The lessons can further be applied toward internal controls and building an ethical tone-at-the-top as part of the 2013 Committee of Sponsoring Organizations internal control framework.Dov FischerThe Handbook of High Frequency Trading
We show how accounting educators can incorporate the lessons from the scandal to reinforce the importance of organizational trust, simplicity, and personal ethical responsibility in the face of a culture of legalism, complexity, and herd mentality. Lessons from the HFT scandal can be applied towards...
Why is it important for the clients of professional accountants to be ethical? Discuss the limitations of financial statement analysis. What can be done to make financial ratios more relevant? How can a potential investor or creditor analyze financial state...
1. How should ethics be incorporated into making accounting judgments? 2. Why is ethics important? Why do you think measuring cost behavior is important to managerial accountants? Why should disciplines like accounting require high moral and ethical behavior? Why is it important for the clients o...
Corporate accountability involves being answerable to an organization's stakeholders for all actions and results. Corporate accountants are accountable for ensuring that the information contained in the company's financial reports is correct. Accountants are also responsible for preparing financial statements ...
A fiduciary may be responsible for the general well-being of another (e.g., a child’s legal guardian), but the task usually involves finances—for example, managing the assets of another person or a group of people. Money managers, financial advisors, bankers, insurance agents, accountants,...
Certified Public Accountants’ (CPA) specializes in accounting and may or may not choose to specialize in taxes. Moreover, unlike attorneys and CPAs, all EAs specialize in taxation. Are they bound by any ethical standards? EAs must abide by the conditions of the Department of Treasury’s Ci...
Over the last two decades, global wealth has risen. Yet material affluence has not translated into time affluence. Most people report feeling persistently ‘time poor’—like they have too many things to do and not enough time to do them. Time poverty is
It’s not easy to get your CPA license. It’s a long, demanding process because it ensures the highest standards of both fiscal and ethical practices. If you’re looking to increase your earning potential, become a...
“Good should be more” is the mantra that expresses this force. Something can always be more ethical; the ethics of an organization can always be better. Even when the organization is ethical, the expectation is that the organization should further improve its ethics; the present ethics of ...