Chapter 1

THE PROBLEM AND ITS SETTING

Background of the Study
The business world changes in every tick of the clock. As a result, businesses tend to rise or fall and the stability of the business enterprise is always at stake. But, business sustainability depends on its financial performance and the people governing the business. And to measure whether companies are capable of handling potentially unexpected corporate risks, companies’ accounting transactions are reported through financial statements. These financial statements are the masterpieces of accountants who analyze the transactions and measure the financial stability of the company if they are sustainable enough to defray any business risks. However, in presenting these statements, some accountants may mislead owners or decision makers through financial mistatements which affect the business itself. Because of this accounting malpractice, it may cause to a major problem that will put CPAs into grave misconduct such as allegation of fraud and engangement in corporate accounting scandals. Accounting malpractice are affecting the businesses globally. It decays the economy of the country and slowly creeps into different industry until they are no longer outlive in the business world. In fact, the Report to the Nations on Occupational Fraud and Abuse in Asia-Pacific Region led by Wells (2010) found out that the Asia Pacific median has a loss that was significantly higher than the global median loss of $160,000 because of accounting malpractices. This report also added that 338 fraud cases that has been found on that Asia-pacific region wherein China has the most number of fraud cases and followed by India, Australia, Indonesia and United Arab Emirates. This claim has been confirmed further by Yancey (1996), which she states in her study that during 1987-1993 AICPA Professional Liability Insurance Plan received 3,295 new malpractice claims, of which 48% were from tax engagements, 17% from audits, and 35% from other accounting and consulting engagements. In the Philippine setting, according to Association of Certified Fraud Examiners with the supervision of Carson (2010), most of the fraudulent activities were committed in the private company, accounting for 42.5% of all cases. Public listed companies made up 39.8% incidents, government companies 15.6% and nonprofit companies 2.1%. Moreover, based on the performance of the officials and executives including accountants, they found out that occupational fraud in these ranks were most rigorous which accounted for 76% of the total occupation fraud. This is one of the reason why we heard a lot about accountants being suited in the court for malversation and embezzlement of public funds. Among the researchers being an accounting students in the University of Mindanao, it has been also an observation that in the local and national news, accountants are usually involved in corporate scandals and accounting malpractice in either government and private companies. Because of these, we can surmise that CPAs are undergoing ethical confusion or rather challenges of being an accountant. As for this reason, the researchers believe that it is essential to conduct a study concentrating on the ups and downs of being an accountants beyond their unassailable intellegence.
Purpose of the Study This qualitative study was conducted successively to discover the experiences of the Accountants ups and downs beyond their intelligence being a Certified Public Accountant from their works and doings as to their journey in their profession. This study helps dealing with the experiences of the Accountants and insights the good thing from those experiences. The moral, ethical, and values of Accountants as my participants are also being described in this study.

Research Questions These are the questions that will determine the main focus of this study:

* What are the experiences faced by the CPAs? * How CPAs handle ethical responsibility in the profession?

Theoretical Lens
Accountants have a fiduciary duty towards stakeholders and also they need to support businesses in discharging their corporate governance. If accountants are perceived to be incompetent in providing organizational leadership, promoting ethical values and professionalism, this will affect the confidence level of shareholders and potential investors and they will be a sore in the eye of the public instead of the apple. If this is perceived to be lacking, the image of the profession could be marred and this could also deter students from choosing accounting as a career. It is critical that the accounting profession maintain its ethical integrity and technical expertise as well as professionalism in upholding public interest. The profit seeking motive should not engulf the standards of professional practice and societal accountability. In this aspect, there is a need to monitor that the members are committed and adherent to the substance of the accounting profession's professed and espoused values (Raar, 2006).
This research is based on the study conducted by Norwood (2014) as she stated that the accountants from any sector such as the government, academe, private and public practice, have their own different challenges in their line of work. Accountants experience a lot of difficulties on how to handle these issues. But after all, there is a reward that they want to be more motivated. The ups and downs of an accountant are a climactic part of their life in this world. They needed to have patience to encounter this kind of experiences.
This statement has been supported the idea of Micallef (2014) who cited that if you have taken more risks then there are also a greater chance of rewards after. To be a risk-taker is part of being an accountant and you need to have a brilliant ideas to manage it. In the study of David et Al. (1994), they have surveyed public accountants, questioning them about their beliefs concerning the American Institute of Certified Public Accountant's "Code of Professional Conduct". In an attempt to provide further insight into the beliefs of accountants, the authors also investigated accountants' perceptions of how behaviors which might be viewed as unethical impact in the firm. In their study they have investigated certain demographic data such as gender, role and organizational level. These characteristics are investigated to determine if they impact beliefs about the AICPA Code and if they impact the perceptions held by public accountants about how selected behaviors affecting the firm. First, the authors chose to investigate the interrelationship between responses to the code provisions and gender. Miesing and Preble (1985) investigated the ethical beliefs of men and women in business and found that women demonstrated a higher level of ethical beliefs than men.
In a study involving students, St. Pierre et al.(1990) also found that women scored higher than men in a test of ethical development. On the other hand, studies by Stanga and Turpen (1991) and by Kidwell, et al. (1987) did not find significant differences in the responses of males and females. Barnett and Karson (1989) found that gender differences were inconclusive and the significant differences that they did obtain may have been situation specific. Because of these conflicting research results, they chose to include gender in their study.
And as a result in the study of David et al (1994), they have found out that the respondents expressed the highest level of agreement with the Code were the statements concerning the obligation to demonstrate a commitment to professionalism and maintaining independence in performing the independent audit. At the lower end of the scale were maintaining objectivity and accepting the obligation to acting a way that will serve the public interest. There are also three behaviors which the respondents in the study believed had the greatest impact on firm image and ability to transact business and which the firm shows the greatest concern over its implications are failing to correct material errors, failing to correct material omissions and resolving material technical issues in the client's favor in response to client pressure. The one behavior which consistently had the least impact was the under-reporting of expenses on expense sheets.
It appears that public accountants believe in the AICPA's "Code of Professional Ethics". It indicates that respondents feel the components of the Code were important to extremely important. Demonstrating a commitment to professionalism and maintaining independence and appearance in performing independent audits were found to be more important than the other components of the Code.
This statement was further supported by Nga and Waiger (2004). In the findings of their study, they have concluded that the research have implications on retention of talent in accounting and perception management through branding of the accounting profession as well as creating a relevant and ethical business education environment. These implications need to be addressed as accountants should play a critical role in ensuring accountability and governance of private and public expectations. Future accountants need to be more relevant to be able to promote greater transparency and stewardship which is needed to engage in sustainable business practices.
In summary, the ups and downs of the accountants or simply the endeavors that they are taking each day should not be viewed as burden in their profession. We must take a look at the different perspective to see that they have control and decision making ability that will not put ethical values at stake. They still have the ability and the intelligence to defray any external forces that might influence there decisions and action.

Significance of the Study This study contains an abstract of the experiences of the Certified Public Accountants. Through personal interviews and gathering of data analyzed in this study. Our intention is to have information about the ups and downs of the Certified Public Accountants beyond their mere intelligence.

The main significant persons in this study are the following: This study encourages the Accounting Technology Students and the Accountancy Students to have an understanding about the life of an Accountant facing accounting endeavors. They are motivated to understand why the accounting malpractice and corporate accounting scandals are existing, and they want to know how to handle this kind of problem fom the experiences of the Accountants. It helps them to have cognizance about the challenges faced by the Certified Public Accountants and how they manage it beyond mere intelligence. They will be able to have a good strategy to cope with that situation for a better Accountant. The students will make great proficiency in the future which make them aware about the possible circumstances that they will also face as they acquire a license of beng a Certified Public Accountant. On the other hand, for the Researchers, this study discovers the different ups and downs of the Accountants. They would like to know about how to handle the risks and rewards in this profession. For the Certified Public Accountants, this will help them inculcate to the students how to face the unexpected endeavors in their field of practice. They also help to inspire the students to be wise and to act ethically in accordance to the code of ethics. This will enable them to look into different perspectives of their co-Accountants. Definition of Terms The definition of terms is defined optionally to make a better understanding of the terminologies obtained from this study.
Certified Public Accountant. It is a person who, after obtaining the required education passes an extensive examination and is licensed by the country to practice as a professional accountant whose job involves keeping of financial records of a business or a client. It is a practitioner of accounting or accountancy, which is the measurement, disclosure or provision of assurance about financial information that helps managers, investors, tax authorities and others make decisions about allocating resources.
Ethics. It refers to the discipline and dealings with what is good and bad, and moral duty and obligation which sometimes known as moral philosophy. It is a branch of philosophy that involves systematizing, defending and recommending concepts of right and wrong conduct, often addressing disputes of moral diversity.
Ethical Responsibility. It is a duty or task that you are required to do because it is morally right and legally required. It is the duty to follow a morally correct path. In your personal life, you might feel the greatest sense of ethical responsibility to your family and close friends. But small business owners also have ethical responsibilities to the many people who count on them to do the right thing. Corporate Accounting Scandal. It refers to an accountant in the corporation that made a losses of or damage to reputation caused by actual or apparent violation of morality or propriety. It is a political or business scandals which arises with the disclosure of financial misdeeds by trusted executives of corporations or governments.
Accounting Malpractice. It refers to a wrongdoing or illegal actions done by the accountant. It is generally defined as failing to provide services that a reasonably well qualified accountant would have been expected to perform. This is also commonly referred to as an accountant's duty to comply with the standard of care of a reasonably well qualified accountant practicing in the same field and community.

Delimitations and Limitations of the Study The study is conducted in the different sector of the Accounting such as in public, private, Academe, Government and Commerce and Industry. The researchers choose to look only at Certified Public Accountants which underwent risks and rewards in their profession and able to surpass endeavors beyond their intelligence. The researchers are going to take only 12 persons as their respondents which comprise of 5 persons as participants in the in-depth interview and 7 persons under the focus group discussion.
We, as researchers, we did not reveal the name of the participants in order to protect their privacy unless the concern wants to. The researcher only wanted to know the result of the ups and downs of the participants by their intelligence. It is assumed that all the control have accurately and honestly responded to the interviews.The researcher would not be able to control the recall of the subjects "day of injury".

