What does it mean to “act in the public interest” for accountants?

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Expert Solution

'Act in the public interest' for accountants means that the accountant has the responsibilities to work in the interest of public, to achieve the common goal of community, to protect the harmony of nation.

Accountants should never work in the personal interest of his own or one or two person against the interest of nation. They should never encourage other or involved in doing work against public interest.

For example, An accountant gives ways to his client for evading tax, which leads to loss of revenue to nation. Here, accountant didn't act in public interest as he/she choose personal interest of his client than the nation.

ekkarill92 answered 1 year ago

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