The Importance Of Code Of Ethics

The word “ethic” was originated from the Greek word “ethos” meaning character or custom. It concerns about how humans should live and about what is right or wrong. A person is said to be ethical if he acts morally to others and unethical if he acts wrongly to others. The famous ethics golden rule is “do unto others as you would have them do unto you." For me, it is such a wonderful quote because when we are expecting others to do good to us, we ourselves must be good to them first.
In professional world, there is no room for unethical behavior, including accountancy profession. A professional accountant not only needs to be responsible for the client or employer, he also has to take care of public interest as well. Thus, an accountant should perform the works ethically as he carries big impact on stakeholders. He should comply with the code of ethics so that the public will trust him because it will influence the conduct of an accountant. Besides, the information provided by him is useful for many stakeholders as they depend on that information for decision making. Being ethical, an accountant will able to overcome ethical dilemma in future, by considering the benefits of stakeholders, instead of the organization itself. …show more content…
This will create a threat to the professional objectivity, hence may affect the performance and the quality of work will be questioned. Having this conflict, it will destroy the reputation and image of the professional accounting in the eyes of public. One of the solutions to prevent or reduce this conflict is to raise awareness among the members of an organization regarding the activities that will create potential or actual conflict of interest. The members should be reminded often as they might forgotten or ignore this issue. The management may hold periodical meeting to have a deep conversation among the employees to detect any conflict