Organization of the Study The following are organized about this study:
Chapter 1 Introduction This chapter presents the problem situations that will support the conduct of the study wherein the researcher refer to many situations, instances, and the reasons why there is a need to conduct the said study. The purpose of the study consists some goals to follow. The significance of the study cites as to whom the study will benefit. Delimitations and limitations present scope of the study and the organization of the study states the description of the different chapters of the study.
Chapter 2 Related Literature
This chapter consists of ideas, titles of different related articles accumulated from the studies written from diverse materials such as books, journals, internet, magazines, school papers, and electronic books and adjacent to the presentation of this manuscript.
Chapter 3 Methodology
This chapter presents the research design in which the researcher states the phonology of the study. The role of the researcher in which he is the one who will interview the participants and the researcher will not be judgmental. A research participant is a person who will answer the interview or he/she will be called interviewee. The data in this study taken from in-depth interview and focus group discussion. Data analysis will be done by software or manual. Honesty and sincerity show that the researcher will seek the true reasons and evaluation about the ups and downs of the Accountants beyond their intelligence. The ethical consideration can be done by protecting the name of the participants due to privacy.

Chapter 2

REVIEW OF RELATED LITERATURE
The writers underwent an intricate research with regards to the different writings and accumulated studies written from diverse materials such as books, journals, Internet, magazines, school papers and electronic books adjacent to the presentation of this manuscript. Literatures to be discussed include the definition of Accounting, responsibilities of a CPA, challenges of being an accountant and how CPA balances situation.

Accounting as Defined
It is not easy to give a succint meaning of accounting since the world has a broad application within businesses and applications. The description of accounting varies from organizations to organizations. Associations use of accounting diverge in functionality depending on the sector but they share common foundation of accounting. For Brimbson and Antos (1994), accounting is a “service activity”. Its function is to provide quantitative information, primarily financial in nature, about economic entities that is entended to be useful in making economic decisions.
Accounting is an art. It records, classifies and summarizes transactions and events in significant manner and in terms of monetary value in which are part of financial character and interprets the results therein (Committee on Accounting Terminology of the AICPA, 2010).
Another definition was given by American Accounting Association (2013) as to what accounting is all about. For them, accounting is a process of identification, measurement and communication of economic information which allows informed judgement and decisions by information users. It suggests that accounting is about providing information to others. Accounting information is economic information - it relates to the financial or economic activities of the business or organization. Accounting information needs to be identified and measured. This is done by way of a "set of accounts", based on a system of accounting known as double-entry bookkeeping. The accounting system identifies and records accounting transactions. The measurement of accounting information is not a straight-forward process. it involves making judgements about the value of assets owned by a business or liabilities owed by a business. it is also about accurately measuring how much profit or loss has been made by a business in a particular period. As we will see, the measurement of accounting information often requires subjective judgement to come to a conclusion. The definition identifies the need for accounting information to be communicated. The way in which this communication is achieved may vary. There are several forms of accounting communication (e.g. annual report and accounts, management accounting reports) each of which serve a slightly different purpose. The communication need is about understanding who needs the accounting information, and what they need to know (Riley, 2012). Its primary purpose is to supply quantitative information, basically financial in nature which is intended to be useful in creating economic decisions. This is also refers to the process of summarizing, analyzing and reporting these transactions to other stakeholdes (Investopedia, 2013).
As cited by Hoboken et. Al (2003), accounting is a "people profession". Accountants does not always face numerical figures and financial statements. But, they also work with other people to help resolve business issues. In this manner, they essentially contribute strong analytical skills to comprehend data which is financial in nature while building an effective network of manpower among its workmates. To dissimate financial information among stakeholders, professional accountants need to have a good sense of interpersonal capability. This skill will be utilize to assure that that the public as well as the other stakeholders will understand the presented complex financial information. Therefore, accountants must be fully-equiped with the knowledge and adroitness to do better in therir chosen work identity and ofcourse for being part of the "people profession".

Professional and Ethical Responsibilities
The accountant's responsibility has been increased and become more significant over the past decades. They are now viewed as a catalyst of change in the growing economy. In fact, every accountant has the responsibility to make early statements available to the management before the following accoutnming period closes in order that the records are of real value to measure the results of the business operation. During the learning process, the future accountants, which are the accounting students, are taught in school as one of the first lesson in accounting is the principle of timeliness. The information that the accountants are giving should be timely enough most especially during the decision making process since any material information could make a difference. Thus, businesses depend on the accountants to report results of business transactions and provide guide figures (Paul and Cassel, 1939).
The importance of accountants are far more different from the past which are vividly portrayed in the society nowadays. They could take a vast array of business roles in different sectors in the sodality namely in public practice, nonprofit oraganizations, private companies, regulatory professional bodies and academia. Indeed, accountants have a wide range of expertise which makes them highly regarded in their profession. Even though accountants varies in skills and their chosen sector, their expertise can only be intersected in one aspect - their knowledge about accounting (IFAC.org, 2013).
A profession is distinguished as a body that possesses a specific knowledge base and has the requisite expertise to further nurture the development of the necessary skills for public service ( Stuebs and Wilkinson, 2009; Cowton, 2009; Sama and Shoaf, 2008). It would not be possible for an individual accountant to command trust without the requisite technical as well as leadership competence ( Washington et al. , 2006). Acquisition of technical knowledge would require a substantial period of training for certification/qualification (Cowton, 2009). As such, accounting professionals often command high level of financial remuneration and to a certain extent personal reputation.
The accounting profession obtains a unique “knowledge-set” or simply expertise which affirms that this knowledge will be used in the public interest. Eventhough the CPA were experts, they also have the responsibility to share this knowledge for the betterment of the society which can influence public itself (Buckley, 1972).
It also ensures availability, management and accountability of funds which is critical to the operations of businesses. The role of accountants needs to transform from that of a “traditional bean counter” to a controller and moving onward as an enabler and co-creator of organizational value (Denning, 2011). As such, accountants today need to embrace the mindset of leaders rather than merely managers. Examples of Filipino accountants who have assumed key management positions of public listed companies are Eduardo Sahagun (CEO- Holcim Philippines, Inc), Manuel “Manny” Bamba Villar (Financial analyst - Real Estate), Roberto V. Ongpin( Chairman - Alphaland). As leaders, they drive the vision and mission of the organization.
Same as the other careers out in the market, professional accountants are increasingly challenged to demonstrate their importance in the capital arena. They are tested through time with their ability to evolve, cope and face new endeavors. The accountants in business are “key pillars” in the organization which help form and maintain value and growth. Their ability to continue to perform these roles in the space of constant environmental revolution is a vital skill to their continued relevance (Jui and Wong, 2013).
CPAs often find themselves being at the frontline safeguarding the integrity of financial reporting. Even though they might be in different sectors, their training in accounting enables them to cope pragmatic approach in solving corporate issues and contribute to the over-all stability and proficiency of society (IFAC.org, 2013).
Professions are generally recognized as elite “occupational classifications” in our society. In Greenwood’s (1957) article Attributes of a Profession, he provided five major qualities of an idyllic profession in which accounting profession satisties these characteristics namely body of theory, professional authority, community saction, regulative code and a culture. The underlying theory of accounting profession consist of accounting theory – general accepted accounting principles and auditing theory. This systematic theory can be achieved best through formal college-level education in an academic environment. Professional authority is the second attribute given. In this characteristic, CPAs are the experts which the clients need to be consulted. They determine what is good or bad for the client and thus the client accedes to this professional judgement. Moreover, the basis of accountant’s professional influence is his/her knowledge and expertise in the systematic theory of accounting.
Accountants can influence people and thus admission to the professsion is controlled. Before they will be given a license to practice, they must satisfy the government educational requirements and pass the CPA Licensure Board Examinations. This process is being controlled by the Professional Regulatins Commissins through the Board of Accountancy. Eventhough they are accountable to their actions to the commusnity, it is understood that their performance should be judge according to the standards established for this type of profession. Therefore, accounting profession complies the third attribute given by the same author (Greenwood).
On the fourth and fifth qualities of an ideal profession of Greenwood (1957) which are the regulations code and culture, he states that the power of professional accountants and their priveleges in the society comprises a monopoly. As a prevention of any abuse of such power and privileges from CPA’s personal interest, Code of Ethics have been promulgated and made legally through the Accountancy Law. Since CPAs are member of “time-honored profession” and have huge responsibilities in the sodality, these things affect their behavior. Accounting has developed a professional culture evidenced by formal norms in the code of ethics that will serve as their guide.
While the attributes of accountants discusses specific characteristics of individual accountants, the perception of the accountancy profession deals with the characteristics of the accountants, as a group or body of certified individuals. Professions are governed by a code of ethics and accountability to an institution of peers ( Raar, 2006). Professions are trusted for their integrity and often exist through their voluntary commitment towards self-regulation. Self-regulation of a professional accountant requires cognitive abilities as well as self-awareness to continually adapt to changes in the organization as well as the business environment ( Taylor-Bianco and Schermerhorn, 2006).
It has been questioned whether the accounting practice should be treated as a profession or industry (Kranacher, 2009). As a profession, accountants are committed to a calling in upholding specialized knowledge through extensive academic training and examinations as well as voluntary subscribing to a duty towards promoting public interest. On the other hand as an industry, accountants are viewed as part of the labour force which is geared towards seeking efficiencies in profit making enterprises. The pertinent issue is whether the image of the profession are hampered by the quality of services extended by a large proportion of non-certified individuals that make up the industry. The question also remains whether professional accountants can uphold their high standards while coexisting with a host of non-certified counterparts.
The identity of the accounting profession is a culmination of individual values, self-image and individualism within organizations and public expectations (Richardson and Jones, 2007). In order to achieve legitimacy of the profession, there needs to be congruence between the values of individuals, organizations and the profession. In light of the financial scandals of the last decade, the issue is whether the profession is doing enough in ensuring that the values they profess are actually conveyed by individuals within their organizational and community settings (Raar, 2006).
The International Financial Reporting Standards (IFRS) has been argued promote relevance in incorporating changes in the reporting needs of industries, organizations and the public (Craig, 1993). In line with this, accountants need to possess not only the technical skills but must also strive to engage more with relevant stakeholders in reinforcing the trust and integrity required of the profession for public service. Accountants need to embrace global changes and help to foster an organizational culture that will enable to better safeguard the interests of its stakeholders. Transformational leadership could be embraced to promote a principled approach towards change and in upholding the integrity of the profession (Sama and Shoaf,2008).
While financial accountants are bound by international reporting standards, management accountants in particular are not strictly bound by accounting rules. Management accountants are more closely involved in the day-to-day planning, control and decision-making functions in an organization. It is envisaged that their role extends to the provision of leadership, strategic management, operational alignment and the facilitation of a learning organization (Brewer, 2008). Management accountants have a role in driving the organizational mission through assessment of risk, formulating and implementation of strategy, aligning rewards to performance and providing constructive feedback. This includes internal analysis, reporting (internal and external), risk management as well as maintenance of internal control. In this respect, the role of management accountants can still be very much of a gatekeeper and/or scorekeeper (De Loo et al., 2011).
Accountants besides executing a fiduciary role to the shareholders, have also a stewardship role to play to society and the environment. In this respect, their role is closely aligned to the servant leader. Servant leaders are driven by strong vision, ethical values and commitment towards stewardship in service within and beyond the organization (Stone et al. , 2004). They have also been perceived to place a high value on empathy, integrity and competence (Washington et al. , 2006). Unlike transactional and transformational leaders, servant leaders' commitment and concern extends beyond the organization and they are often concerned with people over products.
Since accountants has a major influence to the stability of the business organization, their proficiency also embodying a great ethical responsibility. “With great power comes great responsibility”, this statement was from Fezandie (1894). It simply states that those who have power and in the position bears huge accountability towards external forces – stakeholders. Due to this, we can infer that even accountants have the power to influence people to his/her surroundings and thus make them susceptible to responsibility and must act in accordance to the standard setting bodies.
In business, accountants does not only sustain high standards but they also have a key role to play in helping organizations to act ethically. A code of conduct is particularly significant for CPAs because of the reliance that investors, the public, government and business managers place on the acounting profession.The public’s knowledge that members of the profession must adhere to such a code provides a set of expectations about the quality of service CPAs provide. Moreover, a code benefits individual members and the profession as a whole by giving minimum benchmark all members are expected to follow (Cabrera, 2010: p. 273).
The word ethics came from the Latin words “morals” as the meaning coming from “ethikos” in Greek which simply means moral philosophy (Wikipedia, 2015).
Ethics consists of moral principles and standard of conduct. It is a branch of philosophy that deals with the study of the rightness and wrongness of human actions. Ethics can focus on society as a whole or a particular group within a society. Professional groups such as physicians, accountants, etc. have codes of behavior which collectively called as professional ethics. The professional ethics extend beyond moral principles. They include standards of behavior for professionals that are proposed for both practical and idealistic purposes (Cabrera , 2010: p. 273).
Professional ethics notion, used in the meaning of acting as depending on ethical and professional principles in the profession and related activities is a matter which should be paid attention in terms of that professions’ gaining respect and trust from the society (Ozkol et. Al, 2005: 109).
The importance of professional codes of conduct has been expounded by many authors (Frankel, 1989; Backof and Martin, 1991; Beets, 1991). A code of ethics is one of the defining components of a profession. The accounting profession, like medicine and law, has its own code of ethics. Backof and Martin (1991) provide an excellent history of the development of codes of ethics in the accounting profession. Technical competence and ethical integrity are important to preserve the public trust of the profession. Bollom (1988) also indicates theimportance of ethics in maintaining the profession's self-regulatory status. He states that it is in the self-interest of accountants to remain competent and independent.
Professional ethics may be considered as “ a mixture of moral and practical concepts, with a sprinkling of exhortation to ideal conduct designed to invoke right action on the part of the members of the profession concerned- all reduced to rules which are intended to be enforceacle to some extent at least by disciplinary action” (Pushpender, 1966).
The linchpin of the ethical obligation of CPAs to society is to render an opinion and professional judgement on the financial statements of an entity. This opinion is given after the examination and validation of the financial statements of the business organization. The opinion offers “reasonable assurance” that the financial statements are free of material misstatement including fraud (Mintz and Morris, 2008: p. 103).
Accountancy profession exhibits its qualities through its unique expertise and training, demonstrated in its role of financial reporting and other services for the public. It is self-regulated and claims to maintain autonomy buy adhering to its own process of controls through a professional code of ethics as cited by Colson (1995). Thus, it is pertinent to the accountants to act based in the accounting standards and in accordance to the professional code.
Based on the work of Wilkensky (1964), he also arrives in the same supposition with the above statement of The CPA Journal. He observes that the “service ideal” is the pivot around which the moral claim to professional status revolves. In the light of this, the inscribed code of ethics which professional accountants should strive to maintain the public trusts by adhering to the code. However, accountants will be responsive to the code of professional conduct only if they are knowledgeable about it and if it seems relevant, reasonable and unbiased. A professional code and its enforcements are the cornerstone of the public confidence in the profession in which CPAs have subscribed to these codes to impose obligations such as placing public service above immediate personal gain (Carey, 1947).
Ethical codes for professional accountants globally compel CPAs, regardless of their roles that they perform, to advocate values of integrity, objectivity, professionalism and confidentiality (Jui and Wong, 2013). However, Mintz and Morris (2008) claim that integrity is measured in terms of what is right and just in the absence of specific rules, standards, or guidance, or even in the face of conflicting opinions. It is a fundamental trait of character that enables a CPA to withstand client and “competitive pressures” that might otherwise lead to the subordination of judgement. A person of integrity will act out of moral principle and not out of expediency. That person will do what is right even if it means losing his/her client. Furthermore, accountants must not be coerced to abide the ethical codes and they should act according to what is just and lawfully right even if these codes have not been encoded.
Agency theory stipulates that accountants via contractual agreements act as managers or agents of the shareholders who are the principal (Jensen and Meckling, 1976; Godfrey et al. , 2006). The classical theory advanced by Friedman (1987) argued that the main responsibility of the accountant as manager is towards maximizing the financial wealth of the shareholders and the "ethical" duty is limited to adherence to regulations (Gallagher, 2005; McAleer, 2003). Strictly adhering to these theories, the role of financial reporting would be to monitor and control efficiency of performance (Pruzan, 1998). However, agency theory and the classical theory have been critiqued for their exclusive focus on the shareholder. To achieve greater transparency and in alleviating the legitimacy gap that exist between the company and its stakeholders, traditional financial control needs to be supplemented by value-based management (Pruzan, 1998). Value-based management seeks to achieve legitimacy and accountability through corporate social and ethical responsibility for long-term survival. A shift from an agency to a stewardship role of accounting is required to promote accountability. In protecting public interest, ethical values and integrity are paramount to the accountancy profession (Sama and Shoaf, 2008).

