$20 Bonus + 25% OFF
Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!


Discuss about the Code Of Ethics For Professional Accountants.


Determination of two key facts of the case

In the particular scenario, there is a need to make necessary recommendation to the CEO about the tender that must be accepted by the company. You have significant personal interest in this tendering firm (Collier, 2015).

Determination of two ethical issues of the case

The basic ethical issue that arises in this scenario relates to the conflict of the interest. The second ethical issue in the case is the high involvement of personal interest of the manager.

Determination of the three ethical principles which might be at risk in the given scenario

The ethical principles that might be at risk in the given scenario include honesty and integrity on part of the manager, professional values and practices of the company, and fair managerial policies relating to the selection of tender (Birt et al., 2008).

Identified alternative courses of action: Consequences

Declare an interest and step outside of the decision-making process for this particular tender – This is the most ethical and fair option that must be selected by the manager. By choosing this alternative, the manager’s integrity and honesty would remain intact.

Declare an interest and remain part of the decision-making process and complete your recommendation for your company – The declaration of the manager’s interest would be a good move. But the objectivity of the manager relating to the decision-making power of the manager cannot be ascertained (Demski, 2013). A probable consequence could be his removal from decision-making panel due to resistance from other shareholders.

Don’t declare an interest and continue to do your job by making a recommendation – This unethical method could damage the common interest of the undertaking and the manager (Guy, 1990).


Determination of three key facts of the case

The small business owner has to make a financial payment to an overseas government official. The market entry of the business depends on the official’s assistance in the new market. This monetary transaction seems new for the small business owner but it could be a usual norm in the foreign nation (May, 1990).

Determination of one ethical issue in the case

The ethical issue that arises in the case relates to bribery. Since the government official expects to receive financial gain from the businessman in return for his assistance, it is a key ethical concern.

Determination of two ethical principles of the case

The two ethical principles of the case are honesty and integrity while performing professional activities.

Identified alternative courses of action: Consequences

Make the payment – If the payment is made by the small business owner, most probably his business would flourish in the overseas market. But in future, there is a chance that such future payments would be expected from him (Guy, 1990).

Don’t make the payment – If the monetary payment is not made by the small business owner, he would face stiff challenges to establish his business in the foreign land. But on the ethical front, his integrity would be intact.

Code of ethics for professional accountants

  • The particular scenario states that the auditor of Baba Ltd that seals with golf equipment is offered a new set of golf clubs in appreciation of his work to date. This gifting of golf clubs does not seem appropriate in this professional front since it could compromise the integrity, and independence of the audit work. In case the auditor accepts the gifts, the firm being audited would try to dominate his function and objectivity.
  • This scenario that has been presented highlights the issues relating to the responsibility that a service provider has towards the general public including the clients. The function of lending institutions is critical and loans of all the customers must be approved based on their credit rating (Demski, 2013).
  • In the particular scenario, a friend of the accountant approaches for a loan since he is unable to obtain a loan elsewhere and the accountant approves the same for the friend without performing normal checking procedure. This shows the breach of professional conduct due to personal contact. Such bias professional attitude must be avoided and a report must be shared with the management for their approval of the loan (May, 1990).
  • This case states that an accountant is part of the local council works committee which is in the process of considering various tenders for a park upgrade. His biased favouritism attitude towards the tender submitted by his best friend without considering other options shows unprofessional approach towards work. This act could reduce the probability of other competent tenders to be ignored.


Birt, J., Chalmers, K., Beal, D., Brooks, A., Byrne, S. and Oliver, J., 2008. Accounting: Business reporting for decision making. John Wiley & Sons Australia, Ltd..

Collier, P.M., 2015. Accounting for managers: Interpreting accounting information for decision making. John Wiley & Sons.

Demski, J., 2013. Managerial uses of accounting information. Springer Science & Business Media.

Guy, M.E., 1990. Ethical decision making in everyday work situations. Greenwood Publishing Group.

May, W.W. ed., 1990. Ethics in the accounting curriculum: Cases and readings.


Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2019). Code Of Ethics For Accountants. Retrieved from

"Code Of Ethics For Accountants." My Assignment Help, 2019,

My Assignment Help (2019) Code Of Ethics For Accountants [Online]. Available from:
[Accessed 27 May 2020].

My Assignment Help. 'Code Of Ethics For Accountants' (My Assignment Help, 2019) <> accessed 27 May 2020.

My Assignment Help. Code Of Ethics For Accountants [Internet]. My Assignment Help. 2019 [cited 27 May 2020]. Available from: is the perfect solution to render quality solution for all sort of academic issues. We have hired professionals from different fields of study to provide assistance with different subjects. We successfully have provided different types of assignment solutions on 100+ subjects. We have hired industry experts to deliver nursing assignment, hr assignment and finance assignment help. To offer quality content with IT assignments, we have hired IT professionals to render programming language assignment help and IT assignment help for other types of IT assignments as well.

