Accounting Ethics

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Accounting Ethics Paper

⚫ For some tasks in Accounting Ethics Paper, there is NO right or wrong answer.

However, your team should clearly and logically provide arguments and/or opinions based

on reading, thoughts, discussion, research, and analyses.

⚫ Accounting Ethics Paper is an opportunity to (1) read carefully key provisions of

SOX and AICPA Code of Professional Conducts (this is why your team is asked to

summarize key provisions), and (2) ponder roles of legislation, professional code of

conducts, accounting ethics, and their relations in providing reliable and

transparent financial reporting.

⚫ What is provided in the paper format is just an overall framework. Your team should

make your team’s work like a paper rather than answering questions in the paper format.

✓ Section numbers of SOX and/or AICPA Code of Professional Conducts are only provided for

students’ convenience, and do NOT include in the paper.

⚫ Some examples are already provided in SOX and AICPA Code of Professional

Conducts, but your team may need to conduct further research to look for relevant

examples.

✓ If your team can find examples in SOX and AICPA Code of Professional Conducts, your team may

use those examples.

✓ Using examples, students think about actual situations where the subject matters or provisions

apply.

General

⚫ Summarize (i.e., should NOT copy and paste but summarize in own

words) by referring to relevant sections of Sarbanes-Oxley Act of 2002

- PCAOB

- Auditor independence

- Corporate responsibility

- Enhanced financial disclosure

- Analysts conflicts of interest

* Do not need to refer to previous legislations but focus on new, added and/or

amended clauses

2. Sarbanes-Oxley Act of 2002 (1/2)

⚫ Sarbanes-Oxley Act of 2002 has been effective in providing more

reliable and transparent financial reporting?

- 6 SOX papers provide conflicting views on effectiveness of Sarbanes-Oxley

Act of 2002 in providing more reliable and transparent financial reporting

- Hence, discuss in own words and reach conclusion based on thoughts,

discussion, research, and analyses

- MUST use 6 SOX papers in the paper

- Your team is supposed to take one side (i.e., effective vs. not effective)

based on sound examples and/or evidence

- Writing MUST be based on compelling argument based on supporting

research and analyses, NOT simply based on one’s thoughts

2. Sarbanes-Oxley Act of 2002 (2/2)

⚫ Discuss (i.e., should NOT copy and paste but discuss in own words)

by referring to relevant sections of AICPA Code of Professional

Conducts (and textbook)

- Purpose of AICPA Code of Professional Conducts

- Ethical conflicts and necessary steps to resolve ethical conflicts

- 6 Principles of AICPA Code of Professional Conducts

* Responsibilities

* The public interest

* Integrity

* Objectivity and Independence

* Due care

* Scope and Nature of services

3. AICPA Code of Professional Conducts (1/2)

⚫ Regarding 6 Principles of AICPA Codes of Professional Conducts,

discuss following in own words and reach conclusion based on

thoughts, discussion, research, and analyses

- How 6 Principles of AICPA Code of Professional Conducts would help to

provide more reliable and transparent financial reporting?

- Writing MUST be based on compelling argument based on supporting

research and analyses, NOT simply based on one’s thoughts

⚫ Summarize (i.e., should NOT copy and paste but summarize in own

words) by referring to relevant sections of AICPA Professional Code of

Conducts (and textbook) and provide specific examples

- Conflicts of interest

- Knowing misrepresentations

- Subordination of judgment

- Conceptual framework for independence

3. AICPA Code of Professional Conducts (2/2)

⚫ Definition of Accounting Ethics

- Discuss in own words based on textbook and own research

⚫ Discuss whether legislation and/or professional codes of conducts alone are sufficient

for reliable and transparent financial reporting

- Discuss in own words based on thoughts, discussion, research, and analyses

- Writing MUST be based on compelling argument based on supporting research and analyses,

NOT simply based on one’s thoughts

⚫ If agree, discuss what additional roles Accounting Ethics would play in providing reliable

and transparent financial reporting

- Discuss in own words based on thoughts, discussion, research, and analyses

- Please use specific examples or evidence to support argument

- Writing MUST be based on compelling argument based on supporting research and analyses,

NOT simply based on one’s thoughts

⚫ If not agree, discuss how Accounting Ethics would help legislation and/or professional

codes of conducts in making financial reporting more reliable and transparent

- Discuss in own words based on thoughts, discussion, research, and analyses

- Please use specific examples or evidence to support argument

- Writing MUST be based on compelling argument based on supporting research and analyses,

NOT simply based on one’s thoughts

⚫ This part is the highlight of the entire paper so your team needs to dedicate much

to this part

4. Accounting Ethics & Relation Among Legislation, Professional Codes of Conduct, and Accounting Ethics

Assume readers are people without sufficient knowledge about accounting

1st draft should be near completion since there will be ONLY 1 week until final draft submission after meeting with instructor

Slide 1: Accounting Ethics Paper
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Slide 8: Assume readers are people without sufficient knowledge about accounting 1st draft should be near completion since there will be ONLY 1 week until final draft submission after meeting with instructor