How do CPAs serve as" the moral conscience" of their clients ? Explain in details

Expert Solution

The term moral conscience means the inner sense of what is right or wrong in one's conduct or motives, impelling one toward right action. To address the tension between their
commercial and professional interests, Professionals are subject to strict ethical and moral codes of conduct The CPAs serve their clients as moral conscience in fallowing manner. 1.CPAsshould fallow INTEGRITY - Being straight forworf and honest in all professional and business relationships. 2. OBJECTIVITY - should not allow bias conflict of interest and undue influence of others to override professional judgement. 3.PROFESSIONAL COMPETENCE AND DUE ARE - Maintaining professional knowledge and skill to ensure that clients or employer receive competent professional service based on current developments in practice, legislation and techniques. 4. Acting diligently and in accordance with technical and professional standards when providing professional services. 5.Confidentiality: Respecting the confidentiality of information acquired from professional and business
relationships and not disclosing information to third parties without proper and specific authority unless there is a legal or professional right or duty to disclose. Confidential information
acquired as a result of professional and business relationships should not be used for the personal advantage of the member or third parties. 5.Professional Behaviour: Complying with relevant laws and regulations and avoiding any action that discredits the profession. A relatively straight-forward test of ethics
is "Does it pass the front-page of the Irish Times test? If not, don’t do it! As the Greek philosopher, Socrates, has observed:
Regard your good name as the richest jewel you can possibly be possessed of - for credit is like fire; when once you have
kindled it you may easily preserve it, but if you once extinguish it, you will find it an arduous task to rekindle it again. The way
to gain a good reputation is to endeavor to be what you desire to appear.".

ekkarill92 answered 1 year ago

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