In moving to a principle-based approach in determining the substance of transactions, the use of judgement becomes imminent. In order to produce high-quality reports, it is important for professional accountants to uphold core values of integrity, reliability, independence and accountability ( Kranacher, 2009). The accounting profession needs to be a “moral community” that continuously strives to make ethics as part of the culture that undermines the conduct of its members ( Cowton, 2009). The culture of this moral community is to maintain credibility in self-regulation. The accounting profession needs to be seen more than just being a qualification body or viewing members merely as customers. Ethical values such as honesty, integrity, duty of care to others and fairness are also becoming increasingly important in exercising stewardship as accountants engage in "corporate social responsibility and sustainability" issues (Russell and Stone, 2002; Russell, 2001).
In the short term, the exercise of principles can be vague and subjective. Upholding ethical values may also come at a cost. Whistleblowers may face retaliation or not be taken seriously for the exercise of their moral convictions (Hunt, 2010; Elias, 2008). Subjectivity in judgement may rationalize earnings management practices that challenge the accounting profession (Jackling et al. , 2007). Individual attitudes of public accountants have been found to moderate the relationship between their subjective norms (beliefs) and ethical decision-making intentions (Buchan, 2005). The absence of moral leadership by accounting professionals may also have contributed to the complacency in internal control and lack of corporate governance observed in high-profile financial scandals (Ferrell and Ferrell, 2011).

The Endeavors of a CPA’s Life
Every day the accountants are facing issues that rooted from their selected profession and one of which is the accounting malpractice. Accounting malpractice is defined as occurrence where a professional accountant improperly executes the duties and responsibilities of being a practitioner in accounting (Davisinjurylawfirm.com, 2014).
Accounting misconduct comes in variety of shapes and sizes such as, fraudulent financial reporting, falsification of records, fraud and negligence in following the general accepted accounting principles and practices. But, it has a one universal component which is the intentional underlying action that results in a signiificant or material mistatement of the financial statements (Mintz and Morris, 2008: p. 150).
In the Statement on Auditing Standards No. 99 of AICPA (2005), it defines the fraudulent financial reporting as “the intentional misstatements or omissions of amounts or disclosures in financial statements designed to deceive financial statement users where the effect causes the financial statements not to be presented, in all material respects in confirmity with GAAP”.
Situations may arise where accountants are expected to assist the enterprise accomplish certain financial outcomes. In most cases, the action taken by CPA may jeopardize the compliance with the accounting and financial reporting standards.Therefore, the action done by a CPA will be considered as accounting malfeasance (Jui and Wong, 2013).
Accountants employed in management level whether in commercial or government sector may encounter problems such as management and peer pressure to perform according to unethical practices in the organization (The CPA Journal, 1995).
The reasons for the deception are countless and some of them are identified in the SAS No. 9 of AICPA (2005) as part of “the fraud triangle” namely incentive/pressure to commit fraud, opportunity to commit fraud and rationalization of the fraud.
Incentive/pressures to commit fraud is a typical reason caused by internal budget of pressures or financial earning expectations that are unfortunately not being met. The opportunity to commit fraud is connected to the incentives to commit fraud in the sense that CPAs can take this into their advantage to carry out the deception.This occurs when top executives will have an ineffective internal control. And last part of the fraud triangle is the rationalizatin of the fraud. It is rare for the perpetrators of the deception rationalize their actions after the fraud has been unraveled because most of them are in denial (Mintz and Morris, 2008: p. 152).
Ethical dilemmas exist when there is no apparent peculiarity between right and wrong or when there is conflicting roles or interest. The most frequently ethical problems faced by accountants according to The CPA Journal (1995) were conflict of interest, client proposals to manipulate the financial statements and client proposals for tax evasion.
Beets and Killough (1990) attempted to measure the risk associated with code violations. The risk that a violator faces is composed of three separate risks: the risk the violation will be detected, the risk that it will in turn bereported and finally the risk that a sanction will be imposed.As part of their study they surveyed accountants,presenting them with fifteen scenarios of potential code violations. In only seventy-five percent (75%) of the cases were the violations correctly identified by the CPAs.
In 1997, an audit standard for accountants was enacted which is the “Consideration of Fraud in the Financial Statements Audit”. This aims to prognosticate and detect fraud that causes the material to misstate in the financial statement (AICPA.org, 2012).
With the new benchmark promulgated, without fail almost all cases wherein company bears fraud, the CPAs are sued because of failure to detect hoax in the financial statements (Summerford, 2013). Even if the accountants has done an excellent job, accountants can expect to get sued for malfeasance when business clients who run into a violation of the law and face fraud charges which were discovered at their businesses (Cohn, 2013). Thus, accountants are legally obliged not to perpetrate negligence and especially fraud (Davis, 2014). Guney and Bozkurt (2012) cited in their work the reasons why the accountants behave unethically at work namely: passion to earn more money, moral weakness and lack of ethical lessons about the profession. Occupational stress is the reason found by Ozkan and Ozdevecioglu (2012) in their study about declining life satisfaction of CPA. In which Aktas et. Al (1992) defined the occupational stress as the adaptive reaction to external conditions that causes physical, psychological and behavioral irregularities which makes them vulnerable to exhaustion. The above statement was further discussed by Yildirum (2008) in which he tried to determine the professional stress of accountants undergoing ethical predicament. According to the findings, it was ascertained that stress levels of accountants are considerably high.
Kutlu (2008) examined the reasons why member of the accounting profession in cities of Kars and Erzurum are in ethical dilemma by taking into account the individual and environmental characteristics. According to the results, the first one among these reasons is the concern for losing clients.

