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  • Accounting Dilemmas and Professional Ethics

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    Bella Seah
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    This document discusses two dilemmas faced by professional accountants: objectivity and professional behavior. It notes that accountants must maintain objectivity and not allow bias, conflicts of interest, or undue influence to override their professional judgements. However, in deregulated environments where self-interest dominates, managers and accountants may have incentives to choose procedures that mislead or defraud for personal gain. This can put accountants in difficult positions between their jobs or families and maintaining ethical standards. The document examines potential solutions such as integrating ethics into business activities and decision making through codes of ethics and training.

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    ACCY 305

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    This document discusses two dilemmas faced by professional accountants: objectivity and professional behavior. It notes that accountants must maintain objectivity and not allow bias, conflicts of interest, or undue influence to override their professional judgements. However, in deregulated environments where self-interest dominates, managers and accountants may have incentives to choose procedures that mislead or defraud for personal gain. This can put accountants in difficult positions between their jobs or families and maintaining ethical standards. The document examines potential solutions such as integrating ethics into business activities and decision making through codes of ethics and training.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    60 views10 pages

    Accounting Dilemmas and Professional Ethics

    Uploaded by

    Bella Seah
    This document discusses two dilemmas faced by professional accountants: objectivity and professional behavior. It notes that accountants must maintain objectivity and not allow bias, conflicts of interest, or undue influence to override their professional judgements. However, in deregulated environments where self-interest dominates, managers and accountants may have incentives to choose procedures that mislead or defraud for personal gain. This can put accountants in difficult positions between their jobs or families and maintaining ethical standards. The document examines potential solutions such as integrating ethics into business activities and decision making through codes of ethics and training.

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    © All Rights Reserved
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    of 10

    PRESENTED BY:

    SEAH SHIN HUA


    CHYE SIEW YING
    YEO ZI HUI
    No Government Intervention

    Powerful People Remain Powerful

    Allows Economics Interest
    Dominate Ethics

    Deregulation
    Principal-Agent Theorist - all human
    behaviour is rooted in self-interest

    Managers To Choose Accounting Procedures
    And Accruals To Increase Their Present Value
    Of Their Awards

    Accountant part of the management they
    will pursue their interest as well

    Self-Interest Threat






    DILEMMA 1:
    OBJECTIVITY
    professional accountant
    should not allow bias,
    conflict of interest or
    undue influence of others
    to override their
    professional judgements
    accountants should comply
    with relevant laws and
    regulations and avoid any
    actions that may lead to
    discredits the profession
    DILEMMA 2:
    PRFESSIONAL
    BEHAVIOUR
    there is no right solution, as each of the alternatives
    is considered to produce an undesirable outcome
    -Boyce 2008,p268
    MAKEOVER NUMBERS

    FRAUDULENT

    UNABLE TO PERSUADE FINANCIALLY
    REALISTIC

    INTIMIDATION THREAT



    Produce misleading accounting
    a) Losing job
    b) Difficulties of livelihood for family
    c) Economic context
    JOB or FAMILY??
    Question of suitability
    Professional accounting standards for
    public sectors

    remodel and reform their operation
    according to market concepts of competition
    and efficiency
    - Barton 2005, p141

    Integration of ethics to the business
    and organizational activities

    CSR company vs. CSR

    Serving the Public Interest

    Codes of Ethics only guide one behavior

    Ethics Training

    Ethical Decision Making

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