Professional Ethics Essay Example

Professional Ethics Essay Example Professional Ethics Essay Professional Ethics Essay It is a well-known fact that audit raises number of questions involving the question of ethics as it plays an important role in each organization. . Ethics evaluates actual merits, social concerns and risks associated with auditing and enterprise. Simply saying ethics can be considered acceptable behavior and can refer to morality. Actually ethics represents individual conscience, individual judgments and principles called ethical values. It is a matter of fact that ethics issues nowadays are moral standards which are enforced in society by social pressure, law and police. It seems that ethics, especially professional ethics, is misunderstood by society and people pay less attention to its role. Nevertheless if a person looks deeper, it is apparent that ethics plays a crucial role in society, because it is the basis of understanding and the source of wisdom. The paper â€Å"Developing a Code of Ethics† addresses the core ethical principles within each organization. It is suggested that professional ethics define methods to be used by auditors with decision-making process. The paper provides recommendations how to build credible and ethical culture, defines the code of ethics and its main constituents, examines the standards of professional behavior and, finally, discusses ethics in financial reporting and recordkeeping. The authors argue that because of recent scandals professional ethics should be paid more attention. Also revised sentencing guidelines provide new opportunities for all companies to develop and maintain effective ethics program. Actually, the question how to develop a code of ethics is matter of interest of managers, attorney, auditors and boards. It goes without saying that there is no single definition of code of ethics. Nevertheless, the authors define the code of ethics as â€Å"a statement of the values adopted by the company, its employees and its directors. It sets the official ‘tone at the top’ regarding expected behavior†. However, it is outlined that code of ethics shouldn’t be confused with a detailed statement of how auditors and other employees should handle dilemmas. Therefore, it is necessary to develop a handbook which will address the issues of gender discrimination at the workplace and employee discipline. Actually, the issues raised in the paper relate to the course topic â€Å"Professional Ethics†. The article touches not only theoretical aspects how to build ethical culture, the paper discusses the role of professional ethics and provides relevant recommendations how to improve personnel behavior and to increase the role of ethics within organization. The paper is a detailed guidance how to develop code of ethics paying special attention to confidentiality of information, employee empowerment and environmental stewardship. The paper is a coherent, well-organized and coercive study of a subject. Actually, all aspects of code of ethics are highlighted by the authors. Their recommendations and conclusions assist organizations in building ethical culture, because professional ethics is a core of success. It is necessary to agree with author that code of ethics shouldn’t be exhaustive; instead, it should guide both directors and employees in required direction. Apparently, the code of ethics can’t cover all possible conflict situations, managers and auditors are expected to use good judgments and to ask questions of interest. The next positive moment is that paper underlines the importance of integrity, accountability, fairness, safety and corporate citizenship. It is suggested that when working with clients, professional auditor seeks fair and open procedures and communication. The authors discuss also the upholding the values of the corporation stating that employees are expected to â€Å"deal honestly and fairly with consumers, suppliers and others having dealings with the cooperative†. However, the paper pays less attention to conflicts of interest. Conflict of interest may prevent and affect any fulfilling of duties and responsibilities in research, administration, management and instruction processes. Apparently, conflicts of interest negatively affect the working process. Emerging of a conflict is a potentially dangerous event as it provides distortion of goals, processes and outcomes.