Question

How do you thing improved ethical practices could be established and maintained in a given organization’s accounting?

Answer 1

Establish and maintain high ethical standards

• Develop Ethical standards. An integral first step to formalize your expectations and make it clear about which behavior are and aren't acceptable.
• Ensure leaders Exhibit proper behavior
• Be diligent about enforcing policies.
• Praise positive behavior.
• Promote community involvement

Integrity is an important fundamental element of the accounting profession Integrity requires accountants to be honest, candid, and forthright with a client's financial information. These ethics and conduct rules ensure all accountants act consistently.

Professional accountants are regularly confronted with ethical choices and moral dilemmas in the course of their professional activities. A recent Australian study sheds light on the persistent ethical conflicts, tensions, and pressures that accountants face when doing their work.

The report provides an overview of the ethical challenges faced by accountants and proposes a set of recommendations for ethics training program design that can enhance accountants’ capabilities in dealing with ethical issues and identifies a list of ethical capability needs across different contexts. Ethical capability is the ability to bridge the gap between actual and desirable professional behaviors and is the most relevant indicator and predictor of ethical behavior in the workplace.