...“performance of it professional responsibilities” (Mintz, 2011). The AICPA Code of Professional Conduct has six important principles and they are: Responsibilities; the Public Interest; Integrity; Objectivity and Independence; Due Care; and Scope and Nature of Services. Each of the principles is meant to be follow by the members of the AICPA. These articles are used to explain the responsibilities that CPA’s have to clients, colleagues and the public. AICPA Code of Professional Conduct Principles The first principle’s responsibilities are to protect the public of irresponsible and immoral behavior. The second interest makes sure the public’s best interest is protected. The third and fourth principle ensures that the trust of the public is best served; integrity, honesty and confidentiality are of outmost importance, as well as objectivity and impartiality. The fifth principle deals with the level of quality service and competence that the public receives and deserves. The sixth principles ensures that CPA’s have good internal control put into place, and to make sure that CPA’s are unbiased and free of conflict when performing an audit for a client. These principles are put into place to protect the public and I would say also to protect the CPA’s, because as they follow them they will ensure that their practice is honest, responsible, and ethical, leaving no room for unethical behavior. AICPA Code of Professional Conduct Purposes The most important purposes of the AICPA Code...
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...conduct that is formed on the bases of six principles. These principles are “responsibilities, the public interest, integrity, objectivity and independence, due care, and scope and nature services” (Mintz & Morris, 2011). Each of these principles are used as a guide for the accountants performance of professional responsibilities and the commitment to uphold the publics trust even at the expense of personal benefits. This code of conduct is considered to be the foundation of ethical reasoning in the accounting field because it touches on all aspects of the accounting profession. It also protects all the parties that are involved, the accountant, investors, the public, and creditors. I believe that the three most important purposes of the AICPA is to protect the client, the public, and the accountant. I would say that the most important purposes of the AICPA because the client, the public, and the accountant are the individual parties that make a company succeed or fail. Protecting these individuals is accomplished by following the AICPA principles in all situations. The three main principles that do this are responsibilities, the public interest, and integrity. Accountants have responsibilities to anyone who employs their accounting services. They also have the “responsibility to cooperate with other accountants to improve the art of accounting and to maintain the public’s confidence” (Mintz & Morris, 2011). The second principle, the public interest, effects the public...
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...Professional Conduct represents the principles that “are based on the values of the profession and the traits of character that enable CPA’s to meet their obligations to the public” (Mintz & Morris, 2011). The AICPA Code of Professional Conduct has six essential principles to guide them in the performance of their profession. The six essential principles are: Responsibilities, the Public Interest, Integrity, Objectivity and Independence, Due Care, and Scope and Nature of Services. All these principles need to be follow by the members of the AICPA. These principles link the professional conduct to moral judgment and recognize the responsibility that CPA’s have to his or her clients as well as the public. AICPA Code of Professional Conduct Principles The AICPA Code of Professional Conduct have six essential principles. The first principle is call “Responsibilities”, which protects the public of irresponsible and immoral behavior. The second principle is “The Public Interest”, which protects the best interest of stakeholders that includes the clients, credit grantors, government, investors, etc. The third principle is “Integrity” because this principle identify the public trust and CPA’s need to be candid and honest while maintaining client confidentiality. The fourth principle is “Objectivity and Independence” and this ensures that the trust of the public is served with fairness and impartiality. The fifth principle is “Due Care” and this principle calls for the improvement...
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...Submitted in partial fulfillment of: PROC 5000 Procurement and Acquisitions Management Topical Paper: Ethics, Social and Environmental Responsibility of Supply Management Karmin Jones Webster University Abstract Supply Management professionals application of ethics, social and environmental responsibility defines who they are in various ways. For a supply management professional to be competent for procurement, acquisitions, and logistics it is essential to be knowledgeable, persistent and always eager to gain more information to stay proficient and well informed. Logistics and those who work in the profession have to understand that their job can be complex and difficult if one does not apply the skill sets appropriately. Laws, regulations, and mandates set forth are set in place to assist and keep the supply management professional safe and away from harm. The task of being professional and competent and still being able to set the standards can be difficult but it can be done if one knows the foundation of a competent supply management professional. Ethics, social and environmental responsibility in any organization is very essential for their day to day operations. It is especially important however in the supply management field for these factors are implemented because it builds trust and shows that supply management and its counterparts that they have a care aspect about them. Ethics training has emerged more in recent decades because of the moral and ethical...
