Ethics in Accoutning
This paper will discuss the public perception of CPAs in today's society, pitfalls that they may encounter, methods to prevent some of these negative behaviors and consequences they may face should they fall short. Most "Who Do You Trust?" surveys rank politicians, lawyers, and used car salesmen at the bottom and certified public accountants at the top. That is because the CPA profession has a squeaky clean image-stereotyped as harmless men who wear thick glasses, do not speak too much, and have pocket protectors. CPAs are known and respected for their honesty. The accounting profession that goes out of its way to project that image, and there is a certain amount of truth to it. Not all accountants are fit the stereotype. Many of them are quite articulate. Some are quite lovely, and in some schools, more than half of the accounting majors are women. Also, not all CPAs are squeaky clean and respected for their honesty. Some are quite dishonest and are putting a black mark on the image of the entire profession. There is one area where the CPA profession has fallen short of protecting the public interest. The general duty that accountants owe to their clients and the other persons who are affected by their action
A few years ago the American Institute of Certified Public Accounts (AICPA), the largest CPA membership organization in the world, decided that starting in the year 2000, new members would have to have 150 semester hour of college credits (5 Years) instead of the present four years to become a member (McGee). On the surface, that does not appear to any big deal. No one has to become an AICPA member to practice public accounting or to be a CPA, but there are several problems with this. Primarily, students (or parents) are harmed the most, who must cough up another $10,000 or $20,000 for a fifth year of education. Then there is the added cost of not having a job for the extra year it will take to complete the fifth year, so there is another $25,000 - $30,000. This is not the only problem. Poor people and minorities, along with rest of us, will have to face an even higher barrier to be recognized in upper levels of the accounting profession. (Metzger 1061) McGee, Robert W., "CPAs vs. the Public Interest". Dumont Institute, Ethic Information Center. 3. Develop "a sense of moral obligation" or responsibility. Whitbeck, C: 1992, 'The Trouble with Dilemmas: Rethinking Applied Ethic', Professional Ethics 1, 119-142. 1. Relate accounting education to moral issues. Fulmer, W.E., and B.R. Cargile: 1987, "Ethical Perceptions of Accounting Students: Does Exposure to a Code of Professional Ethics Help?"
Some common words found in the essay are:
Accounting Ethics, CPA Primarily, Exchange Commission, Accounts AICPA, Accounting Education, Fulmer Cargile, Professional Ethics, accounting ethics, Center Whitbeck, Environment Concepts, accounting education, accounting profession, Robert CPAs, issues accounting, profession held esteem, codes conduct, cpa profession, squeaky clean, whitbeck 1992, certified public, issues accounting education, professional ethics,
Approximate Word count = 1159
Approximate Pages = 5 (250 words per page double spaced)
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