Page 66 - SBL Integrated Workbook STUDENT 2018

Chapter 7

 Accountability

– obligation of an individual or organisation to account for its actions and
activities

– clarity in communication channels with internal and external stakeholders

– development and maintenance of risk management and control systems.

 Reputation

– developing and sustaining personal reputation through other moral virtues

– developing and sustaining the moral stance of the organisation

– developing and sustaining the moral stance of the accounting profession.

 Judgement

– ability to reach and communicate meaningful conclusions

– ability to weigh numerous issues and give each due consideration.

 Integrity

– adherence to strict ethical standards despite any other pressures to act
otherwise

– underlying and underpinning principle of corporate governance and it is
required of all those representing shareholder interests in agency
relationships

Illustrations and further practice

Now read Illustration 1 and 2. Try TYU question 2.

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