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...social responsibility. Employee Responsibilities and Rights Journal, 21(4), 275-277. doi:http://dx.doi.org/10.1007/s10672-009-9124-4 This article emphasises on keeping up of a good employee-employer relationship as the important element of maintaining ethics and corporate social responsibility. Employee as one of the inevitable factors of organisation should be considered as the most important stakeholder of business. Restrictive approaches towards employee will badly affect the organisation and the organisation may not be successful towards external stake holders like society as its basic duty itself towards the employee is a failure. At the same time, the employee has to be concerned about his duty towards organisation and should try to fulfil it in union with the employer. In conclusion, employee and employer relationship is an unavoidable element to secure ethics and social responsibility of the firm. This article gives a bird’s eye view about the requirement of maintaining a good employee-employer relationship, although it does not deal with the topic in a wide manner. The article consists of some relevant examples to prove the writers’ arguments. But, it does not put forward relevant suggestions to make the point practical. In spite of that, the writers have won in ascertaining employee and employer relationship as the requirement of time to secure ethics and social responsibility in this modern business world. Holme, C. (2010). Corporate social responsibility: A strategic...
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...Certified Public Accountants (CPA’s) in the “performance of it professional responsibilities” (Mintz, 2011). The AICPA Code of Professional Conduct has six essential principles and they are: Responsibilities, the Public Interest, Integrity, Objectivity and Independence, Due Care, and Scope and Nature of Services. Each of these principles is meant to be followed by the members of the AICPA. These articles are used to explain the responsibilities that CPA’s have to clients, colleagues and to the public. The first principle, Responsibilities, protects the public of irresponsible and immoral behavior. The Public Interest makes sure the public’s best interest is protected. The third and fourth principles guarantee that the trust of the public is greatest served; integrity, honesty and confidentiality are of highest importance, as well as objectivity and impartiality. The fifth principle deals with the level of quality service and competence that the public receives and deserves. The sixth principle ensures that CPA’s have good internal controls put into place, and makes sure that CPA’s are unbiased and free of conflict when performing an audit for a client. These principles are put into place to protect the public and also to protect CPA’s, because as they follow them they will ensure that their practice is honest, responsible, and ethical, allowing no leeway for unethical behavior. The most important purposes of the AICPA Code of Professional Conduct are to honor the public’s...
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...Though laws often change, ethical principles remain constant and do not change over time. | | | A) | True | | | B) | False | | | | | | Feedback:Topic: Ethics AACSB: Ethics Bloom's: Understand Difficulty: Medium LO: 04-01 Page: 108 In studying the relationship between ethics and law, it is important to understand that neither laws nor ethics are fixed principles that do not change over time. Ethical beliefs change as time passes. | | 2 INCORRECT | | Stakeholders have a claim on a company because when they buy its stock or shares they become its owners. | | | A) | True | | | B) | False | | | | | | Feedback:Topic: Ethics AACSB: Ethics Bloom's: Understand Difficulty: Easy LO: 04-02 Page: 110 Stockholders have a claim on a company because when they buy its stock or shares they become its owners. | | 3 INCORRECT | | When applying the moral rights rule, managers should choose the course of action that best protects and upholds their personal rights. | | | A) | True | | | B) | False | | | | | | Feedback:Topic: Ethics AACSB: Ethics Bloom's: Understand Difficulty: Medium LO: 04-03 Page: 119 Managers should choose the course of action that best protects and upholds the rights of all stakeholders. | | 4 INCORRECT | | Trust, the esteem or high repute that people or organizations gain when they behave ethically, is an important asset. | | | A) | True | | | B) | False | | | | |...
