Why Are Ethics Important in Accounting?
“In this clip, we’re going to talk about why ethics are so important in accounting. One of the reasons that accountants need to have ethics is because public accountants actually sign off on financial statements. They need to be ethical, as well as maintain their independence or separation from the companies that they are auditing, so that people can rely on the signature they put on those financial statements. Accountants have been a trusted professionals for many years, and that’s one of the reasons that they have a code of conduct. That way, associations like the AICPA can regulate the conduct of accountants and make sure that it stays a trusted profession for many more years to come. And if you think about it, accountants report all of the financial information and results that control our markets and our economy. So if accountants weren’t ethical, we couldn’t rely on any financial data that controls what the price of the stocks is for our market.
