Richard T De George | Ethical Issues for Accountants

Richard T. De George | Ethical Issues for Accountants
In this reading, De George looks at the inherent conflicts of interest built into the US system in which accounting firms work for and are paid by the companies that hire them. Because of the rule of confidentiality, accountants may find themselves caught between loyalty to their clients and ethical obligations to the public at large. De George suggests a tightening of the guidelines for accountants presented in their professional codes.
-In 1988 the Financial Accounting Standards Board (FASB) proposed requiring that corporations carry as a liability their exposure in terms of

A) retirees' health-care benefits.
B) retirees' pensions.
C) public shareholders.
D) tax audits.