...Assignment Week 4 Code of Ethics Name Devry University Accounting 525 Veliota Drakopoulou, PhD 01/30/2016 Abstract The American Institute of Certified Public Accountants (AICPA) has made a Code of Professional Conduct that establish an ethical standard for public accountants in the US. The Generally Accepted Accounting Principles (US. GAAP) wants to collaborate with IFAC in order to resettle the principle accounting standards, but the rules and the ethics for professional and the financial reporting statements make a big difference. According to the article “It's Time for Principles-Based Accounting Ethics”, the American Institute of certified public accountants (AICPA) established standards that public accountants in the United States need to follow. The article argues for this code of conduct to be replaced with a code of ethics, which the authors believe to be superior to the rules-based standards currently in place, and attempts to present a solution by centering the AICPA code rules around different virtues such as objectivity, integrity, inquisitiveness, loyalty, and trustworthiness and analyzing the rules-based standards. This paper will argue whether the authors are correct in stating that a code of ethics should do more than establish minimum acceptable standards; describe the five cardinal virtues of professional accountants; differentiate between the rules-based and principles-based accounting standards; and finally compare and contrast the AICPA’s code...
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...Ethics Essay Franklin G. Hisole ETH / 316 April 20, 2015 Robert Gennette Ethics and Morality Moral and ethics defines the nature of our society and culture today. They are both complimentary in nature but different in some ways. Moral determines person’s character when an individual interacts in social and personal relationship and Ethics are the philosophical study of morality or moral standards. Utilitarian theory, Virtue ethics, and Deontological are some of the examples of major ethical theories that covered in this essay. Collaboration on personal experiences added as well by explaining the relationship between virtue, values, and moral concepts. Virtue Ethics The virtue theory approach centered on a belief that a person is responsible for their ethical choices and decision. The central feature of virtue ethics is the focus on decision’s outcome, as supposed to following and setting up specific rules for every scenario. One is responsible for making the best possible choice that morally coincides with his or her beliefs whether it’s breaking the law. One example commonly accepted in the community is the “Robin Hood” method. A person will steal food, money or essential things just to support or give it away to people in need. The act clearly violates the law and may seem like an immoral or unethical act to some people, but that individual believes that an act was virtuous since he helps poor people by providing their needs. The...
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...Abstract Advanced Audit & Assurance often creates the question on practice of ethics in professional activities. The purpose of this report is to review Threats to Compliance with the Code of Conduct by Professional Accountants. With the expanding business in the modern world, issues arise on professionalism of Independent and Internal Auditors. Is it whether the Professional Accountants follows the ethical code provided by the International Ethics Standards Board for Accountants in order to provide true and effective financial reports to the internal and external users? Professionals are expected to conduct themselves at a higher level than most others members in the organization. The International Accounting Bodies has emphasized the conceptual...
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... 1. What is the common characteristic of Aristotle's virtues and ethical standards for CPAs? A. Truthfulness B. Integrity C. Loyalty D. Due care Jane finds a material misstatement while auditing a client's accounts receivables. Her senior tells her to ignore the misstatement so that the client does not get upset. Jane wants to be viewed as a team player in order to advance in the firm. So Jane follows her senior's instructions and ignores the misstatement. Which ethical theory did Jane use to make her decision? A. Egoism B. Justice C. Virtue ethics D. Utilitarianism Which of the following situations would be considered ethical? A. The cashier at Wal-Mart gives you $5 more than you were supposed to receive and you don't do anything about it B. You accidentally back into a car at Wal-Mart and leave your information for them to call C. Receiving fake $20 bills and using them in a store while knowing they are fake D. Finding a phone in a restaurant and keeping it Each of the following characteristics describes the importance of integrity in decision making except for: A. Acting out of moral principle B. Being loyal to one's superior C. Having the courage to do the right thing D. Not subordinating professional judgment to others Each of the following describes the behavior of Cynthia Cooper in the WorldCom fraud except for: A. Persistence B. Competence C. Integrity D. Hesitance The ancient Greeks thought of the virtues as characteristics of behavior that: A. Could lead to a good...
