DISCUSSION RESPONSE 1

Discussion Response

Name

Institution

Date
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Response

Hello, I hope you are fine. Professional ethics is the discipline that regulates activities

within each particular profession. In this sense, each science has created different

professional or deontological codes that systematically unite the moral duties and obligations

that assist their professionals. In the field of accounting, they have the IFAC Code of Ethics

(International Federation of Accountants), which compiles a series of high-quality principles,

duties, and ethical standards to guide the practice of accountants worldwide (Thomas, 2018).

This code is crucial, especially to the sheriff's office department that deals with the financial

aspect. The fundamental principles needed here are those that support it are integrity,

objectivity, professional competence and diligence, confidentiality, and professional

behavior. Integrity implies being frank and honest in all professional and business

relationships, while objectivity is based on not allowing prejudices, conflicts of interest, or

undue influence of third parties to prevail over professional or business judgments.

On the other hand, professional competence and diligence refer to maintaining the

knowledge and skills necessary to ensure that clients receive high-quality professional

services. Confidentiality requires not to disclose the information of third parties obtained as a

result of professional and business relationships unless there is a legal right or duty to do so

(West, 2018). In contrast, professional behavior complies with the legal and regulatory

provisions applicable to the exercise, and avoid any action that discredits the profession.

However, the most common are those trade associations, aware of the importance of

ethics and, based on international regulations, develop their deontological codes to regulate

the actions of the country's professionals. The accountants' Code of Ethics establishes

responsibilities and indicates the standards of conduct that accountants must observe when

relating to society and each other. Also, it emphasizes that the accounting professional's
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responsibility goes beyond the needs of a client, reaching the public interest, that is, the

common good of society and the institutions it serves.

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References

Thomas, S. (2018). undefined. Research on Professional Responsibility and Ethics in

Accounting, 169-192. https://doi.org/10.1108/s1574-076520180000021006

West, A. (2018). Accounting ethics (Including the profession’s code of ethics and

commitment to the public interest). Encyclopedia of Business and Professional Ethics,

1-5. https://doi.org/10.1007/978-3-319-23514-1_213-1