Can dishonest clients and chartered accountants co-exist?

Article Abstract:

The ethical decisions facing a public accountant are exemplified through a fictional account of an accountant who discovers that his client is engaging in dishonest business practices. The client, a small businessman, has failed to report approximately 40,000 pounds sterling in annual profits from international sales for the previous two years. The accountant discovers this omission accidentally. Four options for resolving the problem are discussed: (1) consulting the Professional Code, since in this case the accountant is a member of the Institute of Chartered Accountants of Scotland; (2) doing nothing; (3) gaining a more complete understanding of the issues involved; or (4) evaluating the financial effects of disclosure. The hypothetical situation is complicated by the fact that disclosure of the unethical practice will cause many company employees to be laid off.

Accountants

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Ethical investment and corporate reporting

Article Abstract:

Corporate reports have traditionally been designed to satisfy accountability demands and to add to investment decision-making, but an added factor has evolved in recent years: the ethical and social aspects of investing. Ethical investment stems from the notion that one should only invest in opportunities consistent with one's personal and social belief systems. Mutual funds or unit trusts that are 'socially responsible' have been growing in number to meet the needs of investors with such concerns. The implications for accountants are that they could get involved with examining aspects of business performance such as employee and customer relations, environmental impact, social utility of services or products, and operations in countries that have oppressive regimes.

Accounting and auditing, Mutual funds, Corporate social responsibility, Corporation reports, Company reports

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A taxing relationship

Article Abstract:

Tax accountants and government tax inspectors in Great Britain have an adversarial yet symbiotic relationship. Each depends on the other's existence for a livelihood, but both are frequently at odds over tax issues. From the viewpoint of the tax accountant, there are a number of especially irritating practices of the Inland Revenue Service. Technical advice is difficult to get. When inspectors can be reached, responses are very slow. Tax estimates are frequently wrong, and when government refunds are in order, the amounts are also wrong. Investigations of a clients' tax affairs tend to be lengthy and expensive.

United Kingdom, Tax accounting, Practice, Scotland, Industrial policy, British foreign relations, Industry regulations, Tax policy, Government regulation of business, Trade regulation, United Kingdom. Board of Inland Revenue, Great Britain

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