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 It is now out of date and needs to be replaced with a code of ethics.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. (shrink)

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 It is now out of date and needs to be replaced with a code of ethics.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. (shrink)

What does it look like when an organization tentatively steps away from an exclusively rules-based regime and begins to attend to both rules and principles? What insights and guidance can ethicists and ethical theory offer? This paper is a case study of an organization that has initiated such a transition. The American Institute of Certified Public Accountants has begun a turn toward the promotion of ethical principles and best practices by adding a “conceptual framework” to its existing Code of Professional (...) Conduct. This conceptual framework calls upon its members to intentionally increase their awareness of significant threats to their compliance with its rules of conduct and to establish safeguards to offset or eliminate those threats. To this end, each member is required to regard every questionable situation, circumstance, transaction or relationship by attempting to view it through the eyes of an imagined reasonable third party. This paper examines this protocol theoretically and practically. First, we frame this analysis within the principles and ethical concepts that inform the professional ethics of accountants. Second, we critique the AICPA’s long-standing rules-based approach to its Code. Third, we examine the new conceptual framework with a view toward its potential for the promotion of a more principles-based approach to the professional ethics of the accounting profession. Fourth, we give attention to the notion of the “reasonable and informed third party,” which has been embedded in the new conceptual framework, and consider how two schools of thought—Adam Smith’s modernist “impartial spectator” concept and Emmanuel Lévinas’ postmodern phenomenology in regard to “the Other”—may offer theoretical support and clarity for this epistemic exercise. Finally, we point out several ways in which the AICPA’s commitment to its new conceptual framework could be strengthened and enhanced. (shrink)

In recent years, there has been an increase in the adoption of Shari’a in Europe and North America as an arbitration protocol for the resolution of potential contractual disputes. In a largely secular Western business environment, this reality raises corporate policy implications for business organizations. In particular, questions are raised about whether Shari’a is by nature too unpredictable—and too dismissive of women’s rights—to be properly and ethically permitted by Western companies as a possible dispute resolution alternative. This article examines the (...) dynamics and factors that are involved as corporate managers decide whether Shari’a arbitration ought to be banned entirely from contractual negotiations. Arguments for and against the inclusion of a Shari’a arbitration clauses in commercial contracts and contract negotiations are presented. The article concludes that while managers should exercise great prudence and consider the moral implications of negotiating arbitration clauses, an organizational ban of the use of faith-informed arbitration generally, or Shari’a in particular, would be neither morally required nor optimally serve the interests of the organization or its stakeholders. (shrink)

Before he became infamous for character assassination disguised as literary executorship, Rufus W. Griswold established his reputation in America as a critic and early literary anthologist. In 1842, Griswold released the first edition of his massive Poets and Poetry of America with prominent Philadelphia publisher Carey and Hart. At nearly five hundred royal octavo pages—complete with elaborate frontispiece; ornamental title page with an etching by George Hewitt Cushman after Thomas Creswick; twelve-page, double-columned “historical introduction”; authorial headnotes; and selections of verse (...) from more than one hundred poets active in the roughly seventy years since American independence—Griswold’s volume was... (shrink)

Can philosophy help ordinary people confront their personal or interpersonal problems of living? Can it help a couple whose marriage is on the rocks, or someone going through a midlife crisis, or someone depressed over the death of a significant other, or who suffers from anxiety about making a life change? These and many other behavioral and emotional problems are ordinarily referred to psychologists, psychiatrists, clinical social workers, or other mental health specialists. Less mainstream is the possibility of consulting a (...) philosophical counselor or practitioner. Yet, there is presently a steadily increasing, world-wide movement among individuals with postgraduate credentials in philosophy to harness their philosophical training and skills in helping others to address their life problems. But is this channeling of philosophy outside the classroom into the arena of life a good idea? Are philosophers, as such, competent to handle all or any of the myriad emotional and behavioral problems that arise in the context of life; or should these matters best be left to those trained in psychological counseling or psychotherapy? Through a diverse and contrasting set of readings authored by prominent philosophers, philosophical counselors, and psychologists, this volume carefully explores the nature of philosophical counseling or practice and its relationship to psychological counseling and psychotherapy. Digging deeply into this relational question, this volume aims to spark more rational reflection, and greater sensitivity and openness to the potential contributions of philosophical practice. It is, accordingly, intended for students, teachers, scholars, and practitioners of philosophy, counseling, or psychotherapy; as well as those interested in knowing more about philosophical counseling or practice. (shrink)

The disagreement over whether Aristotle recognized rights in some form unavoidably involves disagreement over what rights are, and the theory of rights itself is still highly contested. There is no consensus concerning how " right'? is to be defined, how rights are to be theoretically grounded, or how rights theory is to be applied in particular circumstances. This is not, however, a good reason to dismiss the issue of whether there are rights in Aristotle: for Aristotle, like modern rights theorists, (...) is concerned about the moral and legal status of the individual within the community, and he expresses this in terms of claims of justice. The issue is worthy of study not only because it can lead to a deeper understanding of Aristotle's conceptions of justice and the common good, but also because it may shed valuable light on the theoretical foundations of human rights, since he offers a theory of political justice which is based on a metaphysical theory of human nature. (shrink)

This essay explores the significance and implications of the causal theory of reference for the current debate on the necessity and exchangeability of the divine title ‘Father’ in the discourse of the Church. Identifying ‘Father’ as a vocative term historically grounded in the speech of Jesus and his Apostles, the authors assert that it successfully refers to God, functioning very much like a proper name. They also identify linguistic barriers to its replacement by other terms.

