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Unformatted text preview: 14. Why is it important for a professional accountant to understand the ethical trends discussed in this chapter? It is important to understand the ethical trends discussed in this chapter because an accounting firm can become none existent due to unethical behavior. The accountant or accountants responsible will also face legal ramifications, such as jail time and heavy fines. The reputation of accountants is harmed when unethical practices are heard of even though not all accountants are unethical. It is also important to understand these trends because new laws and governances are being established to protect shareholders and the public, accountants will be held accountable for acting unethically....
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This note was uploaded on 09/06/2010 for the course ACC 260 acc 260 taught by Professor Unknown during the Spring '10 term at University of Phoenix.
- Spring '10