March 15, 2013
Checkpoint Ethics in the Accounting Profession
13. Is a professional accountant a businessperson pursuing profit or a fiduciary that is to act in the public interest?
This is a hard one to answer. Many accountants start off looking to make a living. The question is where do they want to go and what they see themselves doing. An accountant main goal is to a fiduciary that is to act in the public interest. We are here to help our clients with their business ventures and to keep things on the straight and narrow. It is our duty to act on behalf of the people not our own financial gain in this career choice. We as accountants fall into the same categories as lawyers, teachers and government officials.
14. Why is it important for a professional accountant to understand the ethical trends discussed in this chapter? Accountants have to continuously be aware of all new laws, new methods and especially what new ethical standards are there. It is the accountant’s duty to make sure to be on top of the new social ethical boundaries that are being crossed and how to avoid or handle when a client encounters this. Once again we are not police but we are the governing wall to keep ourselves and our client free of wrong doing whether directly or indirectly. It is vital for accountants to be educated with the new tax laws and to make sure that the accountant is acting within the parameters given that which governs all accountants both ethical and professionally.