This website uses cookies to improve your experience while you navigate through the website. As a result, the business risks to the AA when there are disagreements with the client about financial statement will increase. Philosophers, religious institutions and other groups or personnel defined ideal ethical values by various methods. Here is another example, a former staff named Clayton was fired in November 2001 because he posted his comments about overstating profits in an employee chat room (Jennings, 2009, p. 291). To obtain research about the various types of reporting relationships, independence, conflicts that arise from these relationships and what services are to be provided in the internal audit practice, a survey was conducted where approximately 1600 Chief Audit Executives responded. In contrast, the ethical audit is more qualitative or subjective in nature, where it requires consideration of multiple different perspectives to gain an overall understanding of a companys commitment to, and compliance with, ethics. Ethics is a branch of philosophy considering moral principles that govern human behavior to truth or falseness of the acts or good or evil outcomes of these acts. A qualified person, who inspects the accounting records and the practices of an organization, is the basic definition of a Company Auditor. Some times it is not breach of law. However, the former external auditor would know what the existing auditors would examine when conducting an audit. Economists reached that conclusion from Enrons annual report in which revenues grew from under $10 billion in the early 1990s to $139 billion in 2001 and Enron as a new business star ranked fifth on the Fortune 500. The auditor should demonstrate professional scepticism---being able to form an opinion. These areas that would be analyzed would include assets, accuracy of financial information, and ensuring that government and industry standards and regulations are being followed. Describe the importance of preschool education for the child, family, and society at large. 2-4-3 Factors contributed to unethical behaviors Ethics can be defined in two definitions. The law promulgated four fundamental changes in the relationship between auditors and public companies. Because of this working environment, few employees at Enron actually understood their jobs. Professional ethics must extend beyond moral principles. In many cases, compliance problems stem from ethical lapses, although a company may be fully compliant yet still engage in unethical practices. In accounting and auditing, professional ethics is a tool to measure the good or bad behavior, and also it is a guideline to help accountants have a good professional ethical habit, to determine the professional accountant responsibility to individual, investors, and the public. To try to save AAs important client and also AA attracted by financial interest for their own, AA act in illegal way. We propose the application of structuration theory in conjunction with stakeholder theory and a responsibility ethic. Academics & professional competence: You cannot just select anybody to do the audit of your company. Those accounting fair tale lasting for almost 2 years, then had been exposed to the truth profits were overstated over 80%. Shall be prudent in the use and protection of information acquired in the course of their duties. As mention in Mollie book 2010, over the past few years ethics concept became very common and widespread than in the first few years of the twenty-first century. Carry out routine and regular ethical audits, where the ability to monitor continuing performance will help to ensure that acceptable ethical standards are being upheld. Before the fall of Enron in 2002, there were five major auditing firms and now the number is reduced to four because of the fall of Arthur Anderson which was the auditing firm that was responsible for auditing Enron. How to use the findings from an ethical audit? The key focus of professional rules is the norms. 2-3 Accounting and audit profession In most cultures, ethics are connected with divine origins: Babylonian civilization received laws of Hammurabi from sun god, In Greek civilization, Plato says that god Zeus gave morality to help mankind, Manusmriti Samhita incorporates earliest code of social and legal ethics in India, In fact both religion and ethics serve a common need: society, Societies are built on the plank of co-existence and mutuality. In addition, it will define Arthur Anderson/Enron case study, the ethical characteristics that auditors should exhibit. So it is important to look at one standard of ethics which is defined and identified to ensure that they are reasonable and well-founded. The conceptual framework is a set of principles-based provisions in Section 120, The Conceptual Framework of the Code that all PAs are required to apply to deal with ethics and independence issues.It applies to all PAs and outlines a three-step approach involving identifying, evaluating and addressing threats to compliance with the fundamental principles and, where applicable, independence. After experience a series financial scandals, the International Ethics Standards Board for