The principle of professional conduct I have selected is public interest. This simply means that parties should act in ways that will serve the public interest, honor and maintain pubic trust, as well as demonstrated a commitment to professionalism (AICPA, 2016). This principle means that the members will do what is right and honorable. This principle will be beneficial to all parties in the long run even in conflicting times. When faced with an accounting dilemma, the member will not simply do what they want. They will not act out of self, but in a professional and honorable manner.

This trait is similar to integrity because it tests the members’ moral compass. This value benefits businesses because people generally prefer to return to businesses that have integrity, are honest and professional. Clients aren’t interested in being involved in drama or problems, so working with a company that values public interest may be preferred. While the details may be different, the situation that comes to mind is the college admissions scandal. It wasn’t really an accounting issue, but it did involve public interest. The individuals involved influenced and coerced admissions at various high-ranking Universities to admit their students. Some of the students were said to be athletes and scholars which may have been a far stretch. As the accountant for the families, they may have known some of this information and urged the parents to do the right thing. Their documentation will be in order just in case they need to report their clients. One may be tempted to be unethical because it may adversely affect the relationship with the client.

• What actions or strategies could you or others take to remediate the ethical issues?
• What are some repercussions of not abiding by your peer’s selected principle from a legal, business, or general professional perspective?

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1 Promote your values and lead by example Most organizations have a list of values with the words honesty integrity or accountability Its good to have these written down but the words are meaningless ... View the full answer