Latest Accounting Samples

HA 3011 Advanced Financial Accounting Information

Download : 0 | Pages : 10
  • Course Code: HA 3011
  • University: University Of The West Of England
  • Country: United Kingdom

Answer: Part A: Requirement i) Fair fax media limited has conducted the impairment of assets such as investments that accounted for using the method of equity. Such investments are tested for impairment at each reporting date when there is indication of impairment. At the end of each reporting period, assets that suffered impairment are reviewed for reversal impairment. Some of the intangible assets of organization such as trade names and ma...

Read More arrow

BAO3309 Advanced Financial Accounting Assignment

Download : 0 | Pages : 8
  • Course Code: BAO3309
  • University: Victoria University
  • Country: Australia

Answer: Introduction: The report is prepared to evaluate the valuation practice of non financial assets of companies regarding their non-financial assets such as intangible assets and plant, equipment and property. Valuation practices are analyzed in terms of fair value and historical cost accounting. It has been depicted from the analysis of literature review that these two methods of accounting often come under debate regarding its applicab...

Read More arrow

ACC303 Contemporary Issues In Accounting 2

Download : 0 | Pages : 9
  • Course Code: ACC303
  • University: Kings Own Institute
  • Country: Australia

Answer: Introduction: In order to prepare the financial statements, the conceptual framework related to financial reporting is significant for the business organisations in the recent times. This is because it delivers considerable course of action along with the techniques and principles needed to develop the financial reports ( Barth 2015). Along with this, the conceptual framework could help in resolving various issues of the business organi...

Read More arrow

ACCM 4600 Accounting Theory And Contemporary Issues

Download : 0 | Pages : 12

Answer: Introduction: The objective of the report is to focus on the utilization and impact of AI (artificial intelligence) in the accounting field (Bench-Capon, 2014). The explanation of AI’s influence in the accounting field highlights on how development of this technology has transformed the accountants work as well as efficiency in providing better services to their clients. While working in huge accounting firm, it is usually iden...

Read More arrow

0308450 Money And Banking

Download : 0 | Pages : 9

Answer: Part A Article 1: “Fed Raises Interest Rates for Sixth Time Since Financial Crisis”a)The main topic of the above article is the increase in interest rate by 25 bps in US and also expected two more rate hikes in 2018 so that the Fed rate can lie between 1.5% -1.75% p.a.b)The given interest rate hike was quite expected and would potentially prove to be beneficial for the economy as inflation is increasing which can if not cont...

Read More arrow

Save Time & improve Grade

Just share Requriment and get customize Solution.

We will use e-mail only for:

arrow Communication regarding your orders

arrow To send you invoices, and other billing info

arrow To provide you with information of offers and other benefits




Overall Rating



Our Amazing Features


On Time Delivery

Our writers make sure that all orders are submitted, prior to the deadline.


Plagiarism Free Work

Using reliable plagiarism detection software, only provide customized 100 percent original papers.


24 X 7 Live Help

Feel free to contact our assignment writing services any time via phone, email or live chat.


Services For All Subjects

Our writers can provide you professional writing assistance on any subject at any level.


Best Price Guarantee

Our best price guarantee ensures that the features we offer cannot be matched by any of the competitors.

Our Experts

Assignment writing guide
student rating student rating student rating student rating student rating 5/5

154 Order Completed

97% Response Time

Harold Alderete

PhD in Economics

London, United Kingdom

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

755 Order Completed

95% Response Time

Douglas Cowley

Masters in Finance with Specialization in Audit

Wellington, New Zealand

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

93 Order Completed

100% Response Time

Jackson Mitchell

MiM (Masters in Management) in Supply Chain Management

New Jersey, United States

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

1265 Order Completed

97% Response Time

James Cook

Masters in Management

Wellington, New Zealand

Hire Me

FREE Tools


Plagiarism Checker

Get all your documents checked for plagiarism or duplicacy with us.


Essay Typer

Get different kinds of essays typed in minutes with clicks.


GPA Calculator

Calculate your semester grades and cumulative GPa with our GPA Calculator.


Chemical Equation Balancer

Balance any chemical equation in minutes just by entering the formula.


Word Counter & Page Calculator

Calculate the number of words and number of pages of all your academic documents.

Refer Just 5 Friends to Earn More than $2000

Check your estimated earning as per your ability




Your Approx Earning

Live Review

Our Mission Client Satisfaction

very good writings, good references and really good pronunciation. would do here again the other time. very recommended!!!


User Id: 409717 - 27 May 2020


student rating student rating student rating student rating student rating

must be a stupid expert who finished my assignment, don\'t trust it when they say, how good they are. They are all lies!!! i paid 148 dollars for 1000 words, and got less than 50%.!


User Id: 422981 - 27 May 2020


student rating student rating student rating student rating student rating

It was good and was satisfied with this. This is completed and was passed right away after the presentation. Thank you!


User Id: 238261 - 27 May 2020


student rating student rating student rating student rating student rating

They did a good job but this time i was no happy that much because i feel i need to let them again and again then even they did't done proper what i need but anyway once happend otherwise other all are mine good and i clear too


User Id: 247567 - 27 May 2020


student rating student rating student rating student rating student rating
callback request mobile
Have any Query?