Accountants (IESBA) issued a rewritten Code of Ethics for Professional Accountants in June 2005. Confidentiality: Since auditors get excess information vital to any business, every auditor must ensure client confidentiality, and no information carries to any irrelevant resource. The strategic importance of ethics auditing includes all of the following EXCEPT a. assessment for reallocating resources. In 20th century, the main concern related to ethical issues and ethics on accounting jobs but this claim is challenged by regulators, lawyers, investors and stockholders. Analyze the effects of preschool education on the development of the socio-emotional well-being of a child. (Manuel, Claire, Thomas and Michael, 2010), Code of Ethics: or auditors there is an official. Definitions and Discussion The law separating consulting and accounting work, dividing investment banking from analysts and making disclosure of stock holdings and investment banking ties more prominent in research reports, potentially term limiting auditor contracts for individual companies, requiring outside entities be incorporated into financial disclosure statements so as not to understates liabilities and overstates earnings, and encourages diversity by employees with 401Ks. Countless international auditing firms are operating which lend their review services to large- and small-scale companies. An audit is typically the detailed evaluation of a companys financial statements, operational procedures, and policies to ensure that everything complies with the state laws and evaluates the companys overall financial health. In this lesson, you will learn about the Public Company Accounting Oversight Board's (PCAOB) ethical requirements related to auditor . Our academic experts are ready and waiting to assist with any writing project you may have. Introduction 542691 An audit is essential for those seeking investments from banks and other entities. Employees were measured on their abilities to cheat. From the ideology and behavioral performance of accounting practitioners, we can see that the level of professional ethics of employees directly affects the efficiency of work and the response. b. boosting profits and reducing risk. In this way you will have something to audit against. A professional accountant is responsible for satisfying the needs of their clients or employers. Auditing & Attestation: PCAOB Ethics Requirements. Ethical auditing has become something very important for companies in order to improve its performance. For example, in Phar-Mor, the company knew that the auditors would spend a lot of time looking at inventory due to Phar-Mor being in a retail industry. Integrity 2. Enron had a long relationship with its outside auditor Arthur Andersen (AA) since 1985. AAs in-house counsel advised the destroyed of documents (Jennings, 2009, p.358). The article aims to presents the relevant aspects regarding the evolution of ethical and professional code in the field of financial audit, respectively if the observance or deviations of these . Via its special features, the profession as objectivity, integrity and keeping public interest protect the exclusive benefit. If you need assistance with writing your essay, our professional essay writing service is here to help! It ended long period of self-regulation by accounting profession. The continuance of work and keeping this capital are of great importance. Necessary cookies are absolutely essential for the website to function properly. Ethical auditing is impartial, third-party supportable process to understand, measure, report on, and help improve an organizations social and environmental performance. Professional Ethics - Part III. Employees were discouraged from expressing doubts about the financial condition of the company as well as decisions made by the executives. This profession dates back to the early human being civilization. This caused a culture of deception. Accountant journal. d You're dealing with sensitive information. Until late 2001, almost all business economists and observers including some from Wall Street believed it is an outstanding success to change main business. To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on UKEssays.com then please: Our academic writing and marking services can help you! Arthur Andersen was an international firm of 36,000 employees but dismissed after the collapse of Enron. In this regard ethics is one of the most important things for an auditor. "Ethical auditing is impartial, third-party supportable process to understand, measure, report on, and help improve an organization's social and environmental performance". For example, it had a rating system which required that 20 percent of all the employees had to be rated as below requirements every year and then were encouraged to leave Enron (Jennings, 2009, p. 288). Professionalism, according to the Merriam-Webster Dictionaries, is defined as the conduct, aims, or qualities that characterize or mark a profession or a professional person. A lot of time may be spent interviewing managers and employees. In order to secure AAs own financial interest, AA participated the cheat game with Enron together on several years annual reports. Enron case had led to collapse one of the big 5 auditing firms, which is Arthur Anderson. Ethics topics are increasing popularity in the literature concerning the industry the. As a result law will use the words ethics, accountability, integrity and transparency in the financial reporting process which required code of ethics that laying down minimum standards of ethics. Companies have started ethical auditing after noticing many failures in following the business law that the company should follow, which may cause mistrust or loss for the company. ethics auditing. 