ESSAY ON GREED AND ETHICS

BRIEF #2: CURRENT ETHICAL ISSUES OF GREED IN BUSINESS WORLD TODAY I. SUMMATION

 a. The profession of accounting has been given a negative image as a result of unethical decision making in major U.S. companies like Enron, Tyco, and Adelphia. The Institute of Management Accountants has created “Standards of Ethical Conduct” which demonstrate how ethical behavior should be practiced by professionals. By examining past ethical breaches, a strategy can be developed that can help deter unethical practices from happening in the future.

 b. The Institute of Management Accountants' (IMA) "Standards of Ethical Conduct for Practitioners of Management Accounting and Financial Management". A resource for how ethical behavior should be practiced by accounting professionals. c. The IMA’s Standards have identified four areas of ethical professional conduct: i. Competence- Perform their professional duties in accordance with relevant laws, regulations, and technical standards.

Confidentiality- Refrain from using or appearing to use confidential information acquired in the course of their work for unethical or illegal advantages, either personally or through