This report was commissioned examine what is the important of professional accounting to the society. While accounting is very valuable knowledge that dealing with different business prospectors and economy of the country, it is cruises to follow some rules and regulation to conduct their work in a manner that society can be trusted the accountants. Therefore I undertake my research in Accounting Professional and Ethical Standard Board (APESB). According to the code of ethics for professional accountants (APES 110) in APESB there are some code of ethics and code of conduct every accountant need to be pursue. Additionally I have done my research in professionalism in medical sector. Subsequently I draw a difference between medical professionalism and accounting professionalism. Finally I have elucidated my own idea about what is the ethics and professionalism means to me.
The nature of the work carried out by accountants need to be in a high ethical manner that people can trust them. In past few years there were many scandals in many organisations coursing wide-ranging damage to the society and economy of the country. Those business scandal were questioned the organisation as whole and predominantly in accounting. That was my underline assumption, consequently the purpose of this report to provide clear understands about the accounting as a profession. As well as illustrate the importance of those code of ethics and code of conduct that APESB has been launched.
2:0 REPORT BODY
2:1 Background Information
APESB is an independent body that established in Australia in 2006. Today there are three members who are working with APESB namely Certified Practising Accountant in Australia, Institute of Charted Accountants in Australia and Institute of public accountant in Australia. APESB issued APES 110 code of ethics for professional accountants. Because accountants are dealing with number of confidential information and client could be trusted on them. Thus APES110 come up with the number of code of ethics. Each and every members of Australia shall be obey this code of ethics when they are performing their duties (APESB,2010).
2:2 Profession and code of ethics, code of conduct.
Author Sha has explain that Professionals is a people who have special knowledge about in particular area that they have learnt through the higher education and training to provide service to public with a confident and trustworthy( 2011). Therefore it is obvious that professional people have a massive knowledge about their professions that they can conduct themself as a professionally.
However most of the people have an egoist hidden their character. Result of that in past years Australia and other countries has expressed many scandals relating to business sector. To minimise those matters every country have introduce their own codes of ethics and conduct. In particularly APESB has introduced the code of ethics and code of conduct to accounting profession in Australia. According to the APESB Code of ethics can be defined as a set of principles that helps professionals to carry out their business in such a way with honesty and integrity to reflect its value (2010).In addition APESB has introduce some code of conduct that accountant must follow. Those are the set of guidance professionals have to follow while performing their duty toward customers such as,
- Professional Competence and Due Care
- Professional Behaviour(APESB, 2010)
2:3 Importances of Professional behaviours
Professional behaviour can be defined as a way that professionals need to perform their duties toward the people who need services by acting as ethical person and being honest and courteous (Ninlaphay & Ussahawanitchakit, 2011).Therefore it is apparent that ethics are the integral part of the accounting. It is difficult give explanation about professional behaviour except ethical intervention. In accounting perspective ethics can be defined integrate social value of behaviour as well as behavioural standard that relate specifically to the accounting profession (Davis & Belcheir ). Accountants are the people who get involved with financial statement process. Different users need different accounting information concerning to their best interest. Therefore in every aspect that information must be accurate and trustworthy. In this situation accounting information users come across with the question that are they professionals and are they act as ethical person (Stuart,2012). Thus different country produces different norms and guidelines for this process. APES110 for Australia and Australian accountant have to be act according that set of principal. In this way they acquired public confidence, civil states, and reputation in relation to accounting profession (APESB, 2010).
2:4 Comparison of non accounting profession
Different profession may demand different code of conduct, but in ethical aspect every profession in society would be equal. Conducting research in medical sector and accounting sector there were no differentiate could be initiated. The following chart gives understand about codes of conduct in both professionalsANCI, 1993 &APES, 2010).)
