Morality in Accounting

By Ahmed Riahi-Belkaoui | Go to book overview

3
Examples of Ethical Issues and Cases

Chapter 2 examined the general issue of ethics in accounting and some of the potential solutions that could be used to socialize accounting students to a greater standard of ethics. This chapter examines examples of ethical issues confronting the profession that are in urgent need of solutions, and reviews famous cases where the ethical standards were not well respected. The special ethical issue of insider trading is presented in the Appendix to this chapter.


ETHICAL ISSUES

The Dilemma of Peer Review

The question is how to regulate the activities of CPA firms and ensure that the quality of the services offered is adequate, with the ultimate purpose of protecting the public from exploitation and inadequate service by accountants. Regulation may be exercised by the government (government regulation), the private sector (private regulation), or the profession itself (peer regulation).

Government regulation of accounting includes the laws, regulations, licensing requirements, courts, legislatures, commissions, and legal procedures used to protect the public from fraud. It has not been proved to be an effective deterrent of unacceptable behavior. Private regulation includes all of the professional requirements used to meet the profession's standards and to provide quality services as good as those provided by the competition. Private regulation uses the market factor as a guide and a judge for the quality of the services provided by the accounting professional. Finally, peer regulation includes voluntary rules established by the members of the accounting profession to improve the quality of the services rendered. It uses

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Morality in Accounting
Table of contents

Table of contents

  • Title Page iii
  • Contents vii
  • Preface ix
  • 1 - Fairness as a Concept of Justice in Accounting 1
  • 2 - Ethics in Accounting 25
  • 3 - Examples of Ethical Issues and Cases 75
  • 4 - Honesty in the Accounting Environment 119
  • 5 - Accounting and Social Responsibility 149
  • 6 - Truth in Accounting 177
  • Conclusions 201
  • Notes 202
  • Bibliography 206
  • Index 209
  • About the Author 213
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