Question

What ethical considerations should a tax accountant be prepared for as they begin their career?

Answer 1

In professions such as tax preparation, accountancy, and many more similar professions, ethical questions tend to arise on a regular basis. Naturally, local and federal laws govern a great deal of such decisions, and the ethical codes lay out by professional organizations. However at the end of the day, making an important distinction between right and wrong in different scenario's requires tax accountant who has just begin their career to use their training for making the informed judgment

The tax accountants operate in a highly competitive environment. In beginning of their career when employed in aggressive firms, they face strong incentives for the maximization of the professional revenue. Consequently may confront immense pressure to recruit new clients and retain old ones. These clients, at times may demand tax accountant to utilize their knowledge to minimize tax liabilities. But there are ethical and technical limits on the tax accountants. If they oversteps these limits can suffer many sanctions including malpractice claims, penalties and even imprisonment