Ethical Issues Affecting the Accounting Environment - Case Study Example

The issues ethics for these accountants’ suits maintaining accurate details of company resources, liabilities, and also profits without succumbing to the demands placed on them by managing departments or officers in a corporate, disreputable accountant may and easily alter a company’s financial report and change numbers to paint a bogus picture of the company’s successes. This may result in short-term prosperity, but altered reports ultimately bring the downfall of any company whenever the Exchange Commission and Securities discover the fraud.

Effect of greed
The effect of greed in the finance world and any business leads to shaving ethical limitations and stepping in safeguards in the name of generating money. An account might never permit the desire to make a better living and obtain more wealth to get in the way by ensuring that he/she follows ethical procedures or guidelines for financial reporting (Moore 23).
Omission of financial records
An executive or other corporate officer may request an accountant to skip or leave out certain monetary figures from a balance sheet so that they may paint the business in an awful light to despite the industry investors and public.
Bill should report this to the client and instruct the client to refuse the presented work papers presented to him for they do not give a true and fair view of the discrepancy that bill had come across (Moore 33).
By AICPA the performance of any expert service, a member shall uphold integrity and objectivity, shall always be liberated from conflict of interest, and shall not intentionally misrepresent information or share his or her judgment with anyone.
Any member shall always be thought to have deliberately misrepresented particulars in infringement rule 102 of the code of conduct of AICPA, when he/she consciously permit, make, or directs another member to make, substantially untrue and misleading information in an entity’s financial records or statements. Read More