Ethics Flashcards
1
Q
How do you address a question on Ethics?
A
A) State what ethical issue has been violated (use key words)
B) What is its impact? (Why does it matter?)
C) What is the counter-argument?
2
Q
What are the 5 elements of the professional & accounting ethical framework?
A
1) professional behavior- comply w/ laws and regulations and not discredit profession
2) integrity - straightforward and honest
3) professional competence and due care- maintain professional knowledge and be diligent
4) confidentiality- don’t disclose business info w/o authorization, or to benefit yourself
5) Objectivity- no bias, conflict of interest or undue influence
3
Q
What are some principles of Business Ethics?
A
Fair/unfair treatment Just/unjust treatment Honest/corrupt Duty/breach of duty Privacy/intrusion Truthful/untruthful Responsible/irresponsible Diligent/negligent
