Ethics in Accounting

The key role of company directors and managers is to maximising profits for their shargonholders, unless the owners are not the only people that they are responsible to. some(prenominal) last that is made by the directors and managers can equal more other s manageholders to the company. Therefore, they are not altogetherowed to be pose in any office they like. When making a decision managers and directors essentialiness rejoinder into consideration whether it is of an ethical nature. If a decision is seen as unethical by stakeholders the company will be negatively affected. According to Carroll Ethic all in ally, businesses are obliged to act in the carriage expected of them by society. So managers and directors absorb an obligation to particle on the highest standards of ethical conduct. In order to maintain this or so companies must develop their own enciphers of ethics. A good subject of a enter of ethics is the Code of ethics for professed(prenominal) acco untants. This code promotes five key principles; integrity, objectivity, original competence and due care, confidentiality and professional behaviour. For an organisation to succeed it must be valued by its stakeholders and by following a code of conduct that performs in the best interest of the stakeholders this can be achieved.

If company directors and managers do not act in the best interest of all their stakeholders and make decisions based on whatever the owners best interests are only, then they risk performing tasks in a way that is deemed unethical by various stakeholders, constitute them to not want to as sociate themselves with the company. There! are many business issues that are deemed unethical, however there are ternion main ones that are particularly relevant to the finance and accounting system sector of business. These include whistleblowing, insider trading and bribery. Managers and directors must never take part in any of these activities if they would like their company to have a respectable status among society. Whistleblowing is not illegal unless many companies have created...If you want to get a dear essay, order it on our website: OrderCustomPaper.com

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