BP5 Ch6 - TABLE 6.1 WHAT MAKES A PROFESSION Essential...

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Unformatted text preview: TABLE 6.1 WHAT MAKES A PROFESSION Essential Features (Bayles) Extensive training Provision of important services to society Training and skills largely intellectual in character Typical Features Generally licensed or certified Represented by organisations, associations, or institutes Autonomy Foundation of Ethical Values (Behrman) Significantly delineated by and founded on ethical considerations rather than techniques or tools TABLE 6.2 FEATURES, DUTIES, RIGHTS, AND VALUES OF THE ACCOUNTING PROFESSION Features Provision of important fiduciary services to society Extensive knowledge and skill are required Training and skills required are largely intellectual in character Overseen by self-regulating membership organisations Accountable to governmental authority Duties essential to a fiduciary relationship Continuing attention to the needs of clients and other stakeholders Development and maintenance of required knowledge and skills, including professional scepticism Maintenance of the trust inherent in a fiduciary relationship by behaviour exhibiting responsible values Maintenance of an acceptable personal reputation Maintenance of a credible reputation as a profession Rights permitted in most jurisdictions Ability to hold oneself out as a designated professional to render important fiduciary services Ability to set entrance standards and examine candidates Self-regulation and discipline based on codes of conduct Participation in the development of accounting and audit practice Access to some or all fields of accounting and audit endeavour Values necessary to discharge duties and maintain rights Honesty Integrity Objectivity, based on independent judgement Desire to exercise due care and professional scepticism Competence Confidentiality TABLE 6.3 MOTIVES INFLUENCING PEOPLE AT KOHLBERGS SIX STAGES OF MORAL REASONING STAGE DESCRIPTION MOTIVE FOR DOING RIGHT Preconventional Self-interest 1. Obedience Fear of punishment and authorities 2. Egotisminstrumental and social exchange Self-gratification, concern only for oneself Lets make a deal Conventional Conformity 3. Interpersonal concordance Role expectation or approval from others 4. Law and duty (social order) Adherence to moral codes, or to codes of law and order Post-conventional, Autonomous, or Principled Interests of Others 5. General individual rights and standards agreed upon by society Concern for others and broader social welfare 6. Self-chosen principles Concern for moral or ethical principle TABLE 6.4 NATIONAL AND INTERNATIONAL ACCOUNTING ORGANIZATIONS OPERATING IN NORTH AMERICA NAME DESIGNATION PRIME MANDATE(S) LOCATION American Institute of Certified Public Accountants (AICPA) CPA Auditing, management accounting United States, some Canadian provinces Institute of Management Accountants (IMA) CMA Management accounting United States Canadian Institute of Chartered Accountants (CICA)...
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BP5 Ch6 - TABLE 6.1 WHAT MAKES A PROFESSION Essential...

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