Ethics in Accounting Profession
Facts:
In the current scenario, the main issue is the deviant workplace behavior which is caused by the several workplace professional and ethical problems. On the basis of research, professionals are behaving unethical due to the certain routines in the organization. In the past, the demand and supply of the individuals were under control. However, in the current scenario, the professionals of the highest quality are facing workload. Moreover, the accounting professionals are expecting an increase in their salaries, according to the work load.
Ethical Issues:
The ethical problem with accountants in relation to the deviant workplace behavior is that it is highly probable that they will not perform their duties with high professionalism and integrity. The accountants working for auditing firms must follow the codes of auditing and relevant laws in any circumstances. However, the causes of deviant workplace behavior can influence the decision making and the workings of the accountants and cause ethical problems for the firm and the client. Therefore, it is the duty of the firm owner to make sure that the firm has the expertise and employees to perform duties ethically.
Norms, Principles and Values:
In year 2002, the Sarbanes-Oxley Act (SOX) was introduced to ensure and improve the ethical and professional behaviors of the accountants. However, it is important to state that most of the rules and codes in the Sarbanes-Oxley Act relate to the integrity, objectivity and threats regarding the auditing procedures. The codes can be used to increase the ethical behavior of the accountants by ensuring that the accountants are following proper guidelines. The Sarbanes-Oxley Act ensures the transparency of the audits and increases the integrity of the audit engagements.
Alternatives:
The accounting professional can use other ethical codes such as corporate governance codes and the local regulations as the guideline during their audits and other services. Moreover, the best possible alternative is to apply the concept of professional judgment according on the basis of past experience. For example, to reduce the work load from the accountants, the firm management must decline those offers which are out of the scope of their employees.
Best action:
The best action is that the accounting professionals must understand the codes such as Sarbanes-Oxley Act and any other relevant regulations before accepting any assignment. The Sarbanes-Oxley Act is defending the rights of the shareholders of the company and the best action from the accountants will be to make sure that they work for the best interests of the shareholders. Alternatively, the accountants must decline any conflict of interest, familiarity threat, intimidation and advocacy to ensure that the profession faces no disgrace.
Consequences of each action:
The consequences of each action will ultimately decrease the level of deviant workplace behavior and increase the reputation of the accounting profession. For example, the firm declining the assignments because their accountants are busy with other clients will not increase the workload on accountants. The accountants working with a plan will perform according to the codes and regulations and ultimately their decision making will be accurate and acceptable.
Decision:
The best action for the accountants to minimize the deviant workplace behavior is to follow those actions, which bring no disgrace to the accounting profession. When the accountants will take care of their own profession, then automatically the deviant workplace behavior will decrease. One of the examples of making decision is that when there is a good relation between firm and the client, then the firm must rotate their accountants to ensure that the familiarity threat is reduced.
