The atitude and behavior of professional accountants in providing auditing and assurance services have an impact on the economic well - being of their community. Accountants can remain in those advantageous positions only by continuing to provide the public with these unique services at a level that demostrates that the public confidence is well - founded.The standards of the accountancy are heavily determined by the public interest. Therefore the objectives of the accountancy profession are to work to the highest standards of professionalism, to attain the highest levels of performance and generally to meet the public interest.
Ethics deals with how people act towards one another and underpins the foundations of a profession. Accountants, like other professionals, are expected to demonstrate adherence to ethical values and professional conduct, in accordance with the norms established by their profesion.The framework provides a basis for exercising their professional judgments and decisions.
The willingness of accountants to subscribe, voluntarily, to a written code to ethics has contributed significantly to the stature and reputation of the profesion.The professional body's codes of conduct provide mechanisms for investigating complaints of unehtical conduct, and imposing sanctions of members.These codes address the issue of professionalism through a set of fundamental principles, and prescribes practical and enforceable standards, witch evolve over time to reflect change in the profession and expectations by society. However, the ethical envrionment is witch accountants and auditors operate has been subject to a gap between the expectations of users and that the profession believes is required of auditors.