Moral Agency – Value Creation (Biddle 2006)
Accounting is perceived as a technical practice or as a social practice. 1.8
Macquarie Dictionary / The American Accounting Association (AAA) (1966, P.1) 1.10
Lonergan (2009, p.24)
Theoretical analysis of social impact – Parker et al. (1989, p.10), Miller’s (1994), Carnegie and Napier (1996, p.8) 1.13
Technical and soft skills, knowledge and experience – TSKE SSKE 1.15
Accounting roles, activities and relationships
Accountant in business (IFAC 2005, p.1)
Accountants employed in the large business environment 1.18
Accounting firm environment – public practice
Accounting – Small and medium enterprises (SMEs) – IFAC (2010, p.7) 1.20
Accountants employed in SMEs
Ethics? (Mitchell 2003, p.8)
Professional ethics Mintz (1992)
Situational ethics Bertrand Russell (1955)
Governance (Carnegie 2009, p.8) – conformance & performance 1.28
Corporate governance (OECD April 1999 and valid for OECD 2004) – ‘Direction’ & ‘Control’ Enterprise Governance – ‘Corporate Governance’ & ‘Business Governance’ (IFAC PAIB, 2004) 1.30
‘Public Trust’ vs ‘professional judgments’
Attributes of the profession Greenwood (1957)
– 1.32 A Systematic body of theory and Knowledge 1.32 An extensive education process 1.33 An ideal of service to the community 1.34 A high degree of autonomy and independence 1.34 A code of ethics for members 1.35 A distinctive ethos or culture 1.36 Application of professional judgment 1.37 The existence of governance body
(NOTE 1) 1.36
Professional judgment in accounting decisions Schon (1983) 1.38
Professions – The ‘market control’ view Allan (2006) The evolution of the profession West (2003) Abbott (1988, p.5) Larson (1977, p. xvii) 1.42
Accounting under challenge (Chambers 1973, p.166)
Regulation – CLERP 9 Act 2004
Restoring credibility to accounting – Rebuilding Public Confidence in Financial Reporting (IFAC)
Code of Conduct – A company ethical guidelines will vary with the cultural values of each individual organisaiton, and emphasise those values and behaviours that are most critical to the organization. NOTE 1
Accounting is recognized as a profession. The case for professional status is often made or defended by reference to the attributes of a profession. These attributes serve as criteria for professionalism as the following outline indicates in the case of accounting
The systematic body of knowledge and theory is the core knowledge of accounting which is normally learned in an undergraduate or a postgraduate degree course. Such knowledge is developed through the practice of bookkeeping and accounting developed in the past, with writers who postulate different theories of accounting. They typically include the double-entry bookkeeping system, the conceptual framework for financial reporting, the positive accounting theories, the efficient market hypothesis and other related theories such as audit independence. In Australia, the body of knowledge can be found in disciplines such as financial accounting, accounting theory, corporate accounting, management accounting, auditing, taxation, corporate law, business law, quantitative methods and economics. 2.
The education system which represents the learning process for accountants is accredited by professional bodies to ensure that they are at the right standards and quality. 3.
The service ideal refers to the professionalism required of accountants. Accountants are expected to exercise professional care and possess the competence required. Moreover, they should be able to discharge their duties for the public interest. The code of Ethics for Professional Accountants refers to the fundamental principles of professionalism. 4.
Accountants have the autonomy to ensure high standards of competence and behaviour. They have to right to impose membership regulations and examination criteria, and to...
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