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ACCOUNTING ETHICS: AN ETHICAL DILEMNA FOR
ACADEMIC ACCOUNTANTS

BY

ADEYEMI. O. EWETADE, DEPARTMENT OF ACCOUNTING & FINANCE, FACULTY OF SOCIAL & MANAGEMENT SCIENCES, AJAYI CROWTHER UNIVERSITY, OYO, NIGERIA.

e-mail: adeyemiewetade@yahoo.co.uk
Mobile No: 2348034116535, 2348077790799

ACCOUNTING ETHICS: AN ETHICAL DILEMNA FOR ACADEMIC ACCOUNTANT.

ABSTRACT:
There has been increasing interest in explaining the ethical dilemma facing an academic accountant in the process of teaching ethical values. Alvin M. Saperstein discovered that academics in all areas of discipline are concerned with the process of teaching rather than the subject matter being taught. This paper tries to investigate the nature and purpose of accounting and follows with a brief description of the nature and use of ethical principles in determining accountants’ responsibilities. Because accounting is governed by a code of ethics, it tries to examine the ethical imperatives that bind professionals and the specific principles and rules that various accounting codes dictate. This paper concludes with an investigation into the ethical values that must be taught in our higher institutions and the pressures that militate against the fulfilment of these responsibilities for an academic accountant.

KEYWORDS: Accounting Ethics, Ethical Values, Ethical Dilemma Accounting Education.

1.0 INTRODUCTION:,
Ethical values provide the foundation on which a civilised society exists. Without the foundation, civilization collapses. On a persona l level, everyone must answer the following question: What is my upmost inspiration? The answer that one might give might probably be wealth, fame, knowledge, popularity or integrity. However, if integrity is secondary to any of these options, it will be sacrificed in situations in which a choice must be made. Such situations will inevitably occur in every individual life. In the late 20th century, a popular movie portrayed the unscrupulous dealing s of people involved in securities dealing based on an inside information. A key character played by Michael Douglas in the play says, “Greed is good!”. One can deduce from this play that greed is an acceptable motivation and that business people will do anything to make money, including engage in unethical behaviour. The present moral behaviour that pervades the Nigeria society gave credence to this concept. In reality, greed is unacceptable, and unethical behaviour will destroy a firm’s ability to make money. Although the goal of any business enterprise should be to increase its owners’ wealth, to do so requires the customers’ and other stakeholders’ interest. In the long run, that trust relies on both business and accounting ethics. Of all the dispositions and habits which lead to political posterity, religion and morality are indispensable factors. In vain would that man claim the tribute of patriotism who should labour to subvert these good foundations of human happiness, these firmest of the duties of the citizens. All politicians together with pious man ought to respect and cherish these values. Let me simply ask this question. Where is the security for property, for reputation, for life, if the sense of religion obligation desert the others, which are the instruments of investigation in Courts of Justice?. Reasons and experience both forbid us to expect that national morality can prevail in exclusion of religious principle. Whether a person derives ethical values from religious principle, history or literature or...
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