How Do You Solve Ethical Dilemmas In The Accounting Profession?
Solving ethical dilemmas in the accounting profession means making sure you are recording and interpreting financial data honestly and objectively. The practice of accounting is regulated both by government and by the accounting industry itself. To help accountants to guard against conflicts of interest and other forms of unprofessional conduct, the American Institute of Certified Public Accountants (AICPA) promulgates a Professional Code of Conduct, as well as a summary guide that outlines a “threats and safeguard” approach to assessing your compliance. Consult the AICPA’s Code of Professional Conduct, the authoritative source of the rules that AICPA expects members to follow in the course of their professional dealings. Also consult its Guide for Complying with Rules 102–505, which provides advice for dealing with potential ethical dilemmas with respect to general standards, independence, integrity and objectivity, confidentiality, fees, solicitation, and other basic topics. Note, h
