Student’s Name Professor’s Name Course Date Common Ethical Principles in Accounting Despite the milestone developments that the accounting profession that achieved a little more still needs to be done concerning the ethical practices in the profession. Globalization assisted by the use of technology has ensured revolutionized profession where the public has been made aware of what is expected of an accountant. The accounting profession today is faced with myriads of cases of unethical behavior which if not addressed may ruin the image of the profession. These issues range from bribery creative accounting and conflict of interest. For these reasons several steps have been taken by the professional bodies which regulate conducts of the accounting professionals. This is evident in the many accounting professional practices that have been put forward to be followed by accountants. Examples of such standards include rules as to should be able to demonstrate the ability to use the money only for the purpose intended (Fors et al 30-37) In conclusion several principles such as the rules to the custody of client's assets fees and remuneration marketing professional services standout. The principles provide the guideline for the accountants in the professional body to help avoid conflicts that result from lack of accounting ethics. Work Cited Christensen Hans B. Valeri V. Nikolaev and R. E. G. I. N. A. WITTENBERG‐MOERMAN. "Accounting information in financial contracting: The incomplete contract theory perspective." Journal of accounting research 54.2 (2016): 397-435. Fors Göran. "Cost model evolution of custody." Journal of Securities Operations & Custody 9.1 (2017): 30-37. Spamann Holger. "Monetary Liability for Breach of the Duty of Care?" Journal of Legal Analysis Verschoor Curtis C. "Ethical behavior for management accountants." Strategic Finance 97.7 (2016): 21-24. 8.2 (2016): 337-373. [...]
In this course you are required to write an "Ethics Paper". This can be on any topic of your choice related to ethics in accounting... for example a current case of accounting fraud reported in the news, or a famous case in the past. In your paper you could suggest how the crime could have been detected or prevented using the proper controls. You could also write about accounting ethics in general (common ethical principles in accounting) or how to communicate and encourage ethical behavior within a company. Whatever you choose, the paper should be at least 3 pages long (font size 12, double-spaced) and have at least 3 references.