Balancing Figure: How CPAs weigh things over
Accountants constantly stumble upon ethical predicament regardless of industry they belong. However, they must be vigilant enough to diminish the chance of external forces manipulating financial records which could lead to both ethical and criminal violations (Lister, 2014).
Clearly quoted by Calundan (2014) in his article, “Keep in mind that you (accountants) are bound by the code of the ethics…and you should be doing away anything that will discredit the profession”. He emphasized that as a CPA, they are here to provide professional services which primarily considers the public interest and violations of such code might put them in imprisonment.
In the light of this, both Linsmeier and Saudaragan were still optimistic even in the crisis during the fall of Enron and Worldcom. Linsmeier (2002) emphasizes that ethical dilemmas are challenges that can be looked at as a problem and a opportunity. This was supported by Saudaragan (2002) which states that these problems will help motivate them to move from traditional accounting approach to an accounting education that focuses not only on accounting technicalities but on moral aspect as well.
According to the recommendation stated in the The CPA Journal (1995), ethical education would help accountants to grasp a broader view of business and professional ethics and to develop adequate ethical decision making process through the study of the ethical theories and simulated practice in managing ethical problems.

Chapter 3

METHODOLOGY This phenomenological study concentrates on the ups and downs of Accountants. It discusses with what issues they’re facing with regards to their profession and how they’ve all surpassed it. Research Design
The present study will utilize the qualitative method of research. Qualitative approach contributes to the process of constructing research knowledge as researchers’ observe, interview, record, describe, interpret and appraise settings as they are (Eisner 1991: 145). Its data comes from a group of participants who has a deep understanding of a specific organization or event. A phenomenological approach will best suit for our study for it tackles the experiences of an individual. As stated by Patton (1990), phenomenological study is one that focuses on descriptions on what people experience and how it is that they experience what they experience. Phenomenological inquiry describes about the commonalities between the respondents as they experience a phenomenon, in our study, it is the ethical issues faced by accountants. The basic purpose of phenomenology is to extract the very essence of the shared experience (a “grasp of the very nature of the thing”, Van Manen, 1990, p. 177). In analyzing a phenomenon, it has to be viewed into two perspectives: from the people who went through the phenomenon, and from us, researchers, who have great interest in the phenomenon. Although it seems to be impossible to separate researchers’ personal views and interpretation, it is really necessary to be aware of personal opinions being infused with the respondent’s answers in interpreting the data. Husserl’s (1992) statement “we can only know what we experience”, serves as a reminder for us, researchers, to be balanced between subjectivity and objectivity. In order to avoid bias, Patton (1990) enumerates the steps to get the pure essence: commonalities on the human experiences. It comprises of epoche, phenomenological reduction, bracketing, textural portrayal of each theme and structural synthesis.

Role of the Researcher

The preparation of this study will be conducted by the primary researchers (MJJ) through the active leadership of M. Dayon. Including in his role are disseminating information to his co-researcher, distributing tasks, etc., and most of all providing encouragement. On the other hand, J. Eyana and J. Tano, will also diligently take their part. The focus group discussion and in depth interview will be facilitated by the authors of this study (MJJ). Field notes will be taken by J. Eyana, questions that will be raise in the discussion were developed by M. Dayon and video recording will be facilitated by J. Tano.

Research Participants/Informants The participants of this study are Certified Public Accountants from different field of practice. Majority will be inhabited by those who are in academe who also happened to divulge information about their experiences in different sectors where they previously came from. Among those non-probability sampling techniques, this study will use the purposive sampling. Purposive sampling, according to Oliver, P. (2006) is a form of non-probability sampling in which decisions concerning the individuals to be included in the sample are taken by the researcher, based upon a variety of criteria which may include specialist knowledge of the research issue, or capacity and willingness to participate in the research. Raagas (2010) proposed that a purposive sampling of five to twenty five individuals will be used in the phenomenological study. In our study we will be interviewing 13 CPAs in the process. In a qualitative research, questions have been raised as to the number of respondents to be used. Unlike in a quantitative research wherein statistical formula is used in order to come up with a minimum number of participants, a qualitative research does not have any rule as to its number. Data collection may stop at 10, 20 or 50 respondents. However, as stated in the SAGE encyclopedia of Qualitative Research Methods (2008), the number of respondents required is in accordance with the type of qualitative approach used (e.g. 10 for phenomenology, 20-30 for grounded theory). Purposive sampling will fit in our study since we are going to dig on particular characteristics of our respondents, which will answer the research questions. The participants will be composed of those CPAs seasoned by time which is at least 3 years in practice. The target key informants will be divided into two, the focus group discussion and the in depth interview. As stated by Dornyei (2007), the size of the focus group ranges between 6-10 (sometimes 12) people. Fewer than six people would limit the potential of the ‘collective wisdom’ whereas too large a size makes it difficult for everyone to participate. In composing a focus group study, there are two key technical questions to observe (a) whether to have homogenous or heterogeneous people in a group; and (b) how many groups to have. In this study, we’ll only be having one group for the FGD. The respondents will be prorated as, eight CPAs for the focus group discussion and five CPAs for the in depth interview.

Data Collection

One of the techniques that will be used in gathering the data is interviews. As stated by Patton (1990) the purpose of interviewing specifically as “to find out what is in and on someone else’s mind. The interviews will be composing of focus group discussion and in depth interview. Works of other researcher related in our study will also be used for the basis of this study. Data collection methods will help the researchers to gather more information, first hand (interview) and to review related study as well. Target participants will be given an invitation, it is on their own free will if they will to accept it or not. They will not be force to. As they accepted the request they are already informed of the date and place of the interview as it is already being stated on the invitation. The meeting will commence with pleasantries and greetings to create a comfortable atmosphere inside the room. Being able to be at ease with each other will be helpful in the long run as the interview starts. Introduction will be made as soon as everybody arrives. The objective or the purpose of the said interview will be given as not to confuse the respondents. As the interview proper begins, tape recording will be used in order to analyze the data on the later part. This will be an important tool because there will be a lot of things to be discussed by the researcher and tape recording will be used to revive what has been forgotten. We will encourage full cooperation from them as well as their active participation. We will motivate them to share their experiences as Accountants. Respondents will be answering questions prepared by the researchers. They are going to answer these with regards to the things they have experienced as they were just starting and as they become seasoned by time, most of the questions will be on the ethical side of their profession. The researcher will keenly listen, take notes, and guide the conversation. Field notes will also be of importance. It will serve as future reference in data triangulation. After they have answered the questions, their answers will be summarized by the interviewer in order to obtain conformity from them. Participants may add on to, if there seem to be lacking in the researchers’ perceptiveness of his answers. Researcher will also throw some follow up questions to get the clarification. When the interviewers finally have all the information needed, the interview ceases. The meeting will end with thank you greeting for accepting the said interview. This will last for a couple of minutes.

Data Analysis

As stated by Creswell (1998) phenomenological data analysis proceeds through the methodology of reduction, the analysis of specific statement and themes and search for all possible meanings. Researcher need not to be bias and single minded in analyzing the data. Moustakas’ (1994) ideas are good stepping stones to balance the subjectivity and objectivity of the ideas. Moustakas (1994) pointed out that “establishing the truth of things” begins with the perception of the researchers. The study will use Moustakas’ (1994) approach in analyzing the data. We will adopt its major procedural steps in the process. We will begin it by determining if the research problem will be best examined using phenomenological approach. In phenomenological approach the concern would be on “how the everyday, inter-subjective world is constituted” (Schwandth, 2000) in view of the participants. Since we will be into studying the experiences of the accountants, this will really fit to phenomenological approach. Then a phenomenon of interest to study will be identified. In our study it will be the ups and downs of the accountants, the issues they are facing and how they are able to deal with it. This will be followed by recognizing the broad philosophical assumptions of phenomenology. Creswell explain the different philosophical assumptions. First is the ontological (the nature of the reality). Seeing things as what they really are will open up the minds of the researchers. As this intrigues them, they will find evidence for this reality through the perspectives and experiencesof those who lived the phenomenon. Second is the epistemological. It means that how the researchers know what they know. The researcher will get to participants for information with regards to the topic being studied. The third one is axiological (the role of values in research). Researchers’ value will be known a well as their biases of the information gathered. And lastly, the methodology. The methods used in the process of research will be laid. After that, data will be collected from individuals who have experienced the phenomenon through focus group discussion and in depth interviews. Next to it will be the phenomenological data analysis: interviewing, highlighting “significant statements”, understanding how the participants experienced the phenomenon and developing clusters of meaning from these significant statements into themes. The significant statements and themes are then used to write a description of what the participants experienced (textural description).
Lastly, from the structural and textural descriptions, the researcher will then writes a composite description that presents the “essence” of the phenomenon, called the essential, invariant structure (or essence).

