Professionalism and Ethics in Accounting: Four Core Traits

Introduction

The accounting profession is one of great responsibility and duty. Certain obligations are required of those who wish to manage the financial affairs of the businesses and organizations that sustain the economy and, ultimately, motivate the broader population. The purpose of this essay is to explore the professional qualities necessary for success within the accounting and financial management fields. Four explicit and specific characteristics that constitute professionalism in accounting will be identified and explained. Additionally, personal perspectives on what factors are needed to be a professional in today's complex and fast-paced society will be offered.

The Four Attributes of Accounting Professionalism

A widely cited framework outlines four distinct attributes of a professional: commitment to serve, integrity, objectivity, and competence. These terms together form a comprehensive set of standards through which professionalism can be understood. Acquiring these attributes may lead to distinguishing behaviors such as self-regulation, pursuit of professional education, and licensing. Professionalism, therefore, is distinct from pursuing something for mere personal satisfaction or without meaningful purpose. Deliberate action that operates within systems of order and regulation is essential in any professional field.

Commitment to Serve and Integrity

Commitment to serve is foundational for those wishing to become accountants. Total responsibility — not only to the fairness of the law, but also to the client and the organization the accountant serves — requires a self-sacrificing attitude and a dedication to a purpose higher than mediocrity. Financial statements are tools upon which companies place enormous amounts of effort and trust. It is therefore critically important to maintain objective principles while practicing this profession. This ultimately demands a deep commitment to honesty and to doing the right thing even when no one is watching. Selfless service to others demonstrates how society can coexist peacefully when professional standards are upheld.

Integrity may be the most important characteristic of professionalism. It requires respect for the truth and for the processes that lead to its discovery. The principle of treating others as one wishes to be treated lies at the heart of integrity. Honesty should only be expected when it is genuinely extended to others. Trust and faith are the guiding values that define the limits of what an accountant may or may not do — and these require an understanding of the intent behind the profession's founding principles. While ethical guidelines provide pathways to integrity, only when subjective experience is measured against those standards can a true representation of integrity emerge.

Because integrity is grounded in ethics, important questions follow: "Are we not teaching our students enough ethics? Can ethics be taught? If so, how do we best teach ethics to accounting students?" (Faour, 3). Educational integrity may be cultivated through an ethical baseline of understanding. This illustrates how the four professional attributes naturally encourage a tendency toward self-regulation. Ethical debates tend to be circular in nature, which makes it all the more important for accountants to have specific professional ethical codes to follow in order to preserve the essence of professionalism.

Conclusion

Faour, Imad. "Professionalism and Ethics in Accounting Education." The Certified Accountant, 3rd Quarter, 2008, pp. 1–8.

KPMG Handout. The Ethical Compass. 2007.