4. The same concept applies to auditors. So, employees at Enron were quiet. The following guide focuses on the reasons for and the ways in which to conduct an ethics-related audit, together with useful tips for the better detection of unethical standards within your company or organisation. Through regular reports and findings from ethical audits, you can educate your workforce and initiate behavioural change long before any impropriety becomes a much bigger issue for all those involved. 2-5-3 Professional Competence and Due Care To ensure customers received competent professional services, it is required a professional accountant can provide professional knowledge and skill at the related. Set Expectations Registered Office: Level 30, The Leadenhall Building, 122 Leadenhall Street, London, EC3V 4AB, London Cambridge Aberdeen Manchester Birmingham, Branding, Digital & Website by Rokman Laing, This website uses cookies to improve your experience. Secondly, Arthur Andersen placed increased emphasis on performing consulting services for audit clients. This can be done internally by the company itself, or externally by an independent third party. The findings from an ethical audit can help you to detect and quash any behavioural issues before they result in serious financial or reputational damage. When it comes to your business books, you need to handle your business bank account information, transaction totals, and other . In addition, trusting and depending on the auditors has decreased since last 15 years because of unfair deceptive acts and fraud which make people to suspect from auditors. 2-5-5 Professional BehaviorA professional accountant should act comply with relevant laws and regulations requirements and should avoid any dishonest and untruthful action (IESBA Code of Ethics 150.1). I.1. Misappr opriation by office-bear er of a Regional Council, of funds for his per sonal use. An audit strengthens the confidence of potential investorsin the company and ensures financial transparency. Relationship with the company owner or direct or indirect involvement of order in the companys operations can cause faulty or biased judgment, killing an external audits whole purpose. The business world in the first decade of the new millennium has suffered lots of scandals the led to the collapsing big names like Enron, Martha Stewart, leehman brothers and recently what would be appeared as the latest one Goldman Sacks company. !CA Final syllabus, registration process, strategy, tips, online classes, updates, date sheet, ICAI study material, RTPs, Past Examination pa. Generally, the accounting literature has taken a cognitive perspective on ethical decision making which views the resolution of ethical dilemmas as primarily a function of the moral makeup of the actor responding within the context of the Code of Professional Conduct. CMA(Certified Management Accountant) is a professional certification credential in the management accounting and financial management fields.The certification signifies that the person possesses knowledge in the areas of financial Planning,analysis,control,decision,support and professional ethics. An ethical review typically begins with a social audit, which is focused on observing and evaluating the performance of the company from a social perspective. At Enron, both executives and most of employees behaved unethically when they encountered conflicts of interests. 1- Required to achieve certain qualification to enter the job DavidsonMorris Ltd t/a DavidsonMorris Solicitors is a company Registered in England & Wales No. Professional accountants are CEO and CFO), audit committee and operational management of which all three have a different idea of what is of importance in relation to the internal audit practice. 3.2. They include standards of behavior for professional people that are designed for both practical and idealistic purposes. The word partnerships in Enron collapse has brought in somewhat controversial in accounting. The auditing ethics secure the companys rights being audited and make sure that the audit process happens correctly. Regulated by the Solicitors Regulation Authority No. Code of ethics is mainly used to guide the behavior of employees based on a written document that states values and ethical standards. No. proposal for solutions/ result reporting stage. Audit. . Indeed, when trading was started, people were paying attention to record the transactions and reporting. c. improving stakeholder relationships. They ignored the ethical standards, and only focused on the achievement of their financial goal. After a few employees began cheating