xWhat is a "virtuous accountant" in professional practice? How does one recognize and resolve moral dilemmas in business settings? What happens when complicated circumstances make it difficult to "play by the rules"? These are the kind of questions to be treated in this course of accounting ethics.
As students gain technical competence in applying the principles of accounting to clarify economic transactions and report financial information, they must also develop analytical skills to recognize and resolve ethical dilemmas. Given rapid changes in the marketplace, new communication technologies and creative business practices, accountants face complex situations that challenge their judgments and make it difficult to act with integrity and for the public good.
The course teaches the ethical standards of accounting practice and introduces students to the intellectual principles of ethical decision making as these have been developed in the history of moral philosophy and communication theory. They will gain insight into the processes of thinking about moral problems, ethical conduct, and professional duty.
Through lecture, reading, and case study analysis, students will resolve moral dilemmas and learn to give reasoned explanations for their decisions. They will study recent business scandals, identify accountants' responsibilities for addressing unethical corporate practices, and discuss the role of accountants for maintaining public trust in business and protecting interested parties from misinformation, deception and fraud. Work with case studies of accounting ethics issues is a central learning tool in the course, and much time will be dedicated to practical, real-world cases.
Students should gain an understanding of the ethics of the profession and the importance of making values-based decisions in the performance of accounting duties.
The course is suitable for students who will work in accounting and auditing, as well as for those who will work in management, where insight into technical and ethical aspects of accounting and auditing is essential.
The course does not assume detailed prior knowledge of accounting.
Topics
- What is accounting ethics?
- Contemporary business scandals in the United States and Europe
- Moral dilemmas and ethical decision making
- Ethical theory (utilitarian ethics, deontological ethics, virtue ethics, social contracts)
- Accounting standards
- Ethical issues in accounting and auditing (Fraudulent financial reporting, misappropriation of assets, professional ethics code violations)
- Codes of ethics and professional ethics
- Stakeholder analysis in accounting and auditing
- Conflicts of interest in professional practice
- Accountants and public service
- Will new rules and regulation improve accounting ethics?