Research On Problems Associated With Ethics On Professional Accountants

With rapid and continual rise in the exposed of falsification of company accounts, the standard of professional ethic and conduct of accounting firms are being challenged. In fact, registered professional accountants are now facing the crisis of trustworthy. The prevailing phenomenon is mainly due to the recent changes in the attitude of accountants towards professional ethic and conduct.Every profession has its own code of professional ethic and conduct and the existence of which means the professional not only can enjoy its own unique social status, but also has a social responsibility. Registered accountants and their firms carry out the audit examination of the financial statements of commercial enterprises and have always been viewed both as an "economic guard force" and a provider of true and fair economic message.It is undeniable that the standard of professional ethic and conduct of some professions is not acceptable by the public in recent years. Take for instance, medical doctors committing offence of his patient, selling illegal drugs to layman; lawyers committing offence of theft of clients' money and falsification of documents; engineers committing offences of endorsing the sub-standard construction materials etc. There is no exception to registered accountants, the continual rise in the number of litigations and falsification of accounts signify that the problem of the lowering of standards of professional ethic and conduct.Individual professional cannot single out the question of professional ethic and conduct. It is affected generally by the social culture and climate, prevailing economic climate, education and upbringing of individual. Thereforei the degree of influence by the above factor on professional ethic and conduct must be ascertained and understood before it can be raised to cope with the expectation of the society.It is extremely dangerous to overlook the importance of professional ethic and conduct. Without which can be made an individual lose his career prospect and the society would loss its order. Therefore, maintaining and raising the standard of professional ethic and conduct of all professions especially registered accountants is an essential ingredient for raising the social status and acceptance of a profession.The problem of the lowering of the standard of professional ethic and conduct of registered accountant stems from a number of factors. They include the diversity of education standard and basic human value of individuals, the role of working practice and behaviour of the professional and the outside commercial environment. To solve and alleviate the problem, the education, profession itself and the jurisdiction should be reviewed and improved collectively.