Discussion Assignment: Relate the IMA standard of credibility to Biblical principles. Directions: Yo

Aug 15th, 2016
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Discussion Assignment: Relate the IMA standard of credibility to Biblical principles. Directions: You will compose a 500-word discussion board thread in your group’s discussion board. Each thread must cite at least 2 sources in current APA format.

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Answer-----------------------Abstract----When considering some of the key reasons for the desperate state of the current globaleconomic environment, it is difficult to deny accountings role therein. Although accountinginstitutes require adherence to codes of conduct, the question remains as to what happened tothe stewardship function of the accounting profession. This article has critically reflected onthe question, What constitutes an ethical accounting profession? The key principles withinmany institutes codes of conduct, such as competency, integrity, objectivity andconfidentiality, have been considered against the background of utilitarianism, formalism andvirtue ethics as foundational ethical theories. This article has concluded that although theseprinciples aim to provide a framework for ethical accounting conduct, individual subjectivityon the part of the accountant will play a role in how these ethical principles becomeethical practices.BackgroundIn Roman mythology, Janus, the god of gates and doorways, is often depicted as having twofaces, one forward facing and the other rearward facing (Eadie 2007:636; Teske 2005:290).This depiction can be applied to the ethical issues facing the professional accountant, forexample, the simultaneous consideration of both future and historic events, or the manyopposing needs and requirements of the various stakeholders in an organisation. As adiscipline, accounting wears many hats. On the one hand, there

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