Trustworthiness and Credibility In writing a qualitative research, researchers need to work on the issues faced by their respondents. As we will do these, we have to be aware and give thought of the steps to ensure criteria for good research practices. Consideration on trustworthiness and credibility will matter most. The concepts of validity and reliability are new to the area of qualitative research. Instead of focusing on validity and reliability, qualitative researchers replace it with data trustworthiness. The trustworthiness of qualitative study is often questioned by positivists, perhaps because their concepts of validity and reliability cannot be addressed in the same way a naturalistic work (Shenton, A). In order to ensure the trustworthiness of a qualitative study, Guba, E. and Lincoln, advocated four criteria, which we will be used in this study. These criteria are Credibility, Transferability, Dependability, and Confirmability. Wallendorf, M. and Belk, R. (1989) add a fifth criterion that corresponds to the additional question about the findings based on false information from informants which is Integrity. It will also form part of our study.
Credibility means the result of the research are believable from the perspective of the participant in the research. Credibility is not after on the volume of data gathered but on the content of the information at hand. Credibility contributes to a belief in trustworthiness of data through the following attributes (De Vault, 2015): prolonged engagement; persistent observation; triangulation; referential adequacy; peer debriefing; and member checks. The use these techniques enable researchers and informants of naturalistic inquiry to evaluate the completeness of the research procedures used. Triangulation and member checks are the most commonly used for checking credibility, which we will also be using to address credibility. Wallendorf, M. and Belk, R. (1989) enumerate different triangulation: Triangulation across sources and methods, and triangulation across researchers.
Triangulation across sources requires the researcher to develop evidence for an interpretation from several types of informants as the purposive sampling plan unfolds. Triangulation across methods requires the researcher to test an interpretation in data gathered using several different methods (Wallendorf, M. and Belk, R. 1989). Triangulation across sources does not restrict to informants sources alone. Other sources such as materials from art and literature serves as an additional information. These sources can give a different perspective that informants may not be able to present. In order to properly conduct triangulation across sources, we will diligently record detailed field notes. Detailed field notes allow the researcher to check for lack of agreement in a systematic and non-defensive manner at a later point in time when details of informant interactions may not be accessible to memory (Wyer and Srull 1980).
Triangulation involves the use of different methods, especially observation, focus groups and individual interviews, which form the major data collection strategies for much qualitative research (Shenton, A. 2004). In conducting focus group discussion and individual interviews, we will be using audio recorder, in order to review the discussion. Belk, Sherry, and Wallendorf (1998) still consider, audio recording, video recording a photography to be a very good method in enhancing trustworthiness which Hirschman opposes to.
Triangulation across researcher is applicable only to team research. It can add credibility of a research in two ways: by permitting a check on the reporting completeness and accuracy of each researcher through comparison of multiple sets of field notes covering the same interaction and by enabling the consideration of an interpretation from the vantage of several different researchers (Wallendorf, M. and Belk, R. 1989). And the last technique that we’ll be using is the member checking. Member checking allows clarity in the interpretation. Informally, member check are done orally, wherein the researcher keeps on checking whether his or her understanding of the participant’s answer conform to his’ or hers.
Transferability refers to the degree in which the result may be transferred from one context to another. Meriam (1998) states that the external validity is concerned with the extent to which the findings of one study can be applied to other situations. Erlandson et. Al (1993) connotes that, naturalistic inquirers believe that, in practices, even conventional generalizability is never possible as all observation is defined by the specific context in which they occur. Stake and Denscombe (1994) , oppose to this opinion, they propose that, each case may be unique, it is also an example within a broader group and, as a result, the prospect of transferability should not be immediately rejected.Thick description is a key to transferability. It is necessary for us researchers to furnished detailed description about the research. The field notes on the setting, participants and observation will be used to give a rich description (Lofland et.al 2006). This will enable readers to compare the phenomenon of our study in the situation they are in.
Dependability seems more related to reliability. Dependability certifies that the research findings are consistent and could be repeated. Lincoln and Guba’s (1985) question: “How can one determine whether the finding of an inquiry would be repeated if the inquiry were replicated with the same (or similar) subjects (respondents) in the same (or similar) context? In this question it seems that there is this unchanging person and contexts. People and contexts gradually change. This argument appears to disregard the dependability of the findings, which are not going to happen. Dependability now as pointed out by Wallendorf and Belk (1989) is about time and to change process rather than to stability and similarity as reliability issues are in positivist inquiry. They have also enumerated the techniques on how to assess dependability. These techniques are dependability audit (recommended by Lincoln and Guba) in which raw materials and resulting inferences are given to an external auditor. And the other two are the observation over time and explanation of change. In this technique, researcher revisits the site in which he conducted the research in order to assess if there are changes that affects the phenomenon being studied. These techniques being cited by different authors may not be applicable in our study since we are given only short period of time. But this does not mean that our study will not be dependable. We will still apply the traditional way to address dependability which is to be transparent in the methods that we are using, report it in details so that future researcher may able to get idea from this study.
Confirmability refers to the extent on which the results could be confirmed or corroborated by others. Lincoln and Guba (1985, p. 290) cited another question for confirmability, “ How can one establish the degree to which the findings of an inquiry are determine by the subject (respondents) and conditions of the inquiry and not by the biases, motivations, interests, or perspectives of the inquirer?” Miles and Hoberman (1994) consider that a key criterion for confirmability is the extent to which the researcher admits his or her own predisposition. There are different techniques suggested by different authors. Included in here are the triangulation across researchers and methods, which we will be using; reflexive journal, and auditing. Member checking will also form part on testing confirmability in our study. Triangulation across researcher is by collecting data by multiple members of research team. Since we will be conducting interview, we researchers may do triangulation. We will be having our own field notes, separately, before sharing or discussing it to the rest of the researcher. Since researchers will unlikely to have the same biases, the comparison of this field notes will serve as a confirmation of observation , finding, and interpretation, and to learn about others biases as differences unfolds.
Triangulation over data collection will also be useful in establishing confirmability in our study. This will be in the use of video and audio recordings as being mentioned earlier. Some authors found this record to be useful in judging differences in researchers’ field notes. Focus group discussion and in depth interview will also form part of this triangulation. O’ Guinn and Faber (1987) also used their observation and depth and group interviews in their qualitative findings. Another technique that other authors are using is the reflexive journals. Journals are reflexive documents kept by researchers in order to reflect on, tentatively interpret, and plan data collection (Wallendorf and Belk). Werner and Schoepfle (1987) mention on how to assess oneself and how one may be affecting the information being gathered as trying to learn about one’s “personal equation.”In this context the journal will help us, researcher to gauge us onto what extent the information we have gathered influences our personal opinions and biases about the phenomenon.
The confirmability audit is also recommended method. The qualitative research, auditor analyzes the similarity between the data and report. The data is consisting of field notes, journals, photographs, audio tapes, video tapes, artifacts and records of the analytical process. The auditor examines if the researcher will uses the data to come up with a result or just making inference that the data cannot fully support.
Member checking will also be used in our study to measure confirmability. This will be done by summarizing the respondents’ answer and ask them if it is the idea or the message that they want us to comprehend.
The fifth and the last method to assess trustworthiness and credibility which we also ought to use is integrity. Integrity according to concise English is the quality of having strong moral principle; the condition of being unified or sound in construction. In research integrity according to Watts (2008) integrity is honesty and probity within the conduct of qualitative research and underpins ethical practice in all the activities that comprise data collection and analysis. It is characterized by openness and wholeness on the part of the researcher and can be understood as a type of ‘straightforwardness’ or ‘moral uprightness’ that rejects intentional duplicity and deceit. There are certain points that lead to the lack of integrity in naturalistic and other research. It is when conflict between researcher and informant arises. It also arises when informants fear the researcher (Wallendorf and Belk 1989). It happens when the topic to be discussed is socially undesirable or illegal. Another is when the respondents dislike the researcher or simply try to present themselves in a more attractive ways. Douglas, J. (1976) adds up four resulting problem: these are misinformation, evasions, lies, and fronts. Each of these problems creates a more deceptive result. However, he specifies that: Sure people tell the truth most of the time in their everyday lives, at least as they see it. How often do people bother to lie about the weather or where the salt is? But the outsider trying to find out what the truth is about the things that count most to people, such as money and sex, must look upon all their accounts about these things as suspicious until proven otherwise (Douglas, 1976 55-56). We will include integrity as a method of gauging trustworthiness it’s because as we tackle the ups and downs of accountants, we are also going to ask them tough questions which might be a bit confidential to them. The topic may include things such as malpractices in their field work and anomalies (if there is) which stained their ethical responsibility. This query requires an honest and open answer from the respondents. Hence, integrity will not only come from the researcher alone but we should also put consideration to the people who experience the said phenomena. As what the old saying say, it takes two to tango.
Aside from the strategy of skepticism, Dean and Whyte (1958) points out other ways of assessing and escalating integrity in qualitative research. These methods comprises of: (1) Prolonged engagement and construction of rapport and trust; (2) Triangulation of sources, methods, and researchers; (3) good interviewing technique; (4) Safeguarding informant identity; and (5) Researcher self- analysis and introspection. We will use these strategies for integrity assessment.
Prolonged engagement and construction of rapport and trust tends to elevate the conflict between the researchers to a cooperation phase. Suspicious informants often learned to trust the researcher who shows sustained interests and cultivates familiarity and intimacy with them and with others (Wallendorf, 1987). Prolonged engagement to respondents will create a good atmosphere among them. Respondents will likely to impart his or her experiences without hesitation because of the trust that he has to the researchers. In contrast, we researcher should know when something feels right and when something feels wrong in order not to provoke the respondents.
Triangulation across sources, methods and researchers will also be used. These methods have been excessively in the previous section.
Good interviewing technique will also be an aid for this. Good interviewing will prevent misinformation and if it’s there it can be spotted. Becker (1970) recommended an interviewing technique of planned naiveté in which the researcher plays ignorant in order to get the informant to explain things concretely and explicitly. Though this interviewing technique wills on cascading information it must not be use intensively because researcher may appear foolish and ignorant about the concepts in front of the respondents.
Respondents’ identities will be safeguarded in this study. It will be done so because sensitive issues may be raise that might affect their career if being revealed. This procedure will make the respondents more open with their ideas. Researcher self-analysis and introspection states that, researcher should also assess their selves. Better findings of the phenomena will become great if we completely understand ourselves. As a matter of fact, Werner and Schoepfle (1987) advise that researchers should undergo psychoanalysis
These methods will be used to effectively implement trustworthiness and credibility in our study. We will be utilizing these in the best way that we can.

