Using Table 3-1, explain how a professional accountant would embody each of the illustrated ethical principles. In
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In Table 3-1
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Table 3-1 Illustrative Ethical Principles The following list of ethical principles incorporates characteristics and values that many people and organizations associate with ethical behaviour. Trustworthiness Be honest and reliable. Honour your agreements or promises, and do not inten- tionally mislead others. Be reliable-do your best to fulfill your commitments. Declare conflicts of interest. Act promptly to disclose hazards. Respect Be civil, courteous, and accepting of others, understanding the many differences that exist among people. Be unbiased in your decision making. Responsibility Be accountable for your own actions and aware of the actions of those you are supervising. Keep confidential information confidential. Use resources wisely and economically. Do not use the work of others without declaring the source. Identify your own competence levels and act within that competence. Judge actions and individuals on their merits, considering the equality of indi- Act out of a positive intention to do no harm or to minimize harm. Be concerned Obey laws, and assist others in obeying laws, including the reporting of offend- Faimess viduals and having regard for due process and transparency. Caring for others, showing benevolence when it is within your ability to do so. Citizenship ers. Help your society function by participating in voting, volunteer work, and the conservation of resources.
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Related Book For
Auditing The Art and Science of Assurance Engagements
ISBN: 978-0133098235
12th Canadian edition
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Ingrid B. Splettstoesser
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