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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 .
The philosophy of accounting is the conceptual framework for the professional preparation and auditing of financial statements and accounts.The issues which arise include the difficulty of establishing a true and fair value of an enterprise and its assets; the moral basis of disclosure and discretion; the standards and laws required to satisfy the political needs of investors, employees and ...
France – Government has moved to accrual recently: Government financial statements were issued for the first time in 2006. They are audited by the Cour des Comptes (Public National Audit Office). Accounting standards are based on French GAAP for the private sector, IFRS and IPSAS.
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 ...
The objectives for which government entities apply accountancy that can be organized in two main categories: - The accounting of activities for accountability purposes. In other words, the representatives of the public, and officials appointed by them, must be accountable to the public for powers and tasks delegated.
Joseph Edmund Sterrett outlined the debate and issues in setting up a Code of Professional Conduct in his address to the annual meeting of the American Association of Public Accountants in 1907 [2] The earliest "official" version of the code of professional conduct among American accountants was issued by the American Institute of Accountants on April 9, 1917.
Accountability, in terms of ethics and governance, is equated with answerability, culpability, liability, and the expectation of account-giving. [1]As in an aspect of governance, it has been central to discussions related to problems in the public sector, nonprofit, private (), and individual contexts.
The Accounting Professional & Ethical Standards Board (APESB) is an independent, national body that sets out the code of ethics and professional standards with which accounting professionals who are members of CPA Australia, Institute of Chartered Accountants or Institute of Public Accountants must comply.