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...The Human Element “Ethics” in Business Research Management Kanak Tara*, Archana Yadav** and Ritesh Kumar*** *JRF, Indian School of Mines, Dhanbad **M. Ed., Xt. Xavier College, Patna; ***Scientist, Central Institute of Mining & Fuel Research, Dhanbad ABSTRACT India, like some of the other developed and developing countries in the world, is greatly facing problem of ethics in business research and its management. The large amount of new wealth creates incentive to cut corners to get rich. The pressure to succeed at all costs has created a ‘cheating culture’ that threatens to undermine academia as well as the social and economic fabric of society. However, good business ethics help a society as a whole, and some say that good ethics can be a source of competitive advantage for an organization. Steps can be taken to improve ethics in business research and its management at the societal level, at the individual level, and more importantly at the organizational and the governmental level. In addition to ethical leadership, we believe that one key to improving ethics at the organizational level is human resource management. Improvement can be made in the areas of recruitment, selection, performance appraisal, performance management, compensation and benefits. Personnel policies can help ensure ethical conduct within the organization. This paper outlines and discusses the ethics in general as well as in Business research. INTRODUCTION Today’s challenge to business leadership...
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...www.thetimes100.co.uk Business principles in action nutritional labelling Introduction Consumers have higher expectations than ever before. They want products to match these expectations. They also want accurate, up-to-date and useful information about what they buy. In short, consumers want the facts. This growth of consumer power is known as consumerism. CURRICULUM TOPICS • Market orientation • Business ethics • Business communications • Value chain • Product positioning GLOSSARY Consumerism: situation in which consumers of products exert power and develop consumer rights. Fast moving consumer goods (FMCG): wide range of everyday consumer products. Marketing orientation: focusing an organisation upon the needs of its customers. Market research: gathering, recording and analysis of data obtained from consumers and markets. Guideline Daily Amounts (GDA): guidelines for healthy adults and children on the average amount of nutrients that they should consume over an average day. Corporate responsibility: the wider responsibility of a business or organisation. Responsibility to a range of stakeholders including the community & society at large. Trade association: independent body that works with suppliers within an industry. In the area of fast moving consumer goods (FMCG), marketing has become a specialised and complex process. When developing products, organisations try to meet the needs of their consumers as fully as possible. This is vital if they want to do better...
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...Personal Responsibility and College Success Tamara Minnock GEN200 December 3, 2012 Erin Maloney Personal Responsibility and College Success What is personal responsibility? It is different for everyone. A student who is not married or without children will have a different definition of what personal responsibility means to him or her. A person’s every day needs helps to define and help figure out what is important to them. What is best for my family helps define my personal responsibility. My responsibility includes a home life full of teenagers and a husband, a full-time job, a part-time small business, and my goal of earning a bachelor’s of science degree. By succeeding in my goal of earning a degree, I will be able to grow both professionally and personally. Professionally, a bachelor’s degree will help further my career by making me eligible for a higher series position. The positions that are of interest have certain educational requirements. A better paying job will help personally, also. I would be able to provide my family with not only our finances but also pride in my achievements. By succeeding in college, I can teach my son that goals are attainable. Since I was a young teenager, my goal has been to earn a bachelor’s degree in business management. Personal responsibility is the way of achieving my goals and demonstrating in being a good role model for my son and the other teenagers that look up to me. Developing valuable time management...
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...What are the next steps in your career plan? What milestones have you established in the Career Plan to monitor your progress towards your career goals? Why do you think these steps are important in helping you progress? How can you focus your time and attention in future courses based on your career competencies and goals? Click the Assignment Files tab to submit your assignment. 2- Read Case Application 1, “Lessons from Lehman Brothers: Will We Ever Learn?” at the end of Ch. 5 of Management. Discuss the scenario with your team. Discuss the second, third, and fifth discussion questions at the end of the case with your team. Answer each question based on your team’s discussion in no more than 350 words per question. Click the Assignment Files tab to submit your assignment. 3-1. As a university student, your institution’s social principles and practices reflect on you, as a stakeholder, in the organization. Therefore, it is your right to question how these practices should be evaluated in relation to the social issues that your school is addressing. If your university was paying minimum wage when necessary and applying the minimum legal standards to its employees’ work environment, it would be said to have fulfilled its ________. social obligation social responsibility social responsiveness social expectation Bottom of Form Incorrect : An organization performs certain...
