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Accounting ethics is primarily a field of applied ethics and is part of business ethics and human ethics, the study of moral values and judgments as they apply to accountancy. It is an example of professional ethics. Accounting was introduced by Luca Pacioli, and later expanded by government groups, professional organizations, and independent ...
The International Ethics Standards Board for Accountants (IESBA) develops and promotes the International Code of Ethics for Professional Accountants (including International Independence Standards). The IESBA also supports debate on issues related to accounting ethics and auditor independence.
In this context, management intentionally manipulates accounting policies or accounting estimates to improve financial statements. Public and private corporations commit fraudulent financial reporting to secure investor interest or obtain bank approvals for financing, as justifications for bonuses or increased salaries or to meet the ...
Under the AICPA's Code of Professional Ethics under Rule 203 – Accounting Principles, a member must depart from GAAP if following it would lead to a material misstatement on the financial statements, or otherwise be misleading. In the departure, the member must disclose, if practical, the reasons why compliance with the accounting principle ...
Business ethics operates on the premise, for example, that the ethical operation of a private business is possible—those who dispute that premise, such as libertarian socialists (who contend that "business ethics" is an oxymoron) do so by definition outside of the domain of business ethics proper. [citation needed]
Applied ethics is distinguished from normative ethics, which concerns standards for right and wrong behavior, and from meta-ethics, which concerns the nature of ethical properties, statements, attitudes, and judgments. [10] Whilst these three areas of ethics appear to be distinct, they are also interrelated.
An Enron manual of ethics from July 2000, about a year before the company collapsed. Enron's complex financial statements were confusing to shareholders and analysts. [1]: 6 [10] When speculative business ventures proved disastrous, it used unethical practices to use accounting limitations to misrepresent earnings and modify the balance sheet to indicate favorable performance.
In metaphilosophy and ethics, metaethics is the study of the nature, scope, ground, and meaning of moral judgment, ethical belief, or values.It is one of the three branches of ethics generally studied by philosophers, the others being normative ethics (questions of how one ought to be and act) and applied ethics (practical questions of right behavior in given, usually contentious, situations).