Accounting and Ethics

In a world where meeting the bottom line has become so important, the relevance of ethics has diminished and has taken a back seat in the business world especially in the accounting practice. This is evidenced by the numerous corporate accounting scandals in the recent years. Amidst these scandals, it is ever more important to place more emphasis on ethics in conducting business.

Ethics is important as it binds company and its constituents to do what is right. It produces honest workers and good work that are so vital to the success and longevity of a company. With respect to accounting practice, being bound with ethics should be foremost. Accountants in doing their work should comply with requirements and regulations; thereby avoiding lawsuits that can be very costly. Accountants have a huge responsibility of communicating accurate and reliable information for it is one of the first things that investors look at. When