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...and weight issues. During a treatment team meeting, the RD | |reports on the client and is questioned by one of the team members about why he did not refer the client to the mental health professional. | |What should be done in this situation? | |Questions for Discussion | |Is the situation described an ethical issue? Or, is it a business dispute? It is an ethical issue. | |What principle(s) of the Code of Ethics does it relate to and how/why? | |Indicate the Category for the Code of Ethics: Responsibilities to Clients. | | | |Indicate the...
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...Executive Summary This report focuses on the effects on corporate social responsibility (CSR) on MNC from a theoretical point of view by explaining the principles of the CSR in the MNC in a business strategy, identifying the challenges faced by the company in introducing the CSR practice and recommendation by ensuring its effective growth introduction to the company. Corporate social responsibility (CSR) helps MNCs to work in a way which accept ethical way and also contribute to the economic growth and improvethe employees living environments, the smaller society and the bigger society. Multi-national companies can help for CSR in developing countries.The principle of CSR is as a result of globalisation. For centuries, globalisation has been a trend that has knitted people together; this can be traced back to the ‘trade by barter’ system. As civilisation evolved, globalisation began to have more effect and thus implementing CSR. Globalisation has its impacts, both positive and negative on businesses, families, individuals, communities and nations. It is believed that CSR is a means of highlighting the positive impacts of globalisation. Introduction Corporate social responsibility is defined as operating a business in a way that helps for the social and social and environmental effect created by the business organisation. Corporate social responsibility (CSR) helps MNCs to work in a way which accept ethical way and also contribute to the economic...
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...description of responsibilities) with the PCAOB at the time of this article? The author of the article titled, “The PCAOB and the Social Responsibility of the Independent Auditor” is Douglas R. Carmichael. At the time of this article Douglas Carmichael was the Chief Auditor of the Public Company Accounting Oversight Board. His responsibility as Chief Auditor was to advise the Board and the head of the PCAOB’s professional standard-setting division on matters of policy and technical issues relating to the auditing of public companies as well as what the auditor’s role was. His role of advisor helped keep the PCAOB from being influenced by the accounting industry and their standards. 2. What does Carmichael see as the underlying mission of the PCAOB? Carmichael sees the underlying mission of the PCOAB is to restore the confidence of investors in the independent auditors of public companies by registering public accounting firms that prepare the financial statements of public companies, inspecting the audit practices of the registered accounting firms, enforcement of compliance with professional standards and securities laws by the registered accounting firms, investigation, discipline and imposition of sanctions on firms and associated persons, as well as establishing or adopting auditing, quality control, ethics, independence, and other standards related to the preparation of financial statements of public companies. 3. According to Carmichael, why is it so important that...
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...Professional Conduct The AICPA is an organization that the majority of CPAs voluntarily join. Many in the business world are aware of the AICPA Code of Professional Conduct. This code of conduct focuses primarily on the ethical and professional obligations of CPAs. Members commit to abiding by the principles of the organization which holds them accountable to stringent principles and rules which go above and beyond ordinary laws and regulations. Members are expected to be self-disciplined and conduct themselves ethically and morally at all times. The three most important purposes of the AICPA Code of Professional Conduct are to guide their members in carrying out their responsibilities, to protect the public interest, and to enforce integrity. The AICPA Code of Professional Conduct reminds members that they should always exercise sound moral judgments and to remember they have a responsibility to their clients and the public to make professional decisions that are both ethical and moral. If CPAs were not responsible, society would lose all respect for the profession. There would not be a safe and fair way to judge the financial stability of companies or markets. When CPAs take responsibility and act professionally, ethically, and morally, their clients and the general public can feel confident they are reviewing accurate and credible financial statements of companies or organizations. It is crucial for CPAs to protect the public interest. The public interest encompasses many different...
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