Accountants must follow certain ethical considerations while dealing with financial information. These include objectivity, integrity, competence among others and avoiding conflicts of interest. Unethical accounting can destroy companies and even societies. The Enron scandal showed how altering financial statements by concealing debt and inflating profits through fraudulent practices could cause irreparable harm. Fraudulent Financial Reporting Financial data appears as if it’s objective but that is not always the case. Recent business scandals have shown just how risky unethical accounting can be thus finance managers or any other person who handles sensitive data should be guided by moral principles. Ethical considerations in financial accounting involve staying away from any...
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