Ethical Consideration We highly respect our respondents since they will be the key contributor to our research. We will establish ethical consideration in conducting this study. We will make sure that they are not being coerced to participate. They will be informed about the study and will ask their permission to take part on it. During the interview, we will make sure also that they are not forced to share their experience instead they are to be encourage to tell what is ought to be said for the fulfillment of our research. Nothing more, nothing less.

Chapter 4

RESULTS

The purpose of this phenomenological study was to describe and understand the endeavors faced of the Certified Public Accountant. This study investigated also how these accountants dealt with their experiences and their acumen being on that predicament.
The following research questions were raised: * What are the experiences faced by the CPAs? * How CPAs handle ethical responsibility in the profession?
The participants answered the same sets of questions through Purposive sampling method as suggested by Oliver (2000). The meetings with the respondents were arranged during their free time since they have their own errands. Their experiences as an accountant, how they handle ethical responsibilities in the profession and their acumen being on that predicament give information to the study. When asked through the guide questions, each CPA describes detailed answers relating to each experience. The informants’ data were collected through in-depth interview with 5 informants and 8 respondents from Focus Group Discussion. The focus group discussion was conducted with 8 participants, both male and female. They are all Certified Public Accountant. Names of the participants were not mentioned for the purpose of confidentiality.
The focus group discussion was exciting because pool of shared thoughts and idea aroused. Participants’ answers connected with the other which leads to interaction. They described experiences and gave detailed and the most personal examples. All of the participants were responsive in answering the open-ended questions. At first, they are uncomfortable being sound and video recorded but as the interview goes on, they have overcome they anxiety about the recording. For the in-depth interview, it was conducted on the place where they work so that they can concentrate and still be on their comfort zone. On the other hand, the focus group discussion was held in an exclusive place. Some of the participants arrived on the time set whereas the others came late because they run for some errands. Since they will be interviewed by group, we waited for the others to come. We used DLSR camera and sound recorder along with our notebook for the field notes. Before the interview conducted, we let the respondents read and understand the informed consent. After the concerns and clarification and a quick introduction, the interview started.

Categorization of Data After the in-depth interview and the focus group discussion, the audio and video were transcribed, translated and analyzed. Three steps were taken during the data analysis namely: data reduction, data display and conclusion and verification. In data reduction, answers of the interviewee were transcribed, translated, group and organized without using any software. In the data display, findings were presented in a table shown as in Table 1 and 2. The presentation of data made used of three classifications. First classification is general which means at least 50% of the participants mentioned the item in their response during the interview. Second, typical means 25% to 49% mentioned the item and lastly the variant which means less than 25% mentioned the item. In the conclusion drawing and verification, preliminary thoughts and patterns were developed. To establish trustworthiness, we followed the discipline suggested by Guba and Lincoln (2000), in ensuring accuracy during the data collection which includes credibility, confirmability, transferability and dependability. As to credibility, we established it through member checking, peer debriefing and triangulation. We ferreted out data first by providing the participants a copy of transcripts of the interview and FGD proceedings. After they signified their approval by signing the participant’s verification form. In the peer debriefing, brainstorming together with colleagues as conducted for the categorization of the emergent themes. Difficult terminologies were given clearer and appropriate results. Lastly, the triangulation allows confidence for the conclusion of the study. Data gathered from related literature, respondents of in-depth and FGD confirms triangulation coming from varied resources. As to confirmability and dependability, we have an adviser through keeping records on how qualitative study conducted. This is to review what has been done and to consider alternative plan in verifying interpretations and assumptions.
As for transferability, sufficient information on the context was carried out on the result but not generalizing base in the information from the participants in the mentioned setting.
A study is trustworthy, if the reader of the research report judges it to be so, this makes the research worthwhile

SUMMARY OF THEMES
Table 1

Themes and Core Ideas on the Experiences
Faced by CPAs.

Major Themes | Frequency of Responses | Core Ideas | Pressures | General | The expectations of other people to you as a CPA and I felt pressured about it | | | Being with the Government before, I was able to encounter a situation where in my colleagues would tend to pressure me, letting me approve a transaction which are not supposed to be approved | | | Yes! Always. When they pressure me then they pay a lot. Because if they pressure you it means that you need to demand more. | | | It’s already been attach to the Accountants, wherever field you are, the pressure is there. | | | We were pressured by our clients when it comes to BIR requirements. | | Typical | Because of the overwhelming need, that is why they enter into something illegal | | | It is the worst thing that can happen to an accountant. We learn later that some accountants in business or banking sector are the ones making some scandalous act. | | | There are instances that those people in there are brought to the practice with no choice but to do that. | | Variant | It was more likely a bad experience like when you asked your clients about specific stuffs about their business. They will say that it is too personal and they feel like you are violating their privacy. | | | In Academe, my worst experience when I decided to fail one student in my subject and she drop all her subject in the second semester and I found her in the terminal selling egg and orange. | Regrets and Insecurities | General | No regrets, because I choose this profession and I choose the field. So before I choose this field of expertise I know already the circumstantial or those consequences. | | | I don’t have any regrets of becoming a CPA. However, my desire to become an accountant outweighs the reason not to become one. | | | Talking of insecurities, I’m so proud to say that I do not have that feeling in as far as my practice of profession is concerned because I know that from the start I’m not that competent but I would accept that competence can be developed overtime. | | | Definitely, I don’t have any regrets being a CPA because there is nothing to regret. | | | No, I am not yet contented because there are some goals I want to achieve with this profession. No I don’t have insecurities. | | | Professional insecurities, maybe if you are contented with what skills given to you by God so maybe you can overcome those insecurities. So far, there is no considered as insecurities in the profession. | | Typical | Yes, we have insecurities. | | | Yeah, that’s inherent to us | | | Yes, more on material things, but just what…had said, we’ll come to that stage someday | | Variant | But how you react and how you take the insecurities in your life make a difference, a motivational tool. Insecurities are also a reality check, on what you have and what others don’t have | | | The job is demanding but one thing good is that there are many opportunities, by its number you’ll probably don’t know what to choose. | | | Maturity. The more mature you are competent. You do not live just for the purpose of material things you go more in the emotion. | Sense of Contentment | General | No, I am not yet contented because there are some goals I want to achieve with this profession. | | | As of now in terms of contentment, so you need to aim more higher. So, so far I force myself not to be contented so that I will need to struggle more. | | | Even though I am now a professional, still I am not contented because I want to give more and learn more from our field of knowledge. | | Typical | If you are CPA you have to contented. | | | I’m very much contented with what I have achieved though I was not able to accumulate material. I would say that I am successful in my career as Certified Public Accountant. | | Variant | Because you love your job and your profession, everyday you are working as an account that will be considered as my best experience. | | | Being a teacher in Accounting for the last 33 years, I find it very fulfilling considering the fact that I was able to help young people in their quest of becoming future Accountants. | | | The job is demanding but one thing good is that there are many opportunities, by its number you’ll probably don’t know what to choose. | | | I work as Cooperative Examiner in the Bureau of Cooperatives under the Department of Agriculture before, I realized that I was able to help a number of people and organization especially in the rural areas and that I consider to be my best experience, being able to help less fortunate individuals. |