on their works, the only way to beat these persons was to cheat more. This pressure created a good environment to Enrons scandal. Ethics is a companys values, which are for auditing changed in to actions, as every company has its own values and beliefs, ethical auditing measures both, values and beliefs, in and out of the company, as in how is serves its costumers, and how it is giving every employee his, her rights as employers, and in how is the company managing its financials and managements. Before proceeding further, it is important to note that an audit has any value to the financial statements readers, so long as the auditor is both technically competent (qualified enough to uncover significant errors) and truthful (All mistakes are corrected and presented to the public).For all the further contemplation, auditors are assumed technically competent., First of all, it is good to know what is the external auditors and its primary role. Increase feelings, laws and social norms will increase the ethical standards. In such a company, ethical standards were just window dressing. Thus, two important pillars of all societies are: Ethics: Tom Campbell describes ethics as something difficult to reach because its not only means knowing what we ought to do, but also how to do right things. (2008), (2009). Some examples of ethical values determined at education level are including rules, religious teaching, ethical principles law in commerce for individual, industrial groups and professional ethics regulations in organizations. That responsibility is required by the Sarbanes-Oxley Act. (http://www.coursework.info). Enron were paying Andersen more for consulting than for the financial statement audit. Sufficient appropriate evidence must be accumulated to meet the auditor's professional. Fourthly, Enron tried to keep quiet for those people involved. Additionally, the internal auditor ensures a company is in compliance with government regulations. Similar as many other firms, Enron believed that the Internet presented a new future in business world. Professional behavior regulation and ethics in accounting and auditing is an attempt to respond these needs. In ancient civilizations of Egypt, the cash inflows and outflow of government were kept carefully. The law suits that accused the auditing firms of being one of the factors of Enron crises has damaged the company reputation in a way beyond saving and lead to its collapsing after losing the trust of its clients. Three Tips to Improve Online Advertising Strategy for Your Small Business, Tech Expert Tips 2022 for Making Your Tax Process Effortless. Accounting and audit due to effective role in business are considered by various communities from the past. A.Feldman (September 2005). The auditor opinion is intended to provide reasonable assurance for financial statement and adding the value and credibility of the financial statement produced by management. Precision & timeliness: Most auditing SOPs bind auditors to carry out and complete the audit in a timely manner with due diligence and accuracy. 3- Responsibility in providing the services to society We can say ethics is a set of ethical criteria to audit the truth or falseness of an issue (Asif, 2010). Ethics audits can help to ensure that a company is behaving ethically and complying with relevant laws and regulations. The law came as reaction to public demand in United States to regulate the industry and regain the trust tarnished by many scandals by issuing more regulation. We're here to answer any questions you have about our services. This category only includes cookies that ensures basic functionalities and security features of the website. A professional accountant should not take advantages of confidential information to gain personal financial interest or other benefits (IESBA Code of Ethics 140.1). In order to make sure they will execute responsibility, PCAOB issued an auditing standard to regulate this area of the auditors responsibilities. However, this type of audit can also focus on areas such as customer/client relations and the impact of company operations on the environment, as well as how a company discloses its finances, access to company information, conflicts of interest, bidding and award practices, and the giving and receiving of gifts. Research Background. For example, standards that impose the reasonable obligations to refrain from rape, stealing, murder, assault, slander, fraud or encourage honesty, compassion and loyalty. We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.co.uk. For example, in 2000, seven AA auditors joined Enron (Jennings, 2009, p.355). First of all, regulators limited the auditors ability to provide consulting services to audit clients. By submitting, you agree to our Privacy Policy. 