What are ‘ethics’ and ‘morality’ as they relate to accountants’ professional responsibilities?
1. Ethics refers to the acceptable values in a particular line of profession. In this case, it refers to the way an accountant is expected to behave in their line of duty. The values are displayed when they act in a particular manner. It demonstrates high level of professionalism. By the virtue of an individual having been trained as an accountant, they should demonstrate the said values in their day to day practice. Ethics are dictated by an accountant’s regulatory body. A breach of such is punishable by the regulatory body under its own provisions. Thus all accountants have the obligation to abide by them or else be liable to answer for a misconduct.
Morality refers to the basic principles of good conduct within a particular group of people. It refers to a person’s own perception of what can be termed as good or bad. It has a very strong connection to the beliefs which ultimately influence their behavior. In extension, the morality informs one’s conduct. In accounting, morality is depicted in an individual singly. Different people will respond differently in the face of a particular issue. It is an intrinsic value to act and behave in a particular manner.
Ethics and morality may not be necessarily congruent. Some ethical values may be conflicting with one’s personal beliefs. Accountants are expected to provide correct information about the financial position of the business. It is unethical to misinform new investors or the necessary authorities. The morality of an individual, influences how they discharge this function. One may consider concealing some information which may render them unethical though they may have compelling reasons to justify their actions.
2. The UWM’s students code of academic conduct upholds ethical values such as honesty and integrity in professional development. By this provision, students are expected to present their own work. Providing work done by other students as their own surmounts to ethical misconduct and is subject to punishment under the laid out provisions of the university. One is expected to properly cite any external information used to give the right credit to the author.
The university does not hold any responsibility to personal behavior. The way students chose to act with regards to the provision is their own responsibility. What they consider right or wrong will inform their decisions. They are given the right to exercise their moral responsibility with reference to the ethical obligation. One may choose to disregard the academic code of conduct because of their moral inclination. This will be unethical though they feel its morally acceptable to them,
Students have an ethical responsibility to report those who engage in academic misconduct. Being a whistle blower when there is a problem is considered ethical as it makes everyone aware of an impending problem. It gives way for a prompt action to prevent further damage. Being aware of an ethical misconduct and reporting is considered good value as it may stop an individual from committing the actual misconduct. Morality will dictate how one act when they have the information at hand
What are ‘ethics’ and ‘morality’ as they relate to UWM’s student code of academic conduct? Have you ever felt an obligation to take action on this code?
I have ever felt the obligation to be a whistle blower. I felt that upholding honesty is the best weapon to curb cheating and ensuring fairness. Ethically it was right to inform the authorities. I felt the urge to directly inform the colleague rather than report them.
3. An accountant can be ethical without morals. The issue of ethics is highly regulated by both law and professional bodies. There is usually a punitive action attached to failure to oblige to the set codes of behavior. According to skinner on the operant conditional, reinforcing a behavior can be achieved through reward or punishment. If an accountant is promised a job promotion, they are likely to abide by the ethics irrespective of their feelings and beliefs. They may weigh the pros and cos and settle on the best alternative though to them it may not be necessarily moral. If punishment is the chosen method of reinforcement, they may avoid punitive actions by ensuring they abide by the required ethical standards.
The question of morality is very fluid term. It has not been clearly defined. There are no particular parameters to measure the level of morality. It is usually left to an individual to make the judgement call on their conduct. Morals have a tendency to depend on the society within which an individual is. One’s morals may be masked if a situation that requires them to make a decision with regards to their beliefs does not present. It is also very possible to disregard one’s feelings if one thinks if its best to do so for the greater good.
Though the issue of ethics and morality may seem very dependent on each other, they may be separated when one takes prevalence over the other. This may happen in the case of reward and punishment.
4. One of the most difficult ethical challenge was when I had to disclose information about the losses my company was making at a time when it really needed investment to expand. We were about to make a deal that was essentially a game changer. It was one that would bridge a market niche making us key players in the sector. The investors wanted the returns in the last six months which was really not the best despite our earlier lead in the in the sector twelve months earlier. I felt that I had the responsibility to disclose all the information to them though this was a mere gamble on the future of the company which was consistently facing stiff competition from the rival companies.
In my approach, I made available the information on our returns in the past eighteen months. the business had shown a steady rise in the returns within that period and the fall during the last six months. I explained the reasons behind the decline. I felt they were very compelling and convincing. They would really not warrant the dismissal of the deal. Despite my honesty with regards to the whole issue, the deal never went down as I had expected. It was ethical to ensure complete disclosure, but this move cost the company a fortune.
Can an accountant be ethical without morals? Can an accountant be moral without being ethical? Defend your reasoning.
From my experience I believe in the utilitarian theory. It states that something is moral or good when it produces the greatest amount of good for the greatest number of people. It concentrates on the principle of greatest happiness. I feel that most people would have benefitted from the partnership with the investors if I chose to do what would bring the greatest happiness.
I would divide the course into four parts: introduction, the principles of ethics and morality, the theories in relation to the subject and practical examples to demonstrate ethical issues. In the introduction, I would bring in the meaning of different terminologies to orient the student to the course. I would also provide a course outline and the necessary resources that would assist in further reading.
I would introduce the ethical principles that should be understood in professionalism, then narrow down to accountants. I would separately introduce the subject of morality. I would then bring out clear distinction between the two and show their interdependence. I would then show how the ethics are upheld by the different governing bodies. The relationship with law and the professional bodies.
The third part would be about the theories. The major theories would take precedence while the minor theories would sum it up. The theories would be presented as follows: the proponent and the tenets. The background information concerning the theories will enhance the understanding. Then I would demonstrate the application of the theories in the accounting profession.
The last part of the course would be a more practical approach in an attempt to integrate the values in professional practice. Case scenarios would help in demonstrating how different actions would be termed as ethical or unethical, moral or immoral. Conduct may depend on the context and this should be made clear. Values inculcated from the unit can be tested from an assignment based on a case scenario.
Affirmation: I declare that this work is my original work and I received no assistance in the preparation beyond the works indicated in the ‘Citations’ section.
Signature: ___________________________________ Date: ________________________
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