As shown above it is apparent that both industries main objective is to maximise their values that they cooperatively keep as fundamental in their work and illustrate how those value are convert into action. Both professionals are encouraging their members to uphold their principals and responsibilities explain in code of conduct to guarantee all members’ behaviour would be able to endure public security. Only deference between medical and accounting profession is that medical sector involve with person health and accountants dealt with the numbers and finance side of the people. Thus people can’t survive without health as well as without money. Therefore both professions have immeasurable responsibilities toward public. Likewise standard setters set all those code of conduct, code of ethics and other principals to keep their reputation and withstand the public confidence (Alleman,2012).
In this report important of the code of ethics and code of conducte have been presented. We are living in complicated world with dramatical tecnological improvment and people statr to defeat their assurance. Thus evry standard setters are demanding form their members to behave ethicaly and profesionaly.Without standard bord people will do wht ever they want due to egoism.Therefore as an accountant we need to have standard setters like APESB to guide in path that people can be keep their trustworthy.APES 110 give a broad explanation about how accountant profesion need to be act as profesionals and if any members breach their code of conduct they will be sentence acording to their act.In this way the profession protect their reputation as well as public confidence.Finlay i have compared Medical and accounting profesion but there were not diferent between those two and each profesion main aims is maximise their reputation through public confidence. After all above reserch I would like to present my own idea about profesional ,code of conduct and ethics in my own view. As accounting student i have studied in diferent subject what does mean ethics to me and to the society. Therefore ethics plays enormus role in every person lifestyle.However we can not expect from everyone to act as ethical people . Ethics in my point of view that what is right and wrong in to me , also others values such as the important of equal opportunity of all human beings ordinary rights and respect to the existing ground law and concern for health and safety and more and more. If I applied this into accounting profession, it is obvious that we need hard work to reach into our profession. So once we did all those learning and practical in our education we reached to the professional standard. hence we need some protection for our profession. As an example if everyone will deliver their service in their own way this professionalism will not last. Thus we need some set of guidance and code of conduct to keep our reputation and in a way that people can be trusted us. Since we served to public sector regarding their wealth and currency, we need to build relationship between customer and us according to the ethical manner.
4:0 List of reference
Australian profesional and ethical standard board(2010).codes of ethics for profesional accountant. Rettived from: http://www.apesb.org.au/attachments/1-APES%20110%20Code%20of%20Ethics%20for%20Professional%20Accountants%20December%202010%20-%20Final.pdf
Australian Nursing Council Incorporated (1993) Code of Ethics. Australian Nursing Council for Nurses in Australia Inc., Canberra.Retrieved from: http://www.health.sapanta.com.au/srcn/code.pdf
American Nurses’ Association (1985) Code for Nurses with Interpretive statements. American Nurses’ Association, Kansas City. Retrieved from: http://www.nursingworld.org/MainMenuCategories/EthicsStandards/CodeofEthicsforNurses
Alleman,V.(2011).Professionalism dimension of critical care nursing ,30(2),131-132.Doi:10.1097/Dcc.obo13e311820525f4
Davis, S., Schrader, V., & Belcheir, M. (2012). Influencers of ethical beliefs and the impact on moral distress and conscientious objection. Nursing Ethics, 19(6), 738-749. doi:10.1177/0969733011423409
Ninlaphay, S., & Ussahawanitchakit, P. (2011). Accounting Professionalism, financial reporting quality and information usefulness: evidence from exporting firms in Thailand. Journal of International Business & Economics, 11(4), 155-166. Retrieved from: http://web.ebscohost.com.ezproxy.csu.edu.au
Sha, B.L.(2011).Accredited vs. non-accredited: The polarization of practitioners in the public relations profession, public relation review,37(2),121-128.Retrieved from: http://ac.els-cdn.com.ezproxy.csu.edu.au
Stuart,T.(2012).Ethics and accounting education,Issues in accounting education,27(2),399-418. DOI: 10.2308/iace-50119
The Nurses Board of Western Australia (2000) Nurses Code of Practice. Retrieved from: http://www.health.wa.gov.au/CircularsNew/attachments/495.pdf