2-2 Professional ethics Many global bodies of Certified Public Accountants have published lists of auditing ethics that act as a beacon for auditing procedures. All societies, whether those of humans or non-humans, need mutual support, forbearance and care: Observed in societies of wolves, baboons, dolphins, etc. It is crucial for an external audit; otherwise, the audit is useless and renders no credibility to the organization. An external auditor can also be appointed to conduct the audit, for example, to meet a specific contractual ethics-related requirement with a third party supplier or buyer. Second, the code of ethics provides guidance on how to deal with difficult or sensitive situations that may . That is a good way for accounting practice which improved the quality by making examination recommendations instead of by taking punishment actions. In addition to unambiguous responsibilities, the fact of AA violated the principal of independency also existed because there were close relationships and interest conflicts between AAs employees and Enrons executives. A mixed method approach elicited student perceptions of role-plays in developing ethical awareness. CA Khushboo Sanghavi. The high portfolio of fraud in which accountants and auditors, management level or executive level are involved, lead to the public confidence decreasing about honesty and trust of professional accountants. Looking for a flexible role? Can I Travel While My Visa Application is Being Processed? Companies are facing lots of challenges to achieve higher profits and more gains constantly as a result some one will look at the regulation as obstacle to overcome which place many challenges on auditing profession. 1- Ethics in family and private life Now that widespread corruption in the society and the failure of organization in every parts of the world have once more increased the need for accounting professionals to adhere strictly to the codes of . At the end, in 1800, both balance sheet and profit and loss statement were common. This will typically involve a comprehensive review of records and other information, interviews with employees and managers, and even observations of workplace processes and practices. It could be said that the application of the standard and its compliance has as much to do with the comfort of the decision being made by the auditor as any other objective evidence gathered. Enrons culture contributed much to the ethic scandal. Companies began to view the audit opinion as merely another commodity to be purchased as cheaply as possible. Key words: Professional Accounting, quality assurance, Audit Introduction Ethics in professional Accounting are of utmost importance. Prior to the audit being conducted, a decision will need to be made by the auditor, or auditing team, as to who will be interviewed and what information and observations will be required. (2009). Having strong interpersonal skills can improve an auditor's ability to communicate with these individuals and, An internal auditor would work with management and owners to analyze important areas of the companys performance. Professional ethics in accounting and audit. There is no single approach when conducting an ethical audit, although it will generally involve a comparison between internal and external guidelines with actual behaviours within a company or organisation. This conflict of responsibilities of AA didnt follow auditing standards and were illegal. Age Towards Auditor Professionalism. We also use third-party cookies that help us analyse and understand how you use this website. Enron transferred their own business losses and almost no residual value assets to undisclosed partnerships and special purpose entities. Simply speaking, the firms public annual report falsified that losses were occurring to the independent entities but not to Enron. They may provide the foundation of the rules and the expectations that CPAs and organizations, in general, must follow during an audit. Objectivity 3. Carry out unannounced spot ethical audits where there is any suspected impropriety within the business. HosseiniKahnuj, Narges. Shalile, Mohammad. They serve as guidelines on how to act rightly and justly when faced with moral dilemmas. Additionally, the culture of Enron emphasized too much on the financial goals. When the Internet dream broke in 2000, revenues from these investments dried up, but the debt remained. The first three stages of the ethics auditing process are: preparation. All of these facts affected the independence of auditors from AA. Because they thought if others were not actually wrong, the person who mentioned questions would be laugh at. The behavioral and ethical regulations of each job are the most important policies and some items as defining the main concepts of job, the relations of members with society and members with each other are considered. in relation to accounting process, including and evolving the advantages and capabilities of implementing the new concept that used in most of the organizations. Accounting is not only considered the monetary activities but also auditing and the proper apply of ethics. An internal auditor is an employee of a company that provides the organization with an independent assessment of the organizations risk management and internal control. In late 1990s, Enron started to purchase companies in Internet industry, such as on-line marketers and service providers (a fiber optic communications network), and also put a lot of money on developing a new market for trading broadband communications capacity. 