Page 221 - SBL Integrated Workbook STUDENT 2018

Professionalism, ethical codes and the public interest

The public interest

2.1 What is the ‘public interest’?

The public interest can be defined as that which supports the good of
society as a whole (as opposed to what serves the interests of individual
members of society or of specific sectional interest groups).

 The distinguishing mark of a profession is the acceptance of a responsibility to
the public.

2.2 Accountants and the public interest

 Accountants do not generally act against the public interest.

 The ethical code applicable to most accountants confirms that such action is not
normally appropriate.

Note: An area of particular relevance to accountants will be that of disclosure of
information:

Illustrations and further practice

Now try TYU question 1 and read Illustration 3.

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