Project description
Financial statements provide useful information therefore; the accountants who prepare these statements must adhere to high ethical standards. Both the public and the business sectors must trust that the financial statements are accurate.
Discuss why it is important for management to ensure the accuracy of its records, reports and ensure ethical performance of its professionals. For example there must be a system of internal controls anchored in ethical principles and standards.
1. Discuss some internal control that may ensure ethical standards and accurate records.
2. Discuss the roles of the different governing bodies such as SEC and FASB.
3. Find a company in that was praised for its ethical practices and one company that was accused of unethical practices and discuss how this has effective its public image.