ACC 521 Chapter Notes - Chapter 3: Client Confidentiality, Ethical Dilemma, Accountant

• School: Ryerson University
• Department: Accounting
• Course: ACC 521
• Professor: Larry Yarmolinsky

Document Summary

Chapter 3 auditors" ethical and legal responsibilities. Introduction: three types of responsibility norms of behavior, moral character and doing the right thing". Legal the risks auditors accept in a court of law while practicing public accounting. Involves guides of right and wrong (moral principles). Philosophical principles in ethics: two types of ethical theories: situation. duty/obligation, monistic theories assume universal principles apply regardless of the specific facts of a. Deontological (kantian) ethics an action is right if it is based on a sense of. Goal: to do the right thing or learn the truth: clarify the auditor"s role in the engagement, learn the views of others on the situation (ethics plays a major role here, contextual factors, accountability relationships, conflicts of interest. Identify what issues need to be resolved in the engagement: using moral imagination to make sure all moral and ethical issues have been taken into.