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...ACC 411 – Accounting Ethics Midterm Exam Due: November 20th by 11:59 p.m. Multiple Choice (2 points each) 1. Each of the following elements make up an integral part of what is meant by "ethics" except for: A. Accepted standards of behavior B. Knowing the difference between right and wrong C. Always following the law D. The moral point of view 2. When is it appropriate to contact the audit committee about a difference of opinion with the CFO over an accounting or financial reporting manner? A. If the CFO does not agree to correct the financial statements B. The CEO supports the CFO and does not agree to correct the financial statements C. The external auditors support the CEO and do not agree to correct the financial statements D. The audit committee should always be the first to be informed about such a difference of opinion 3. "Treating others fairly" encompasses treating them: A. Equally, impartially, and responsibly B. Equally, responsibly, and openly C. Impartially, openly, and diligently D. Equally, impartially, and openly 4. Objectivity requires that a CPA should: A. Maintain a mental attitude of impartiality B. Maintain a mental attitude of intellectual honesty C. Be free of conflicts of interest D. All of the above 5. The method of ethical reasoning that deals with making decisions after considering the interests of others is: A. Egoism B. Enlightened Egoism C. Utilitarianism D. Rights Theory 6. Deontology...
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...nature of human morale. According to Hamalainen and Saarinen (2007) it seemed that in the early years of Enron Kenneth Lay genuinely believed in Christian values, acted altruistic and represented age-old virtues of good life that are supposed to bring good to the whole system. Most virtue ethics theories take their inspiration from Aristotle who declared that a virtuous person is someone who has ideal character traits. For example, a virtuous person is someone who is kind across many situations over a lifetime because that is his/her character and not because he/she wants to maximise utility or gain favours or simply do his/her duty. Kenneth Lay in this respect was building an extensive network of relationships and making him powerful rather than caring about others. Moral theories are concerned with right and wrong behaviour. Deontology and Consequentialism concern themselves with the right action, virtue ethics is concerned with the good life and what kinds of person we should be. Deontology and Consequentialism are based on rules that try to give us the right action, virtue ethics makes central use of the concept of character. The answer to `How should one live?` could be that one should live virtuously, that is, have a virtuous character. Distinguishing feature of virtue ethics is the character trait of kindness, where person acts kindly in all sorts of situations, towards all kinds of people, and over a long period of time, even when it is difficult to do so. In Kenneth’s case...
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...demoralizing, desensitizing, and false. Young people and adults alike are trying to navigate through their lives and through the world with a broken compass. The role media plays in issues such as self-worth, bullying, and suicide need to be addressed and revised. I will discuss media and its role and responsibility through the perspective of both a classical and contemporary ethical theory. The classical theory that will be discussed is virtue ethics, which is the study of the virtuous character of a person (Mosser, 2010, p.1.7). The contemporary theory that will be discussed is emotivism, which is basing one’s moral decisions on one’s feelings and emotions (Mosser, 2010, p.1.8). Concluding, I will discuss which theory is closer to my own personal view and why I chose that particular theory. While freedom of speech and personal connection are very important, age appropriate moral standards should be upheld in the media because media plays a significant role in suicide, bullying, and self-worth. According to Mosser (2010), virtue ethics seeks to find “not what makes an act good but what makes a person virtuous” (p.1.7). Indeed, a virtuous person has and shows high moral standards. So if media plays the role of a super peer in multiple realms, shouldn’t media also exemplify these same high moral standards? Healthy balances with proper limits need to be enforced with mass media and society. One way to do this...
