Ethics

Question 1

What are some of the ethical considerations for preparers of financial statements?

Answer 1

1. Integrity and honesty.
2. Objectivity.
3. Compliance with accounting standards.
4. Confidentiality.
5. Accuracy and completeness.
6. Transparency and full disclosure.
7. Avoidance of creative accounting.
8. Responsibility to stakeholders.
9. Professional competence.
10. Accountability and willingness to rectify errors.
11. Fairness.
12. Ethical leadership and culture.