ACC 202 Week 6 Discussion | Southern New Hampshire University
- Southern New Hampshire University / ACC 202
- 12 May 2022
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- Accounting & Economics Assignment Help / Managerial Economics
ACC 202 Week 6 Discussion | Southern New Hampshire University
6-2 Discussion: Professional Practice
When
discussing and evaluating professional ethics, it is essential to understand
the purpose, terminology, and repercussions of professional misconduct. The
American Institute of Certified Public Accountants (AICPA) code of professional
conduct is the gold standard for defining professional conduct in accounting;
it is therefore important for business professionals to be familiar with. In
this discussion, you will explore one principle in depth and discuss it and
others with your peers.
First,
select one of the following principles of professional conduct to examine in
the AICPA Code of Professional Conduct document:
·
Responsibilities
·
Public interest
·
Integrity
·
Objectivity and independence
·
Due care
·
Scope and nature of services
Then, for
your initial post, reflect on what appropriate practice of your selected
principle would look like in the field, and also on some potential examples of
violations of the principle. Use the following questions to help guide your
reflections:
·
How would you define and describe
your selected principle in your own words?
·
What value does the principle bring
to practitioners, businesses, and clients?
·
What is an example of a difficult
situation that a practitioner may face related to your selected principle, and
what would an ethical response to the situation be? Why might a practitioner be
tempted to, or accidentally, not take an ethical course of action?
In your
response to at least two peers, discuss actions and consequences that should be
taken in response to a violation of their selected principle. Use the following
questions to help guide your responses:
·
What actions or strategies could you
or others take to remediate the ethical issues?
·
What are some repercussions of not
abiding by your peer's selected principle from a legal, business, or general
professional perspective?
To
complete this assignment, review the Discussion Rubric.
An
auditor that is shortsighted might be swayed by a client. However, most
auditors understand that getting caught for one audit would mean the ruin of
the entire firm. Auditors are nothing without credibility. See what happened
with Author Anderson.
Was
a short introduction included?: Include a brief intro into the topic.
Were
the following requirements covered in the initial post:
1)
Select one of the principles (responsibilities, public interest, integrity,
objectivity and independence, due care, or scope and nature of services) . You
selected one of the principles. You provided a case that demonstrated you
understanding of this principle and how it might be violated.
2)
How would you define and describe your selected principle in your own
words? You did define, describe or explain the principle in your
own words.
3)
What value does the principle bring to practitioners, businesses, and
clients? You did describe what value the principle brings to practice.
4)
What is an example of a difficult situation that a practitioner may face
related to your selected principle, and what would an ethical response to the
situation be? You did provide an example of a difficult situation. You did
provide an ethical response to the situation.
5)
Why might a practitioner be tempted to, or accidentally, not take an ethical
course of action? You did explain why a practitioner may be tempted to
take an unethical course of action.
In
your response to at least two peers, discuss actions and consequences that
should be taken in response to a violation of their selected principle.
Discuss, what actions or strategies could you or others take to remediate the
ethical issues? What are some repercussions of not abiding by your peer’s
selected principle from a legal, business, or general professional perspective?
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