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...FEIT31272 Project Management and the Professional Assignment 1 | Ethics of UAVs | 11035425 Ngo, Kevin 11035502 Truong, Matthew | Table of Contents Executive Summary 2 Introduction 2 Overview 3 Definition 3 History of UAV 4 Civil Use 7 Background: 8 Small Picture Ethics 9 Big Picture Ethics 12 Deontology. 12 Relativism 15 Virtue ethics 17 Future use: 19 Recommendation 21 Individual Opinion 22 Kevin Ngo 22 Matthew Truong 25 Reference List 27 Executive Summary Introduction Unmanned aerial vehicles (UAVs) can generally be defined as a “device used or intended to be used for flight in the air that has no on-board pilot”. Current generations of UAVs “can be as small as an insect or as large as a charter flight”. They can be launched from a road or a small vehicle, but are often large enough to accommodate cameras, sensors or other information gathering equipment. Recently, discussions of UAVs have shifted most of the attention toward the ethical, legal and privacy implications that UAVs have, on society in global and domestic level. Overview Definition ------------------------------------------------- ------------------------------------------------- There are many various terms used to identify these unmanned vehicles to which by its definition are that of a craft without a human pilot within. The most commonly accepted term would be UAV ( unmanned aerial vehicles); the US military much prefer...
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...Should Pornography be regulated? SOC 120: Introduction to Ethics & Social Responsibility SHOULD PORNOGRAPHY BE REGULATED? When applying ethical theories and perspectives to the issue of whether or not pornography should be regulated you are left with numerous results. Some may argue that pornography is an expression, allowed by freedom of speech, however others may view it as obscene therefore wrong. Pornography can be defined as printed or visual material containing the explicit description or display of sexual organs or activity, intended to stimulate erotic rather than appealing or emotional feelings. Many people have different feelings concerning pornography with different reasons for holding these opinions. Many see pornography as a form of art, while other see it as offensive. Some may say pornography is a simple expression of two consenting adults and no harm is being done to anyone. However, some argue that if subjected to the wrong person, such as a teenager this form of entertainment can lead to future problems. It all depends on the way you analyze these concerns and this essay intends on doing just so. Here we will apply different ethical theories to the question, Should pornography be regulated? Many questions arise when dealing with pornography. How can the contact to pornography affect the personal growth of a specific person in a positive or negative way? How do facts and values factor in with the ethical points of pornography? Utilitarian...
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... Integrity is the honesty and truthfulness or accuracy of one’s actions. Integrity regards internal consistency as a virtue. One may judge that others “have integrity” to the extent that they act according to the values, beliefs and principles they clam to hold. As Williams explains, the principal of utility undermines personal integrity. Utilitarianism focuses primarily on describing morally correct action, not necessarily virtue and character. Williams criticizes how utilitarianism specifies more than what it is for an action to be morally correct by specifying how an individual should think about moral decision. For example, individuals should think about which of the actions available would maximize general well-being and decide to act accordingly. Williams explains that utilitarianism recognizes no personal commitments, causes, or any other such related activities and any individual who tried to live as an utilitarian would not be able to live with integrity (Williams 1973). A utilitarian might argue that his identity-conferring commitments, which Williams argues would undermine his personal integrity, would have compliance with utilitarian principals. So, there would be no conflict between his integrity and utilitarianism because the latter would include the former. Ashford believes that a virtue of utilitarianism is that it highlights the threats to our objective integrity given our world of extreme poverty and suffering (Ashford 2000). Any view which...
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...Associate Level Material Appendix B Philosophical Approaches to Ethical Decision Making Matrix Determine the ethical course of action for the following three scenarios from the perspective of each of the three philosophical approaches: consequentialism, deontology, and virtue ethics. Then, complete the matrix below by writing a few sentences stating the ethical course of action and the reasoning from that approach’s perspective. Clearly differentiate the reasons for each of the three approaches. Keep in mind that, although rationale might differ, the ethical course of action for a given scenario might be the same for each philosophical approach. Be sure to state the ethical course of action as well as the rationale behind it, according to the philosophical approach. Scenario 1 The mayor of a small seaside town faces a tough decision. A prominent developer has submitted a proposal to build a large mall and resort in the town. This development is estimated to bring $150 million in tourism each year and several hundred new jobs to the community, which badly needs the economic boost. The proposed location of the new development, however, is a site that now houses the only nursing home and senior citizens’ recreation center in the area. Both the nursing home and recreation center would have to be demolished, affecting 100 seniors and 30 employees. There is no other location in town where the new development can be built. How should the mayor decide: in favor of economic...