Table 2
Themes and Core Ideas on how CPAs Handle Ethical Responsibilities

Major Themes | Frequency of Responses | Core Ideas | Societal Contribution | General | As a quote says (walk your thought) so the standard etiquette given to each professionals for them to follow it and of course it is hard to promote such as standard if I myself cannot perform honesty and dignity. So therefore the best promotion of ethics once CPA performs his consent into action | | | To become an honest and good accountant that is how I exercise ethical responsibilities. | | | To prepare the financial reports in accordance to what is true and what is just. | | | It’s just very simple, if a CPA observe Code of Professional Ethics and if CPA is not materialistic, then rest assured that CPA’s would be morally and ethically upright in the exercise of his/her profession. | | | Ethical, I think every profession is a member of a moral and ethical member of the society because we are morally accountable and ethically responsible in every action that we perform in our profession. So that’s why whether you are a CPA or not you have a moral obligation and ethical standard to be followed in the society. | | Typical | The number one thing I would consider as my greatest contribution to the society is that I was able to help young students to achieve their dreams to become a Certified Public Accountant. | | | My greatest contribution is with regards to the keeping of the books and let my clients pay their taxes to the government on what is due. At the same time, we are also helping the government in achieving their goals. | | | My greatest contribution, I think is during the time that I’m in the Academe that is sharing my knowledge to the students, and now I have students that are already a CPA. | | Variant | Being through good example, that I follow most, because sometimes we cannot follow all of the provisions in the ethical standards but of course being a good example to the peer. | | | We can practice it by obtaining proper conduct in exercising our profession | | | You cannot promote something that you have not yet go through. So whatever your experiences are whether its good or bad, that is how to talk about if he has problem you have something to share | | | Sharing of ideas, experiences, sharing of criticism and advices. | The Purpose of the Code | General | For me, the code of professional ethics among CPAs very important to avoid conflicts among CPAs. It gives what the right thing to do and it is also a way to protect accounting profession | | | Code of ethics sets guidelines of our profession in how to act in a given circumstance or situation to protect welfare image to act the CPAs and the profession in the entire fair. | | | It is important because it will really guide the CPAs in the profession. If there is no code of ethics then they will just do anything illegal. | | | The code of professional ethics that is only applicable to CPA’s but also in other profession. That’s why every profession has different, has their own Code of Professional Ethics because the standards will dictate on how a certain CPA, or certain Public Practitioner acts in a manner that is acceptable. | | Variant | Well, that is good because that will be the standard of every CPA to do an unethical work. | | | It is good that there is a Code of Professional Ethics for CPA because if there is none then there will be greater chaos. Some will be having a greater retainership fee as an abuse. | | | It is important because, like what happened to Enron, they have strengthened and emphasized to every accountant the control of Code of Ethics in the profession. | The Balance between Adherence and Consideration | General | In as far as my experience as an Accountant in the Government, I experience some pressures but then I realize that if we really are firm in our principles and we adhere to the Code of Professional Ethics, people wouldn’t force us to do something which we do not like. | | | By conforming with the standards. For example, the standard state that you are prohibited to audit this type of client because you don’t have competence to do so then, do not accept the client | | | That is because I bound to follow the ethical standards that do not engage into client which lack integrity | | Typical | It’s not done all the time. Its case to case basis only. | | | I can’t really judge them of doing it, cause if you are in their position you cannot just say that this is the right thing to do because if you were in their position, its difficult. You can’t just say that its in the code of ethics, that’s wrong so don’t do that but if you are on the shoes of that person, it’s really hard | | | Sometimes, you are in the dilemma whether to follow the ethical standards. So in that case, you need to be considerate, so your decision must be base on the situation but if possible that will not compromise your profession as a CPA. | | | Maybe, stick to the rule and sometimes you need to have some considerations to the rule that your profession will not be compromise. | | Variant | Even if we could not follow it strictly, at least we have this ethics. | | | We are caught between what is right and what is good for our clients, then most likely, what is good for them prevail. | | | It falls that it’s not about ethics anymore, you just do it because you need to do it. | | | Sometimes the outcome is not your choice, but good thing that during the process you raise what is right so you have them aware. | Adjustments versus Ethical Principle | General | Some requests of clients do not necessarily mean altering or manipulating financial data. It’s just that sometimes they would request to make some adjustments in a way that the financial data would appear to be impressive. | | | So if there is alteration which is not considered as material then in my opinion that is considered as considerable. | | | Though we’re adjusting the grades it’s not because we wanted to fail the students but we are thinking that as much as possible they will pass, but there’s limitation to that. | | | I will choose my ethical principle because many accountants would tend to follow the client’s requests. But, on my part I can’t do it. | | | Yes, for example in the computation of grades, sometimes even if how hard we are not in the conformance with the ethical standard, for example we do adjustments, manipulation, sometimes it’s no longer computation but adjustments. | | Typical | Definitely no, because in our profession since in our college we are taught of the ideal so that we know in our studies that they teach to us do so we have to follow we don’t need to sacrifice our license of profession for that trial. | | | I would not do it because it might be used against me. If that happens, all of my hard work in studying just to pass the CPA board exam would come to nothing. | | | We will not do it because it is unethical. | | | So far, ethics has not yet compromised. | | Variant | I guess both are relevant in my decision making, we have no right to stiff. We also have considered client so as a profession or CPA I have to make way in order to meet both. To make both ends, although we cannot break the law, but we can bend it. | | | When you say moral, we have to be upright and ethical meaning we need having what you call ambulance chasing. | | | So I think both because in reality, I am in the Academe for 10 years so I know the ethical standards. I know what is written in the book. And I’m also practicing CPA therefore I know what is written in the book and what is the actual. |

* What are the experiences faced by the CPAs?
The following are the accounts of the experiences raised by Certified Public Accountants as they faced the ups and downs of their chosen profession.

Pressures The accountants asserted that as one of the experiences they faced, they always experiencing pressures both internal and external. CPAs admitted that it was part of their job whether they are handling clients, the top management and even in their students for those who are in the Academe in particular.
One of the respondents in FGD expressed:
“It’s already been attach to the Accountants, wherever field you are, the pressure is there” (FGD_5)

The other respondent who was in In-depth interview shared:
“In Academe my worst experience when I decided to fail one student in my subject and she drop all her subject in the second semester and I found her in the terminal selling egg and orange.” (IDI_1)

There are different kinds of pressures that are being experience by the Accountants. One of these was mentioned in the The CPA Journal (1995), which states that accountants may encounter problems such as management and peer pressure that will induce them to perform unethical practices in the organization. Ethical dilemmas exist when there is no apparent peculiarity between right and wrong or when there is conflicting roles or interest. The most frequently ethical problems faced by accountants according to The CPA Journal (1995) were conflict of interest, client proposals to manipulate the financial statements and client proposals for tax evasion.

Regret and Insecurities The CPAs disclosed that as a professional, they don’t feel regretful but they have insecurities. The respondents expressed that there are insecurities even if you are already a professional. Furthermore, choosing Accountancy doesn’t make them feel regretful at all and asserted that insecurities are inherent.
Two of the respondents articulated: “I don’t have any regrets of becoming a CPA. However, my desire to become an accountant outweighs the reason not to become one.” (IDI_2) “Professional insecurities, maybe if you are contented with what skills given to you by God so maybe you can overcome those insecurities.” (IDI_3)

According to Seuss (2015), “You have brains in your head. You have feet in your shoes. You can steer yourself in any direction you choose. You're on your own, and you know what you know. And you are the guy who'll decide where to go.” The quote says that the accountants have the capability to choose their decisions in result there will be no regrets. This statement has been supported by Coleman (2015), that if there will be plans of her desires, then there will be no regrets at all.
Emotional security is the balance in the people’s emotional well-being. But the opposite of this is the emotional insecurities or in simple terms it is called insecurities. It is a feeling of unease produce by discerning oneself inferior among others. (Wikipedia.com, 2015). Maslow (1942) construe an insecure person who perceives the world as a threatening jungle and most human beings as dangerous and selfish; feels a rejected and isolated person, anxious and hostile; is generally pessimistic and unhappy; shows signs of tension and conflict, tends to turn inward; is troubled by guilt-feelings, has one or another disturbance of self-esteem; tends to be neurotic; and is generally selfish and egocentric. Insecurity can be overcome. It takes time, patience and a gradual realization that one's own worth is purely a matter of perspective, and so while it may be true that insecurity can follow from concerns relating to objective reality, this is by no means a necessity, but more a tendency.

Sense of Contentment Even though the CPAs are professionals and some of them achieve their own personal goals, they are still discontented. The sense of contentment has not yet drawn them to stop accomplishing their personal objectives. Asserted by two of the respondents in FGD:
“Human as we are, that’s given, we have the feeling of being unsatisfied but we are happy on what we have now.” (FGD_1)
“In the hierarchy of needs, were not yet on the self- actualization.” (FGD_1)
In in-depth interview, one of the respondents expressed:
“In our profession, you need to explore more. As of now in terms of contentment, so you need to aim more higher. So, so far I force myself not to be contented so that I will need to struggle more.” (IDI_3)
In Merriam Dictionary (2015) defines contentment as “the state of being mentally or emotionally satisfied with things as they are.” Today it is rare that we find anyone who is truly content with his or her condition in life. The Bible has a great deal to say about contentment—being satisfied with what we have, who we are, and where we’re going. Jesus said, “Therefore I tell you, do not worry about your life, what you will eat or drink; or about your body, what you will wear. Is not life more important than food, and the body more important than clothes?” (Matthew 6:25). In essence, the bible is telling us to be content with what we have. Moreover, Jesus has given us a direct command not to worry about the things of this world. In addition, if sense of contentment is not yet achieve then that will be the motivating factor to do more.

* How CPAs handle ethical responsibility in the profession?
The accountants have undeniably experienced endeavors in the accountancy profession. These experiences have brought accountants momentous brunt in their personal life and professional career. With diverse and peculiar experiences these CPAs have faced, they have developed their professional principles and standards.

Societal Contribution Endeavors brought by different factors lead accountants to embrace the profession even more which further advanced to their societal contribution.
Two of the respondents enunciated:
“As a quote says (walk your thought) so the standard etiquette given to each professionals for them to follow it and of course it is hard to promote such as standard if I myself cannot perform honesty and dignity. So therefore, the best promotion of ethics once CPA performs his consent into action.” (FGD_1)

“Ethical, I think every profession is a member of a moral and ethical member of the society because we are morally accountable and ethically responsible in every action that we perform in our profession. So that’s why whether you are a CPA or not you have a moral obligation and ethical standard to be followed in the society.” (IDI_4)

The Purpose of the Code The Code of Professional Ethics has served its purpose to the professional accountants. This code provides a benchmark on what is right and ethical before the CPA performs certain action in order to protect the image of accounting profession.
One of the respondents sincerely expressed:
“Code of ethics sets guidelines of our profession in how to act in a given circumstance or situation to protect welfare image to act the CPAs and the profession in the entire fair.” (IDI_2) Code of Ethics for Professional Accountants is a distinguishing mark of the accountancy profession is its acceptance of the responsibility to act in the public interest. Therefore, a professional accountant’s’ responsibility is not exclusively to satisfy the needs of an individual client or employer. In acting in the public interest a professional accountant should observe and comply with the ethical requirements of this Code. (IFAC. Org, 2006).
A code of ethics is a vital document for any business, as breaches of ethics can land companies in serious trouble with consumers, other organizations or government authorities. Creating a code of ethics makes decision-making easier at all levels of an organization by reducing ambiguity and considerations of individual perspectives in ethical standards. A code of ethics guides all managerial decisions, creating a common framework upon which all decisions are founded. This can help to create a cohesive understanding of the boundaries within an organization and the standards set for interacting with external stakeholders. A formal, well-communicated code of ethics can also help to protect a company's reputation and legal standing in the event of a breach of ethics by an individual employee. (Ingram, 2015)
The Balance between Adherence and Consideration Adherence to the Code of Professional Ethics has set the CPAs on the right track as they deal with their daily endeavors brought by the profession. They learned to adhere to the established standards but with the right consideration at hand.
A participant in FGD stressed:
“With regards to ethical responsibility, I must say that nobody is perfect, so I could not say that 100% I was able to observe the Code of Professional Ethics for Accountants. But in my own perception, I could say that I really tried my best to observe the Code of Professional Ethics for us Certified Public Accountants.” (FGD_1)

Adjustments versus Ethical Principle Accountants asserted that, because of the certain predicament, they need to adjust to their clients and bosses. This means adjusting whatever the client or the boss wants even if it is in the financial statements. However, these adjustments may be contradictory to their own ethical principle.
One of the respondents expressed:
“Some requests of clients do not necessarily mean altering or manipulating financial data. It’s just that sometimes they would request to make some adjustments in a way that the financial data would appear to be impressive. Now in that case, there is what we called flexibility in the discharge of our function, but not to the extent that we have to change the scenario for the adjustment to be made would result to financial statement not fairly presented. In other words, we apply or adapt flexibility not to the extent that a crime will be committed in a way that the financial statements would result to a disadvantage to the users.” (IDI_3)

