David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Ezio Di Nucci
Jack Alan Reynolds
Learn more about PhilPapers
Journal of Business Ethics 99 (S1):49-59 (2011)
The American Institute of certified public accountants (AICPA) has promulgated a Code of Professional Conduct , which has served as the primary ethical standard for public accountants in the United States for more than 20 years. It is now out of date and needs to be replaced with a code of ethics. Just as U.S. generally accepted accounting principles are being migrated toward “principles-based accounting” as part of a convergence with international financial reporting standards, a similar process needs to occur with ethics. This article organizes the primary rules of the AICPA Code around five essential virtues: objectivity, integrity, inquisitiveness, loyalty, and trustworthiness. These virtues correspond to the general principles set forth in the Code of Ethics for Professional Accountants of the International Federation of Accountants (IFAC). From this virtue ethics perspective, various rules of the AICPA Code are critiqued as being inadequate at best, and poorly crafted at worst. The article concludes with the proposition that principles-based ethics serves the profession and the financial reporting process better than the current rules-based approach
|Keywords||Ethics Accounting standards Rules-based Principles-based International accounting|
|Categories||categorize this paper)|
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
|Through your library|
References found in this work BETA
Mark S. Schwartz (2002). A Code of Ethics for Corporatecode of Ethics. Journal of Business Ethics 41 (1-2):27 - 43.
J. Thomas Whetstone (2001). How Virtue Fits Within Business Ethics. Journal of Business Ethics 33 (2):101 - 114.
Surendra Arjoon (2000). Virtue Theory as a Dynamic Theory of Business. Journal of Business Ethics 28 (2):159 - 178.
Alexander Bertland (2009). Virtue Ethics in Business and the Capabilities Approach. Journal of Business Ethics 84 (1):25 - 32.
Bruce R. Gaumnitz & John C. Lere (2002). Contents of Codes of Ethics of Professional Business Organizations in the United States. Journal of Business Ethics 35 (1):35 - 49.
Citations of this work BETA
Madeline Ann Domino, Stephen C. Wingreen & James E. Blanton (2015). Social Cognitive Theory: The Antecedents and Effects of Ethical Climate Fit on Organizational Attitudes of Corporate Accounting Professionals—A Reflection of Client Narcissism and Fraud Attitude Risk. Journal of Business Ethics 131 (2):453-467.
Similar books and articles
Irene N. McCarthy (1997). Professional Ethics Code Conflict Situations: Ethical and Value Orientation of Collegiate Accounting Students. [REVIEW] Journal of Business Ethics 16 (12-13):1467-1473.
Terri L. Herron & David L. Gilbertson (2004). Ethical Principles Vs. Ethical Rules. Business Ethics Quarterly 14 (3):499-523.
John D. Neill, O. Scott Stovall & Darryl L. Jinkerson (2005). A Critical Analysis of the Accounting Industry's Voluntary Code of Conduct. Journal of Business Ethics 59 (1-2):101 - 108.
Curtis Clements, John D. Neill & O. Scott Stovall (2009). The Impact of Cultural Differences on the Convergence of International Accounting Codes of Ethics. Journal of Business Ethics 90 (3):383 - 391.
Curtis Clements, John D. Neill & O. Scott Stovall (2009). An Analysis of International Accounting Codes of Conduct. Journal of Business Ethics 87 (1):173 - 183.
Domènec Melé (2005). Ethical Education in Accounting: Integrating Rules, Values and Virtues. [REVIEW] Journal of Business Ethics 57 (1):97 - 109.
David Satava, Cam Caldwell & Linda Richards (2006). Ethics and the Auditing Culture: Rethinking the Foundation of Accounting and Auditing. [REVIEW] Journal of Business Ethics 64 (3):271 - 284.
Jeanne M. David, Jeffrey Kantor & Ira Greenberg (1994). Possible Ethical Issues and Their Impact on the Firm: Perceptions Held by Public Accountants. [REVIEW] Journal of Business Ethics 13 (12):919 - 937.
Allison Collins & Norm Schultz (1995). A Critical Examination of the AICPA Code of Professional Conduct. Journal of Business Ethics 14 (1):31 - 41.
Sharon Green & James Weber (1997). Influencing Ethical Development: Exposing Students to the AICPA Code of Conduct. [REVIEW] Journal of Business Ethics 16 (8):777-790.
Jeffrey R. Cohen & Laurie W. Pant (1991). Beyond Bean Counting: Establishing High Ethical Standards in the Public Accounting Profession. [REVIEW] Journal of Business Ethics 10 (1):45 - 56.
Jeffrey R. Cohen, Laurie W. Pant & David J. Sharp (1992). Cultural and Socioeconomic Constraints on International Codes of Ethics: Lessons From Accounting. [REVIEW] Journal of Business Ethics 11 (9):687 - 700.
Cristi K. Lindblom & Robert G. Ruland (1997). Functionalist and Conflict Views of AICPA Code of Conduct: Public Interest Vs. Self Interest. [REVIEW] Journal of Business Ethics 16 (5):573-582.
Jack Flanagan & Kevin Clarke, Beyond a Code of Professional Ethics: A Holistic Model of Ethical Decision-Making for Accountants.
James Poon Teng Fatt (1995). Ethics and the Accountant. Journal of Business Ethics 14 (12):997 - 1004.
Added to index2012-01-07
Total downloads40 ( #103,358 of 1,907,911 )
Recent downloads (6 months)4 ( #195,456 of 1,907,911 )
How can I increase my downloads?