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...Consequentialism is the intent to maximize the usefulness of a decision. The relevance of this act is depended on its consequences. Now for this approach it’s necessary to have good ethical decisions and perception of it. Even this is important for the students to analyze a decision in and how harmful and beneficial it is. Many of the philosophers are debated on the consequences that should be counted. Deontology is a bit different just because it focuses on the obligation or the duty in motivating the decisions or the actions of the consequences. All of this depends on the respect, fairness, and the rights. This approach is up to the related issues of duty, moral standards, the principles and rights. The next is approach is the Virtue ethics and it focuses on the integrity of the individuals and the morals of the community. To identify the issues of the ethical actions but instead of agent centered. This professional community helps to identify the ethical issues and the guidelines; there is a debate over whether or not the community focuses on the interest. So this means that these individuals are excellence morals, achieving and being intellectual. SCENARIO 1 In this scenario the Consequentialism choice was that the mayor would have chosen in favor of the economic prosperity. At the aspect of letting the new development would have benefits...
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...\documentclass[a4paper]{report} \begin{document} \title{Justice-based Ethics and its Applications} \author{Leo Huang} \date{2017-11} \maketitle \tableofcontents \newpage \chapter{An introduction to the Justice-based Ethics} \section{Preface} Ethical frameworks are an important part of human societies, from the most primitive societies of the past, to the most advanced societies of the future. Although we may not be aware of their effects, ethical frameworks guide our every action, our every decision, and our every thought, driving the immeasurably complex machine that is the human society. Many ethical frameworks operate on the personal level, and dictate only whether a single person should act - how the actions of one person can be ethical...
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...Kimberly Bly PHIL 140 UMUC August 16, 2013 A Defense of Abortion Social Contract Theory was developed to protect the human rights and to abandon the abuse of power in one or few hands. People started living together with common values, rules and regulation. The rights were given protection and duties were assigned as per the rules and regulation prevailed during that period in a particular society. The society grew and grew and became a nation and eventually the state. Thomas Hobbes very rightly said that in a "state of nature" human life would be "lonely, deprived, spiteful, violent, and petite". In the absence of law and order, everyone is powerful and everyone has the right to do anything - negative or positive. To keep the people away from this unlimited freedom and unlimited rights people established community and set up rules and regulation for living in a society. In this way they gained security against the absolute powers of the people and of the rulers/monarch or king (Social Contract, 2013). So life protection was the basic need. Abortion is also a life protection and is condemned on the same basis that a fetus should be allowed to grow and be given a chance to join this world. Killing a fetus is actually a murder, according to some school of thoughts. The author of the "Defense of Abortion" Mr. Thompson (1971) seems to be a representative of the females and has supported not the life but the women’s life. He furthered...
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...2. Ethical Theories used to justify Anglo-American’s Obligation to the ethical issue in Chilean Mines 2.1 Virtue Ethics: In virtue ethical theory, an individual is judged by his character rather than by his actions that may deviate from his normal behavior (Fraedrich, Ferrel and Ferrel, 2009). In Chile’s case, application of virtue ethics justifies the following mishaps: Fairness: With Research gathered from the case study, contract workers are assigned much more dangerous tasks with great risks of injury towards their health i.e. the company uses these workers for a certain period of time and do away with them once younger stronger workers become available while protecting their full time staff with easier tasks and extra benefits (Chatterjee, 2014). Compassion: Researchers’ report have shown that unfair labour practices at the mines such as long working hours, dismissal threats etc. These has caused destruction of family ties and negative social attention of miners in the society, Therefore lack of compassion from the employers was exhibited (Chatterjee, 2014). Integrity: The Chileans mines have polluted the dams used for water supply therefore contaminating the water in the community. Although Supreme Court has ordered for the removal of the mines yet the company is yet to comply by the rules, thus endangering the environment and its residents (Aljazeera, 2015). Moreover its expansion to Brazilian amazon encouraged the Brazilian government for improvement in the economy...
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