Chapter 5

DISCUSSION AND CONCLUSION

This chapter presents the discussion of the results of the study as well as the conclusions and the impact for the practice for future research anchored on the developed themes during data analysis. The experiences faced by the accountants and how they handle ethical responsibilities are the focus of this qualitative investigation. The objective of phenomenological study is to understand, define and document the experiences and acumen of the Certified Public Accountants in their profession. Moreover, the investigation aims not only to account the experiences of these CPAs but also to have a deeper analysis of their feelings, emotions, struggles, insights, triumphs and their advices for the future accountants who are accounting students at the moment over their endeavors attached to their chosen profession. As stated by Patton (1990), phenomenological study is one that focuses on descriptions on what people experience and how it is that they experience what they experience. Phenomenological inquiry describes about the commonalities between the respondents as they experience a phenomenon, in our study, it is the ethical issues faced by accountants. The basic purpose of phenomenology is to extract the very essence of the shared experience a “grasp of the very nature of the thing”, van Manen, 1990, p. 177). In an interview, the researcher becomes the learner and the respondents were considered the expert. Thus, in the discussion, the participants play the most important role in the discussion.
The respondents of this study were the Certified Public Accountants from Tagum City, Davao del Norte and who were engaging in different sectors of their field of expertise namely: Academe, Public Practice, Commerce and Industry, Private and Government. The participants through an in-depth interview and Focus Group Discussion shared their experiences and endeavors in the Accountancy profession. In order that the participants will not have apprehension and reservation in sharing their personal experiences, we explained to them the confidentiality and the ethics in the conduct of investigation.
During the interview, for us researchers, we somehow felt the awkwardness in asking direct and the most personal questions to our respondents since we were hit with jitters as this is our first time. But as time goes by, we have built rapport to the respondents and we managed to carry out our study. On the side of the coin, the respondents also felt uneasy and there was a sense of reservation in their answers as we begin. However, the respondents were able to feel the seriousness and weight of the study, since they were focus of this, and finally they have disclosed their personal experiences which make this easy on the part of the researchers to deliver spontaneous conversation.

What are the experiences faced by the CPAs?
Accountants experience a lot of things along their journey in their profession which they consider the ups and downs of their career. These experiences are the developed themes for the purpose of this study. The accountants asserted that they felt pressured every time both internal and external. They expressed that these pressures are part of their job from the moment they have chosen Accountancy as their profession. From the expectations of other people to the pressures obtained from the top management of their organization and down to the clients, these sort of experiences were inevitable most specially you are handling different types of people who has the same purpose of hiring and paying accountants – financial matters.
Some of them were not able to handle the weight of their responsibilities and pressures, which somehow led to a greater downfall in their professional career particularly those who are involve in accounting malpractice and corporate accounting scandals. Pressures were able to withstand their ethical principles and breach the set Code of ethics. In the academe, accounting teachers are not bombarded by pressure from clients but that doesn’t mean they don’t have one. Still, they were caught on the pressure to mold and produce future competent accountants. Hence, giving them a lot of things to consider namely: the grades, students’ attitude and behavior, which pressures them internally and externally.
Part of being human being is the experience of regretting your past decisions which resulted to insecurities. In the light of this, accountants’ first milestone is choosing their future professional self. Many of them say that they made the choice of choosing accounting as their course because of external influences brought by friends, families and colleagues marking themselves as “accountant by accident”. Albeit most of them have not decided on their own, they still didn’t regret to become a Certified Public Accountant. They made other CPAs as a sort of inspiration or challenge rather than be insecure with them. But, they cannot deny the fact that they can still feel insecurities. Furthermore, these insecurities were their driving force to do better in the profession. “Man is insatiable for power; he is infantile in his desires and, always discontented with what he has, loves only what he has not. People complain of the despotism of princes; they ought to complain of the despotism of man.”, according to De Maistre (1988). This statement reaffirms what accountants had told us during the interview. We found out that even though they are already professional, the sense of contentment was not yet achieve as of them reiterate the last stage of the famous hierarchy of needs of Maslow – self actualization. Lastly, they asserted that even if they were not contented, they were happy of what they have become.

How CPAs handle ethical responsibility in the profession? During the conducting of the study, these following themes emerge namely: societal contribution, the purpose of the code, the balance between adherence and consideration and adjustments versus ethical principle. The establishment of the Code of Professional Ethics for Certified Public Accountants is the cornerstone of their professional responsibility. This keeps the CPAs from doing what is right and just. Giving them sense of balance what is right and wrong as the purpose of the said code. The accountants are bound to adhere and follow the guidelines set by the government for the benefit of all parties. However, its formation doesn’t end in just mere words or written stipulation. It must be realize to every action of the CPAs. There might be authorities enforcing such code but the level of adherence must come from personal governance. This personal governance is self-discipline in layman’s term. Therefore, the purpose of the code is to assess yourself as an account as to whether the action and judgment you are going to make does not violate any stipulations of the code. The participants believe that the Code of Ethics and their personal ethical principle are the guidelines to set the limits of what they can do as professionals.
Each professional whether accountants, physicians, lawyer or teachers has an inevitable responsibility towards the public’s welfare. The respondents undergo some serious ethical dilemmas in their own profession. And each of them was able to handle it through adhering to the Code of Ethics set by the government and balancing it to the actual situation whenever applicable. Since, most of them can’t deny the fact that they have given consideration depending to the situation they’re in. The accountants under the Public Practice and Private sector provide services to third parties such as being tax consultant and external auditor. Well, being a tax practitioner is a partner of the government in nation building according to one of the respondents. In addition, the participants asserted that because of the clients’ influence they may be compelled to do the request to alter and adjust the financial statements. Thus, this action violates the purpose of the Code of ethics.
In the Academe, teaching accountants imparting knowledge to the aspiring accountants. They have the responsibility to divulge and mold the students to adhere in the Code of ethics at the same time giving them the sense of accountability. However, some of them may give consideration not in financial statements just like those under Public and Private Practice but in giving grades and student evaluation. Most of them expressed that they are giving their best for the benefit of the students. But, somehow the actual return, the students’ grades, was not quite on the balance. That is why they will ask themselves what was lacking. In the end, they will be considerate and adjust the accounting students’ grades for the sake of some of the passing the subject. They have their own ethical principle but because they cared for the students they are willing to compromise and adjust it in some way justifiable. Furthermore, the participants under the Academe enunciated that they are happy and satisfied to see that some of their past students are now Certified Public Accountants which they considered as their

Societal contribution. As the CPAs journey goes on, they will be ups and downs on the road of success but the accountants know where to balance the adherence to the Code and the right amount of consideration in the situation and for the people involve. The respondents also give an emphasis on their decision making as to whether they will follow their ethical principle or the requested adjustments. Hence, the public can assure that they accountants will not do anything that will not depict the purpose of the Code of Ethics for such will be the greatest societal contribution.

CONCLUSION

Like any other journey, the conduct of this study has finally come to its end. We have come to look at the different experiences of the Accountants as they continue to exercise their profession. The Accountants who diligently took part of these phenomena shared a piece of their ups and downs in life as a CPA.
This study shows the various angles in the life of the Accountants. This investigation clarifies some of our wrong perceptions about them. We might highly regard CPA as a title, something prestigious to the one having it. Well, this may be true in some cases but to reveal some of the drawbacks of owning the crown is something this study provides. There are pressures, commitment not just to their clients but to the society as whole and tough decisions that they have come to encounter. But despite these forces that hinder or impede them to attain their purpose, this only serves as a spice for them to be seasoned in their career. What matters most is that how they all surpassed these obstacles without staining their reputation.
As we were conducting our research, we researchers learned a lot from this study. We have now a better view of the Accountancy Profession. We also aim to become CPA someday because we think of it as a prestige, as highly regarded profession in the society. But as we dig on the experiences of the different CPAs, we have come to realize how big their responsibility in the society and how delicate their role can be. Imagine, the public would rely on everything that you say, one wrong move could be fatal not just to you but as to the profession as a whole. We now vied the accountancy profession not purely on the advantages that it brings but to its disadvantages as well. We are more determined and motivated at the same time excited to explore the circle of this profession because we are now more aware of the possibilities that it can offer once we step outside in the four corners of school rooms and fully embrace the reality as we become CERTIFIED PUBLIC ACCOUNTANT.

Implication for Practice
This study reveals various issues that a CPA encounters. And inline with this, they have to come up with decisions and choices that could affect the business and the economy at large. If should be noted that despite of great self-control, the fact that there are external forces that could tamper some ones decision is something that should be look after. In exercising any profession, ethical and moral guidelines must be observed.
On Philippine Institute of Certified Public Accountants (PICPA). The PICPA being the national professional accountancy body of the Philippines may tighten its advocacy in implementing a high ethical conduct and integrity among its members. They may also provide programs that will uplift the moral values of every CPA in order from them not to indulge in disgraceful actions.
On Certified Public Accountants (CPA). “Great power comes great responsibility”, the title of being a CPA entails great obligation. CPAs ought to be transparent in every undertaking because the public rely on them in terms of making economic decisions. Their actions serve as the basis in gauging the level of trust and confidence that the public would bestow on the profession and aspiring CPAs would also tend to look up at them and put them on a high pedestal.
On Accounting Teachers. They serve as the molder and guider of the hopeful accounting students who want to be a CPA someday. They should unstill not just numbers and formulas to the student but also integrity and values. The student must be prepared to the harshness of the reality outside and should not only be imprisoned in the four corner of a classroom. They may impart problems that an Accountant may be facing in reality and giving possible solutions onto it as well.
Implication for Accounting Students The result of this study broadens the knowledge of the students as to what is really happening once they become a CPA. It serves as an overview of what might happen in the future. The students would know of the possible actions that would be taken if the same situation would be encounter.
Implication for Future Research The outcome of this study would be possibly utilized for further investigation. It can be a basis of conducting a broader or specific study on the accounting profession. The future study may focus only on one of the 4 sectors of the Accountancy. It may be on the Public, Private, Academe or Commerce and Industry. Or it might be used in companyingand contrasting CPAs from different sectors or it might also be use gather information as to which is more prone to scandalous acts among the 4 sectors. And to take it to a higher level, they may be also use this study in order to further answer as to what are the view of those people who engaged in scandalous acts to the Code of Ethics.