Essay about New York State Accounting Code of Ethics

New York State Accounting Code of Ethics The accounting system is constantly changing. During these changes, it is important for accountants to adhere to the high ethical standards that they have always lived by. Adhering to the high ethical standards is an accountants obligation to the public, the profession, and themselves. An accountants ethical conduct usually lies within four different areas. This includes competence, confidentiality, integrity, and objectivity. NYSSCPA.ORG states, Members also have a continuing responsibility to cooperate with each other to improve the art of accounting, maintain the publics confidence, and carry out the professions special responsibilities for self-governance, (Article 1). New†¦show more content†¦Accountants should refuse gifts and favors that would appear to influence their actions and should refrain from any activities that would prejudice their ability to perform their duties ethically. NYSSCPA.ORG states, Integrity requires a member to be, among other things, hones t and candid within the constraints of client confidentiality, (Article 3). Accountants must be willing to recognize and communicate professional limitations that would preclude successful performance of their activities. They are expected to communicate unfavorable as well as favorable information. Client Confidentiality Client confidentiality is very important in the accounting profession. New York State requires that accountants do not share any client information without the specific consent of the client. However, under certain circumstances, the State finds it necessary that an accountant might have to share client information. Examples of these circumstances include an accountant?s receipt of a subpoena or summons or an accountants participation in actual or threatened legal proceedings or alternative dispute resolution proceedings (NYSSCPA.ORG, ET section 301). Accounting Work Product New York State requires its accountants to adequately maintain its work papers in accordance with specific requirements. Work papers include the accountant?s records of the procedures applied, tests performed, supporting information, and the materialShow MoreRelated Code Of Professional Ethics By American Institute Of Certified Public1259 Words   |  6 Pages Code of Professional Ethics by American Institute of Certified Public Accountants Introduction quot;A code of professional ethics is a voluntary assumption of self discipline above and beyond the requirements of the law. The Code of Ethical Conduct serves the highly practical purpose to notify the public that the profession will protect the public interestquot; (Carey, Doherty: p 3). 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