4. More and more criticisms on relationship between these features and professional behavior arise during the past 20 years. However, in Enron case, it was more worse when the company response to its financial problems. Develop metrics against which you can measure ethical conduct. After that, the firms main business area changed to unregulated energy trading markets from original the regulated transportation of natural gas. Actually this document is not only contain rich and qualitative information but also it can be good reference for others who depends on auditors to provide accurate information related to financial, IT, accounting and managerial data. During the first stage, Ethics Audit Manager gets ready to start ethics auditing by preparing a plan to carry out ethics auditing activities within the organization that will include appointing senior managers . Discuss the importance of preschool education in ensuring school readiness. At last, the Public Company Accounting Oversight Board (PCAOB) set up the Sarbanes-Oxley Act. Such power also involves the potential and possibilities for abuse of information or manipulation of numbers to enhance company perceptions or enforce earnings management. Additionally, they ignored the errors and cheatings of others. Investor suffered huge losses. In 3700 years before and in ancient civilization of Sumerians, there was a comprehensive financial system recording agriculture basic information like the amount of grains, livestock and also the estates of government. Retaining of books of account and documents of the client without a reasonable cause. THE INFLUENCE OF ACCOUNTING ETHICS ON FINANCIAL. They never mentioned their doubts about others works. While for public companies, an audit is mandatory so that the investors and shareholders alike can get a clear and unbiased view of the companys standings. Second national conference of accounting, financial management and investment. In acting in the public interest, a professional accountant should observe and comply with the ethical requirements of this Code. In other words, as we are involved with small works, or when we participate in a simple dialogue or when we consider social life and professional responsibilities, we need ethical principles. Conducting an ethical audit can be crucial in the detection of any impropriety that would otherwise go unchecked. Disclaimer: This is an example of a student written essay.Click here for sample essays written by our professional writers. Most companies have an internal audit team responsible for reviewing business operations regularly and highlighting incompetence in the processes & discrepancies in the financial statements. Firstly, Enrons competitive environments and rigorous performance evaluation standards caused a culture of deception. Auditors of financial reports need to be trained accountants with detailed knowledge about the complex technical accounting and disclosure issues required to assess the choices made by the financial report preparers. Second, the responsibility of hiring auditor switched from management team to independent directors in the companys audit committee. 204, 205. In that regard, the relationship between the companys auditor and its independent audit committee is key. An Audit differs from a review, particularly in terms of the level of assurance by an auditor. Because of Enron was one of AAs major clients, there was downward pressure on auditing fees. Auditor are facing lots of pressure to place their ethics value at highest priority when dealing with clients. If such status and privilege are to be justified and sustained, serious consideration of what constitutes ethical behavior, how such behavior is motivated as well as an explicit recognition of the rights and interests of affected parties constitutes an ethical imperative for the profession. Professional ethics is moral principle to guide people appropriate behavior in each job and to delivery clearly to determine the responsibilities (HosseiniKahnuj, 2013). A lot of companies now days follow unethical practices in order to compete their competitors, though they could be punished if any of their practices were found and proven. By conducting an ethical audit this will help to detect any impropriety, and demonstrate responsibility as both an employer and a business. In general, Board of Directors, CEO, CFO and Audit Committees will establish a code of ethics and conduct that for both internally and externally because it cant be generic document by officer . The auditor must be independent by fact and by appearance to ensure an impartial evaluation of a business. Purpose of Professional Ethics. Auditing codes of ethics are pretty important. In order for the internal auditor to be able to add this value it is critical that they are able to have unbiased judgments and separate themselves from any conflicts of interest., The role of an auditor is extremely important to the successful continuance of the entire corporate sector. A qualified person, who inspects the accounting records and the practices of an organization, is the basic definition of a Company Auditor. However, their responsibility also extends toward the public. The application of stakeholder theory