E Commerce

Accounting Regulation in Corporate Governance will not necessarily lead to higher ethical standards.

In recent years, professional ethics has been placed at the top of discussion, and a lot of developments have been brought about within the corporate governance. Duska and Duska claim that accounting is an essential professional practice, and the current global economy has no existence without it (2011). These two authors also argue that ethics is now a part and parcel of corporate governance. Even our society expects more from the accounting professionals. However, a matter of concern comes to the discussion that some are more likely to prefer immoral means for their gain. Carroll and Buchholtz point out that several unscrupulous stockholders, creditors, and other parties related to the financial performance give enormous pressure to accounting professionals (2012). Consequently, business managers are in severe stress in maintaining ethical standards. Some human-resource professionals agreed that they have to compromise the code of ethical business conduct because of the oppression. And as a result, according to the opinion of Swanson and Fisher (2008), ethics and its importance in decision making have become significant. However, companies face various legal and economic punishments for unethical means, and expectations of higher ethical standards, and behaviors are increasing. Some organizations take ethical issues seriously and make corporate strategy for it. Jeffrey supports the corporate concern on ethics and adds that corporations are now considering ethical behavior as good business and not only doing the right thing (2011). And now, the growing concern is the performance of these ethical rules and regulations set by the organizations as well as the governments (McPhail, 2012). Some writers argue that, it is impossible for the regulations to maintain higher ethical standards without encouraging individual morality and virtue of the professionals. This

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