The nature of accounting establishes a unique position of trust in relation to the clients, employers and general public, who count on accountants' professional judgment and advice in making financial/managerial decisions.'They have the responsibility to ensure that their duties are performed in conformity with the ethical values of honesty, integrity, objectivity, due care, confidentiality, and the commitment to the public interest before one’s own. Theories of ethics 1. Utilitarianism Jeremy Bentham is the founder of utilitarianism. 'The doctrine that an action is right in so far as it promotes happiness, and that the greatest happiness of the greatest number should be the guiding principle of conduct.' Jeremy Bentham, the founder of the idea, argues that the more happiness there are in the decision, the better decision it is. However, happiness is an unquantifiable concept. John Stuart Mill supported the idea of utilitarianism but he developed an idea into ...
Be accountable ...be account informed.