Corporate codes of conduct frequently impose a duty of loyalty upon employees. l examine the notion of loyalty in general, and loyalty in the workplace in particular. I conclude that unless loyalty is defined and articulated in favor of a larger social project (rather than in favor of aperson, a set of ruIes, or other entity), efforts to encourage loyalty will be a source of epistemic distortion at best, and oppression at worst.

Corporate codes of conduct frequently impose a duty of loyalty upon employees. l examine the notion of loyalty in general, and loyalty in the workplace in particular. I conclude that unless loyalty is defined and articulated in favor of a larger social project (rather than in favor of aperson, a set of ruIes, or other entity), efforts to encourage loyalty will be a source of epistemic distortion at best, and oppression at worst.

For this reason also the question is asked, whether happiness is to be acquired by learning or by habituation or some other sort of training, or comes in virtue of some divine providence or again by chance. Now if there is any gift of the gods to men, it is reasonable that happiness should be god-given, and most surely god-given of all human things inasmuch as it is the best. But this question would perhaps be more appropriate to another inquiry; (...) happiness seems, however, even if it is not god-sent but comes as a result of virtue and some process of learning or training, to be among the most god-like things; for that which is the prize and end of virtue seems to be the best thing in the world, and something godlike... (shrink)

Some people have found my distinction between meaning and significance useful. In the following revision of that distinction, I hope to improve its accuracy and perhaps, therefore, its utility as well. My impulse for making the revision has been my realization, very gradually achieved, that meaning is not simply an affair of consciousness and unconsciousness. In 1967, in Validity in Interpretation, I roundly asserted that “there is no magic land of meanings outside human consciousness.” 1 That assertion would be true (...) if, godlike, we could oversee the whole of human consciousness, past, present, and future. But we language users, being limited creatures, intend our verbal meanings to go beyond what we can pay attention to at any moment. We intend our meanings to transcend our momentary limitations of attention and knowledge. Hence there is a land of meanings beyond past and present human consciousness—the land of the future. What I should have said originally is that there is no magic lance of meanings beyond the whole extent of human consciousness, past, present, and future. This correction of my original statements leads to a deepening of the concept of meaning.In 1960 I first proposed the analytical distinction between two aspects of textual interpretation. One of them, meaning, was fixed and immutable; the other, significance, was open to change.2 I acknowledged that significance, changeable or not, is the more valuable object of interpretation, because it typically embraces the present use of texts, and present use is present value. But I argued that, in academic criticism, the significance and use of a text ought to be rooted in its fixed meaning, since otherwise criticism would lack a stable object of inquiry and would merely float on tides of preference. The claim that one reader’s opinion is as valid as another’s would then be right, despite any indignant protest to the contrary. I did not wish to dissuade people from floating on the tides of preference if that was what they wished to do. I intended to provide a firm justification for those who wished to pursue historical scholarship. 3 I also assumed that even those who did not pursue historical scholarship might sometimes wish to exploit the possibility of historically fixed meaning. In my experience, even antiauthorial theorists sometimes with to regard their own texts as having a historically fixed meaning and will complain if someone misunderstands that meaning. 1. E. D. Hirsch, Jr., Validity in Interpretation, p. 4.2. See my “Objective Interpretation,” PMLA 75 : 463-79.3. See, for instance, W. K. Wimsatt, Jr., and Monroe C. Beardsley, “The Intentional Fallacy,” in Wimsatt, The Verbal Icon: Studies in the Meaning of Poetry, which ends:We submit that this is the true and objective way of criticism, as contrasted to what the very uncertainty of exegesis might tempt a second kind of critic to undertake: the way of biographical or genetic inquiry …. Our point is that such an answer to such an inquiry would have nothing to do with the poem “Prufrock”; it would not be a critical inquiry. Critical inquiries, unlike bets, are not settled in this way. Critical inquiries are not settled by consulting the oracle. [P. 18] E. D. Hirsch, Jr., professor of English at the University of Virginia, is the author of numerous works, including Validity in Interpretation and The Aims of Interpretation. His previous contributions to Critical Inquiry are “Against Interpretation?”, “The Politics of Theories of Interpretation, and “Stylistics and Synonymity”. (shrink)