As a professional accountant, it must keep the rig
This essay As a professional accountant, it must keep the rig has a total of 627 words and 3 pages.
As a professional accountant, it must keep the right of confidentially, which an accountant in public practice shall not disclose any confidential client information without the permission of the client. The client has the right to have access to those information which related to the client and permission to transfer the information to another accountant or any third parties. However, the right of confidentially is also applied by the auditor when fraud is found during an audit. Usually, the behavior of disclose the fraud to parties other than the audit client and the audit committee is against the auditor ethical and legal obligation of confidentially. In audit fuction, it is hard to justify no matter the protection of client's information is an important skills of a profession. Therefore, it is also hard to justify when there is a priviledged relationship between accountant and client when a violation of law is found but not reported. The willful misstatement of public financial information is probably the most critical breach of trust to the social within the accounting practice. According to the critical level of crime of law violation and faithfullness to the investor, creditors and those may concerned which advocated by the court, an accountant is full of pressure to choose that there is greater damage results in breaching of client ' s confidentially financial information than in report a found fraud to the third parties which is not related to the company and it ' s audit committee. Other than that, as a professional and prudent accountant, when the account client is found the violataion of law, we should ensure that whether is the company did it accidentally or purposely. If the company did it accidentally, we should give them advise and and help them to solve the problem. However, if the company did it purposely, we should advice the client as well, we have to discuss with their audit committee and ask them to solve the violation. Normally, a company pursuits profit more than anything, so if the company insists on the violation of law to earn more profit, we should decline this kind of client, since if the news of law violation of a company had been exposed, their accountant and auditor will be implicated as well. In other hands, the accountant should disclose and report the fraud to concerned departments if the law violation had interrupted the communities around the company. To make sure the reputation of a professional accountant will not been spoiled, a prudent accountant should give them advise or straightforward reject this kind of client, since the good reputation is important for a human being and an accountant. In conclusion, according to the responsibilities of a professional and prudent accountant, we should report this kind of problem to the audit committee when law violation was found and see whether are they willing to solve the problem since we have no right s and permission to disclose the financial information to the third parties. If the audit committee still insist on the violation of law and not willing to change, we should reject to continue provide the accounting service to them to protect the reputation of accountant itself or disclose and report to any concerned department if the fraud was harming the communities around, especially investor, creditor and those third parties that may concerned since they have the rights to know what is their invested company doing now. All the investors, creditors and concerned third parties must know the situation of a company, so they can protect themselves from implicated into the case, and protect from the loss of the company if the law violation had been exposed to communities because this problem will make the company end up bankrupt if seriously.
Topics Related to As a professional accountant, it must keep the rig