Which of the following is correct with respect to accounting ethics?
A) It is difficult for one person to make a difference; rather, what is required is organization-wide action to ensure ethical accounting behaviour.
B) The ultimate purpose of strong ethical standards in accounting is to maintain public confidence in business institutions and financial markets.
C) The U.S. CPA Code of Ethics does not address the conflict of interest problem.
D) To date, there has been no legislation passed in either the United States or Canada which is designed to ensure that the general public has confidence in the work of accountants.
E) All of these are correct.

Question

Quizplus · Accepted Answer

The ultimate purpose of strong ethical standards in accounting is indeed to maintain public confidence in business institutions and financial markets. While it may be difficult for one person to make a difference, it is still important for individuals to uphold ethical behavior. The U.S. CPA Code of Ethics does address conflict of interest, and there have been legislative efforts in both the United States and Canada to ensure public confidence in the work of accountants.

Which of the Following Is Correct with Respect to Accounting