REsponse colin

REply to studence reponse in 150 words

Ethics are what provides order to the economy. Without the ethics integrity of the workers in an industry, business could actually suffer from the malpractice or dishonesty of the unethical behavior.

The Statement of Ethical Professional Practice provides the layout of ethical responsibilities that are expected to be followed by accountants in industry firms. The established ethical standards are designed to ensure businesses, including employees and managers, are operating with integrity and honesty, with proper reporting procedures of unethical actions. These principles are important to business because they provide stability to the economy through ensuring professional competence, confidentiality, and honest disclosure of information.