Principles of morally right conduct in the accounting profession, emphasizing the need for accountants to act in the public interest while operating in a commercial environment.
A Code of Ethics is a crucial framework for guiding professional conduct and maintaining integrity within a profession. It outlines the standards of behavior and practices that are expected, providing a foundation for ethical decision-making.
Ethics refers to moral and professional principles that guide the conduct of individuals and organizations. It is crucial for maintaining public confidence and integrity in various professions, including business, accounting, law, and others.
Faithful representation means that financial information accurately reflects the real-world economic events or conditions it represents. This concept is central to the credibility of financial reports and ensures that information is complete, free from bias, and free from error.
Integrity is a quality characterized by honesty, reliability, and fairness, developed in a relationship over time. Customers and clients have much more confidence when dealing with a business when they can rely on the representations made.
