Auditing, Accounting and Tax Services these are only a few of the work carried out by CPAs.  And because of so many users like shareholders (current and potential), investors, creditors, regulatory agencies, and others that rely so much of the financial statements in order to make informed decisions about the entity, a high level of Ethics is necessary to be observed by CPAs.

Since 1980s, media reported numerous accounting scandals that resulted in fraud charges, bankruptcy protection requests that eventually lead to closure of companies and accounting firms.  The stealthy effect of unethical behavior by top management in many corporations has impact on everyone in some way, shape or form.  Hearing these stories is a reminder for us, especially in the accounting profession how crucial it is to strive for ethical decision-making and behavior in business overall.

CPAs in a day to day performance of their jobs must meet significant ethical responsibilities.  Philippine Institute of Certified Public Accountant (PICPA) set forth ethical rules and regulations which is the Code of Professional Conduct for their members.  As a result all CPAs are subject to such ethical requirements.  

Due to important role CPAs play in the society we should always take responsibility of the services we provide and works towards serving the public interest.  There are lots of time that integrity of CPA is questioned due to vague rules and regulations.  The integrity of CPA or any business people is measured by doing what is “right” in observance of both the form of technical and ethical standards.  In an effort to observe firm integrity, it is crucial for CPAs to live by the standard: do what is ethical, do what you think is ethical and do not do what you know is wrong.  And by applying the principles of integrity, responsibilities, and serving the public interest, CPAs will become objective and independent both in fact and appearance in providing auditing and other attestation services.  Lastly, CPAs are expected and obligated to practice accounting and provide professional services to the best of their abilities.  This is achieved through continuing professional education, trainings and seminars.

Constant observance of the law and PICPA Code of Professional Conduct helps pave the way for ethical behavior not only in accounting profession but throughout the business sector.  Respected leadership is one of the effective way ethics will enter business world, by striving to set ethical tone starting at the top.


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