Accountancy Ethics refers to the rules and principles that accountants must follow to avoid misuse of financial information and abuse of power. It involves faithfully representing financial data in statements by being complete, neutral, and free of error. Becoming a professional accountant means obtaining an accounting degree and job experience, as well as continuously developing skills. More importantly, it means embodying ethical practices like integrity and accountability. Professional accountants adhere to work responsibilities and behave appropriately. One moral dilemma is an accountant revealing an employee's private information like salary. To resolve this, companies should assess employees' ethics and provide channels to report unethical actions anonymously. Accountants also need ongoing ethics training to stay

1. Accountancy Ethics
1. Define Accountancy Ethics.
Some research defines Accountancy Ethics as a set of certain rules, guidelines, and
principles promulgated by the governing bodies that must be abided by every person associated
with the profession of accounting so that misuse of financial information and abuse of a
management position would be avoided. Prior to this, my understanding of its concept goes
beyond the practice of moral values and judgement applied in the field of business specifically, in
accountancy. Accountancy as a profession concerning ethical principles mainly conveys a faithful
representation in preparing financial statements meaning, the work must be done in a way that’s
complete, neutral, and free from error based on the actual business activities.
2. What does it mean to become “professional” accountant?
Technically, a professional accountant could be described as a person who has expertise in
the field of accountancy; someone who is proficient enough through such credentials involving the
attainment of a formal education achieved as that person graduates from the course of Bachelor of
Science in Accountancy and practical experience by means of on-the-job trainings and work
immersions and is maintained in a way of continuous studying and development, renewal of
license and certificate of accreditation being earned in the required CPD (Continuing Professional
Development) units. However, becoming a professional accountant is more than literally being
able to get the title of being CPA, achieving the necessary education to be fit and be competent for
this specific career. A professional accountant acts like it and not merely entitled as it. Therefore,
becoming a “professional” accountant is not only becoming educated by knowledge but also
becoming someone who embodies ethical practices in their career such as working with integrity
and accountability as their primary moral values that shall be applied always. Also, a professional
accountant is someone who adheres to all his/ her responsibilities and duties both in terms of work
and how one should appropriately behave towards everyone in a working environment.
3. Give one moral dilemma (specific) under Accountancy Ethics and give way to resolve the moral
dilemma.

2. One of the jobs or responsibilities of an accountant is to prepare financial information or
financial statements including of course the preparation of payroll statement wherein separate pay
slips for each employee must be strictly processed and disclosed per individual only. A specific
moral dilemma that may arise in this situation under Accountancy Ethics is when an accountant or
someone associated with the preparation of payroll register reveals, shows, or even inform
someone else of the information of an employee’s salary, premium insurance benefits, and many
others. Here, the moral dilemma was developed as an accountant disobeys the moral principle of
keeping everyone’s compensation confidential which is also a sign of respect to a worker’s privacy
as well as to the management aside from being one of the golden rules in every business activity
or transaction that may occur merely because of one’s nature to do gossips. We cannot deny the
fact that there are really people who’d want to share mostly of what they encounter simply because
they’re fond of chatting and talking about someone else without regards which sometimes is not
given attention because it is not seen, witnessed, or reported and connivance of leaking such
confidential information is being held.
Since this moral dilemma is rampant, the way to start resolving this is beginning the change
by ourselves. It is in our inherent personality to behave and deal with situations in a moral manner
although not everyone would be opened to accepting and adapting these values. I also think it’ll
be helpful if every employee is assessed not only by performance but also by ethical practices from
the time of job application, along their stay in a firm, or even after their termination, contract,
resignation, or retirement. Companies could also alleviate this kind of moral dilemma when there
are specific departments, contacts, or services that are introduced to employees so that they would
be encouraged to report any unethical action that may be executed under accounting. In addition,
to help the employees avoid committing aggressive accounting practices, companies must require
accounting professionals to undergo simultaneous studying through continuing ethics courses to
keep them guided and remind them of its relevance.
4. Give one moral responsibility of an Accountant. Elaborate.
An accountant bears an extensive field of work and a part of it concerns a moral
responsibility to be able to objectively render an opinion as they audit the company’s financial
statements whether it has material misstatements, or it has a clean information. Kinds of opinion
that may be issued by a professional accountant are unqualified (clear financial statements were

3. prepared; the best opinion that could be rendered), qualified (right information are indicated but
some necessary information are questionable as they are not supported by evidence), and adverse
opinion (the financial statements prepared have material misstatements). In a evaluating the kind
of opinion that must be given to a company, accountants are required to independently audit the
financial statements both in fact and appearance. Accountant’s moral responsibility to be
independent by fact means that there shouldn’t be any financial interest in the client and work must
be conducted without any bias- complete, neutral, and free from error. For example, although the
owner of the company is your close friend, an accountant’s moral responsibility is to disregard
those strings of personal relationship and assess their assertions solely based on what is evident to
discern what kind of opinion to give. Therefore, opinions or judgements must be measured not
because of certain interests that are desired to be implied but instead, must be purely in accordance
with their preparation of financial statements. That’s the moral responsibility of honesty,
accountability, and integrity that an accountant must embody.