ensures that an inventory.

Module #5: Financial Ethics. What is ethics? O A system of moral principles. O Rules of conduct recognized in respect to a particular class of human actions.

F8: Audit and Assurance. 2 Designed to give you knowledge and application of: Section A: Audit Framework and Regulation Section B: Internal audit Section.

Objective 1.03 Understanding Ethics Needed For Employment In Accounting 1 Objective 1.03 Understanding Ethics.

Dr. Rob Hasker Dr. Brad Dennis. Sony’s Virus  2005: Sony wanted to reduce piracy  They put an XCP program on 20 CDs including Van Zant, The Bad Plus,

ETHICAL ISSUES IN HEALTH AND NURSING PRACTICE CODE OF ETHICS, STANDARDS OF CONDUCT, PERFORMANCE AND ETHICS FOR NURSES AND MIDWIVES.

The accounting profession requires its members to follow a code of ethics.

Auditing & Investigations I

Professional Engineering Practice

Emerging Ethical Issues facing the profession

City Auditor Carlos L. Holt, CPA, CFF, CFE. CIA, CGAP

CONCEPT,OBJECTIVES, PRINCIPLES AND CLASSIFICATION

Fundamentals of Ethics

ACCOUNTING - PRESENT AND PAST

Chapter10 Professional ethics

Professional Ethics.

OF TAX PROFESSION & PRACTICE & APPLICABILITY OF LAW

Accounting I Objective 1.03 Understanding Ethics Needed

Business Ethics

Business Ethics

Business Ethics

Business Ethics

EC7095 Financial Statement Analysis

Welcome Back Glencoe Accounting.

Ethical questions on the use of big data in official statistics

Codes of Conduct Usefulness

Solicitors Qualifying Examination: why and what

Why Ethics? Ethics reinforce the importance of the role of all the members of the estate planning team as intermediaries and protectors, who look out for.

1.03 Understanding Ethics ACCOUNTING I

Discussion of Values and Personal Codes of Conduct

ACCOUNTING ETHICS Conf.univ.dr. Victor-Octavian Müller.

ACCOUNTING ETHICS Conf.univ.dr. Victor-Octavian Müller.

ACCOUNTING ETHICS Conf.univ.dr. Victor-Octavian Müller.

ACCOUNTING ETHICS Conf.univ.dr. Victor-Octavian Müller.

ACCOUNTING ETHICS Lect. Victor-Octavian Müller, Ph.D.

Professional Responsibility and Ethics

Code of Conduct A code of conduct is a set of rules outlining the responsibilities of, or proper practices for, an individual, party or organisation. A.

Presentation transcript:

1.03 Key Principles for Ethics in Accounting Review Guess the right principle

Key Principles for Ethics in Accounting Integrity Objectivity Independence Competence Confidentiality

Accountants must choose between right and wrong Integrity

Accountants must be impartial, honest and free of personal conflict Objectivity

Accountants should be knowledgeable in their profession. Competence

Accountants are responsible for entering correct entries. Integrity

Accountants must not share private information regarding their clients. Confidentiality

Accountants do not have an interest or profit financially from the companies they audit. Independence

Accountants must not be influenced by personal interests. Objectivity

Accountants are expected to protect personal and private information regarding their clients. Confidentiality

Accountants must have the skills necessary to perform their jobs. Competence

Accountants are responsible for true and correct financial statements. Integrity

Accountants must have experience in their field. Competence

This is necessary for accountants to build trust in regards to their professional judgments Integrity

An accountant should not use information learned for personal gain. Confidentiality

Accountants must have the public’s confidence in their professional services. Independence

Accountants should behave in a way that does not suggest inappropriateness. Objectivity



Objective 1.03 Understanding Ethics Integrity Accountants must choose between right and wrong. Accountants are responsible for entering correct entries. Accountants are responsible for true and correct financial statements. Integrity is necessary for accountants to build trust in regards to their professional judgments. Objective 1.03 Understanding Ethics

Objective 1.03 Understanding Ethics Objectivity Accountants must be: Impartial Honest Free of personal conflicts Accountants must not be influenced by personal interests. Accountants should behave in a way that does not suggest inappropriateness. Objective 1.03 Understanding Ethics

Objective 1.03 Understanding Ethics Independence Accountants do not have an interest or profit financially from the companies they audit. Accountants must have the public’s confidence in their professional services. Objective 1.03 Understanding Ethics

Objective 1.03 Understanding Ethics Competence Accountants should be knowledgeable in their profession. Accountants must have the skills necessary to perform their jobs. Accountants must have experience in their field. Accountants are expected to keep abreast of current laws by continuing education classes. Objective 1.03 Understanding Ethics

Objective 1.03 Understanding Ethics Confidentiality Accountants must not share private information regarding their clients. Accountants are expected to protect personal and private information regarding their clients. An accountant should not use information learned for personal gain. Objective 1.03 Understanding Ethics