Synopsis of Accounting Ethics
Synopsis of Accounting Ethics
Accounting ethics is a standard guide for accountants in their professional practice. The purpose of this guide is that the accountants maintain the integrity ,reliability, transparence of the financial reporting, which is the most important documents for the financial marketing and the economy. Here are some key components and principles of accounting:
- Integrity
The accountant is supposed to behave honestly and forthright is all professional and business relationship. The accountant should avoid conflicts of interest and refrain from engaging in activities that could affect the reputation or the profession .
- Objectivity
The accountant should not be biased ,have conflict of interest or have undue influence to override their professional judgement.This ethics ensures that the financial information is presented fairly and impartially .
- Professional competence and Due care
The accountant should maintain their professional knowledge and skills at a level required to ensure that the clients or employers receive competent professional service.The accountants are supposed to act diligently and in accordance with applicable technical and professional standards.
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