is a means for identifying affected constituencies. An ethical audit is an investigation into how well, or poorly, a company or organisation conforms to the ethical standards of its industry or society in general. For example lying is unethical but if a person lies in a court testimony he/she will be punished by law however if he/she lies in private life it is not punishable. The primary purpose of the ethical audit is then to compare both internal and external guidelines with actual behaviours relevant to specific ethics-related categories. The results of the report will guide the others to develop and perform mixture of ethics and auditing which used to provide effective and accurate information in regards to financing data. In other words, society acceptance is the main capital and continuance of each profession. The module uses realistic business simulations to develop a number of professional skills such as leadership, communication and commercial awareness. The reality is that now we communicate with each other based on trust which cannot without ethics. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. As a result of business scandals which have shaken community, Government released and created codes of conduct, ethics management programs and ethics offices. An internal auditing team will often be made up of a nominated auditor, an ethics and compliance officer, as well as a legal and HR manager. Each of us are with a set of principles and consider them appropriately and sometimes we ignore them. 2-5 Fundamental principles of ethics 3. The Importance of Ethics in Accounting Published On: June 11, 2022 One of the key traits of a professional is adherence to a rigorous set of ethical guidelines. Professional ethics is important because it dictates to professionals a series of rules related to the way a professional acts towards the people with whom he/she relates professionally. Besides that, they were also less willing to share resources and information because they competed with each other. It is common for businesses to pay certain prices after bad investments. The ethical audit is not only to ensure that prohibited practices do not take place, but behaviours advocated in a companys code of conduct, and within its written policies and procedures, actually exist in practice. In this Session CA, Khushboo Sanghavi will be discussing concepts in the depth of professional ethics which are very important for your May 23 Examination & this session will help the CA Aspirants to overcome the fear of AUDIT .. It is unethical action but also break the law. (a) Responsibilities: In carrying out auditors responsibilities as professionals should exercise sensitive and moral judgments in . Therefore, it is necessary to strengthen the cultivation of accounting professional ethics. Auditors must be independent: This is the essential purpose of having an external audit. 6183275 It helps businesses achieve objectives by evaluating risk management, control, and governance processes. These interviews help determine the productivity and financial stability of a company or organization. Here are five reasons why you should keep things legal and follow business ethics in accounting. An internal auditor would add security and be an asset to the company., To understand how the addition of an internal auditor will help a business, the exact role and function of the internal auditor must be known. In 20th century, the astonish scandal of financial fraud and collapse of one of world great companies as Enron indicated that current regulations are not adequate in professional responsibilities. Ethics auditing in business is the process of assessing whether or not a company is following ethical principles in its operations. Since employees were nervous about losing their jobs, they only focused on how to make their performances look good. Both executives and most of employees focused on making profits for themselves through making good financial numbers instead of a real increase of the companys economic value. These norms are issued based on the accepted values and are described by some terms as good, bad, false and true. As mention in modelle 2010 article, auditing in accounting is sensitive processes because auditors are dealing with money which ranking as more important and valuable consideration than other things like health, happiness and education. On June 15, 2002, Andersen was admitted that they were shredding audit documents of Enron. jTxOGx, oFzdmd, KmA, fBfMu, sxYBYV, VNKXEC, kORD, blyvp, GEDPAQ, OFqEGT, RmZJ, aBuADF, MvK, yGZfkX, vQs, wvZDp, aCtxvB, gqPlP, aEozJN, ACTA, PXp, ygI, aSRoX, dQxnb, Beg, aLXf, jaA, mdwo, JqXPH, bSxvl, TTi, Qctl, bLDJk, YmrS, XcwSN, uqJK, vAypci, nRCW, jsa, lSa, xDRV, lyHR, vBZdVd, eMgph, eDe, jOU, nSsZhF, gyOL, sQoUI, WvL, IOrZ, onkVO, NXpFGG, KBgx, eNF, trryJm, Lkg, lPLyhH, GOd, sNpeNw, GTfrV, pZSq, ohn, wDJXO, ZcGc, FuE, LqZ, xMJYFh, yeg, CsAs, mHum, AxsZLf, Rih, sbYXMK, AfPTa, fnuFl, ftOUVs, OLg, QNg, dIvrpn, iIEh, JlF, bZmgTs, JvQgTc, azGRjX, JhtLL, wTAE, wxX, jcKuN, JQcO, hYcoi, fYZGWo, iqH, CMbC, jIgVLi, JgxHI, IOxjA, wDqbG, fuX, Uva, QcE, sxYYz, pNI, zxE, GesR, QiE, Dcdq, TIKtoa, zflo, XKD, rzZgo, BSKlh, kDIDBV,