Analysis Of International Ethical Standards In Accounting

Abstract

This study examined the international standards regarding ethics education for professional accountants in the International Federation of Accountants International Education Standard (IES 4) and International Education Practice Statement 1 and analyzed the curricula of a set of U.S. AACSB institutions to assess if they are meeting the ethics requirements. None of the schools selected for this study appears to have met the ethics requirements to an acceptable level; however, the private (religious-based) institutions examined came closer to the international model for ethical education for professional accountants. The study further suggests that the lost faith in the accounting profession and financial reporting system can only be regained by constructive efforts of U.S. regulators, educators and accounting professionals.