Can Professional Accountant Carry out their Code of Ethics in Reporting?

  • Md. Rafiqul Islam Senior Lecturer, Department of Business Administration, Metropolitan University, Sylhet, Bangladesh
  • Md. Nasir Uddin Lecturer, Department of Business Administration, North East University Bangladesh, Bangladesh
  • Urmee Ghose Senior Lecturer, Department of Business Administration, Metropolitan University, Sylhet, Bangladesh
Keywords: : Professional Accountant, Code of Ethics, Reporting.

Abstract

Code of ethics is already established for professional accountant of Bangladesh in public practice and business. Every professional accountant follows this code of ethics to maintain their professionalism as well as reporting. The purpose of this research to investigate some threats those are faced by professional accountant to carry out their code of ethics. This study based on a sample of 61 professional accountants working at different audit firm and different business organization in Bangladesh. Data analyzed by using SPSS 17 and one sample statistics and one sample test was used as analytical tools in this study. There are 18 variables considered from integrity, objectivity, professional competence and due care aspect. It is found that professional accountant face various self-interest threat and self-review threat in reporting and financial report does not provide accurate information for tax purpose after audited in many cases.

References

Akenbor, C. O., & Tennyson, O. (2014). Ethics of Accounting Profession in Nigeria. Journal of Business and Economics , 5 (8), 1374-1382.
Al-Rubaish, A. M. (2010). Professionalism today. Journal of Family and Community Medecine , 17 (1), 1-2.
Armstrong, M. B., Ketz, J. E., & Owsen, D. (2013). Ethics education in accounting: moving toward ethical motivation and ethical behavior. Journal of Accounting Research , 21 (1), 1-16.
Boston, I., Costuleanu, C., Horomnea, E., & Costuleanu, M. (2011). Morality, Ethics and True Image in Business Accounting. Journal of Theoritical and Applied Economics , XVIII (2011) (6 (559)), 47-54.
Esmand-Kiger, & Connie. (2004). Making ethics a pervasive component of accounting education. Management Accounting Quaterly , 5 (4), 42-52.
Espinosa-Pike, M., & Barrainkua-Aroztegi, I. (2014). A Universal Code Of Ethics For Professional Accountants: Religious Restrictions. Procedia- Social and Behavioral Sciences. , 143, 1126-1132.
Falt, J. P. (1995). Ethics and the accountant. Journal of Business Ethics , 14 (12), 997-1004.
Fogarty, T. J. (1995). Accountant Ethics: A brief examination of neglected sociological dimensions. Journal of Business Ethics , 14 (2), 103-115.
Graffikin, M., & Lindawati, A. (2012). The Moral Reasoning of Public Accountants in the Development of a Code of Ethics: The Case of Indonesia. Australiasian Accounting, Business and Finance Journal , 6 (1), 3-28.
Horomnea, E., & Pasco, A.-M. (2012). Ethical and Morality in Accounting Epistemological Approach. Journal of Eastern Eurupe Research in Business and Economics , 2012, 11.
Hossen, M. S. (2016). Financial Reporting Act (FRA), 2015: A Revolutionary Era for Ensuring Effective Capital Market and Economic Development in Bangladesh. Global Journal of Management and Business Research (D) , 16 (1), 13-20.
II, C. A., & Crittenden, W. F. (2014). The Accounting Profession's Role in Corporate Governancein Frontier Markets: A Research Agenda. Organizations and Markets in Emerging Economies , 5 (2 (10)).
Ludwig, D. C., & Longenecker, C. O. (1993). The Bathsheba Syndrom: The ethical failure of successful leader. Journal of Business Ethics , 12 (4), 265-273.
Marriott, N., & Marriott, P. (2000). Professional accontants and the devdelopment of a management accounting service for the small firm: barriers and possibilities. Management Accounting Research , 11 (4), 475-492.
Mathenge, G. D. (2012). Ethical Dimeiticnsions in Responsible Professionalism and Accounting Procedure in Kenya: A Critical Analysis of Theory and Practice. Research Journal of Finance and Accounting , 3 (2).
Nigam, R. (2008). The Relationship Between Professional Ethics and corporate Profitability. International Journal of Business Studies , 13 (1), 217-229.
Reiter, S. (1997). The ethics of care and new paradigms for accounting practice. Accounting, Auditing and Accountability Journal , 10 (3), 299-324.
Schwartz, M. S. (2002). A Code of Ethics for CorporateCode of Ethics. Journal of Business Ethics , 41 (1-2), 27-43.
Yadav, B. (2013). Creative Accounting: A Literature Review. The SIJ Transations on Indistrial, Financial & Business Management (IFBM) , 1 (5), 181-193.
Yasemin Zengin Karalbrahlmoglu, E. E., & Var, T. (2009). Ethical Behavior in Accounting: Some Evidence from Turkey. African Journal of Business Management , 3 (10), 540-547.
Published
2019-04-07
How to Cite
Islam, M. R., Uddin, M. N., & Ghose, U. (2019). Can Professional Accountant Carry out their Code of Ethics in Reporting?. International Journal of Accounting & Finance Review, 4(1), 17-23. https://doi.org/10.46281/ijafr.v4i1.246
Section
Research Paper/Theoretical Paper/Review Paper/Short Communication Paper