ACTG 3P11 Chapter Notes - Chapter 3: Selfishness, Accounting, Accountant
17 Apr 2013
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Document Summary
Guide our behaviour, in relation to others. It"s legal: everybody does it, unlikely to get caught, not severe punishment. A situation in which a decision must be made about the appropriate behaviour. Neither outcome is without apparent undesirable results. Resolving ethical dilemmas: obtain relevant facts. Identify ethical issues: determine who is affected and how, decide on appropriate action. Based on assumption that the organization is willing to work to resolve ethical dilemmas. The person at centre of dilemma is also willing to take action. Identification: purpose and choice, stakeholder analysis, powerful response, scripting and coaching. Sustain professional competence (perform services with integrity, due care) Directs members of a profession by setting standards. Provides a benchmark against which the members will be measured by their peers. 3 components to icao rules of professional conduct: principles - general, rules - specific. Most critical of all principles for auditors. Auditor must be independent in both appearance and fact.
