hi

TABLE OF CONTENTS
Introduction
Accountant Ethics
Conflict of Interest
Integrity and Objectivity
Professional Competence and due care
Confidentiality
Members in Practice
Career Opportunities
Technological Advancements in the field of Accounting
Impact of Technology
Surprising Information
Accountants in India
Group Opinion
Appendix
References
This paper discusses the various technological advancements in the field of
accounting that are available today or expected to soon be available to accounting
professionals. While technology does make the accounting work simpler, cheaper and more
efficient, it poses significant challenges to the skills and ethics of accountants. This is besides
the impact that it will have on the career opportunities available to accountants.
The paper also discusses the skills and ethics required to be possessed by accounting
professionals in detail. While technology is increasingly being integrated with accounting, it
does pose certain risks and requires changes to the skills required by accountants.
Accountant Skills
As per the research conducted by this group, we have identified 12 accounting
advertisements from the sources mentioned in the assignment. The same are attached in an
appendix at the end of this paper.
Most of the advertisements detail the work required to be done by the accountants
which vary vastly in terms of the type of role to be performed. The accountants are also
equired to have various skills which are very specific in nature. Most of the openings require
the accountant to travel and attend conferences to keep himself/herself a
east with the
technological changes in the field of accounting. The roles require the candidate to have
excellent ve
al and written skill. That implies that the candidate is required to liase with the
clients on a regular basis in the course of fulfilment of his/her duties. Accountants are also
equired to be team players. They are expected to be able to manage a team of a few people
and not simply work in isolation. That calls for polished interpersonal and soft skills. Most
accountants are also expected to have a positive approach. This is keeping in mind various
challenges that might be encountered during the course of performance of duties. The
accountants are also expected to have a proactive attitude. Again this stems from the various
changes in laws and accounting standards that organizations are expected to implement from
time to time which accountants have to be aware of and must be able to incorporate those
changes in the organization.
A few roles that have been researched are part time positions. Such roles also require
strong accounting skills and attention to detail. These roles ask for strong ability to meet strict
deadlines. The candidate is required to be a quick learner with expertise in software
operations. A major highlight of most job requirements researched is that the accountants are
expected to maintain a high degree of accounting integrity in the accounting process.
Reconciliations of various accounts maintained is another important task required to be
performed by accountants. Strict compliance with respect to financial standards is to be
ensured. Collation of data and maintaining accurate records is a must. Some jobs require the
candidate to train the other members in the team also. Some are internal audit roles which
equire the accountant to interact with the external auditors and co-ordinate the two functions.
Thus, the research shows that the accountants are expected to have a combinate to
high degree of professional knowledge along with various soft skills. Of these being
energetic, passionate, willing to travel and being able to manage a team and interact with
clients as well as external parties play and important role.
Accountant Ethics
Ethics has gained focus not only in the field of accounting but in every field of
usiness. While there are many things that accountants can do within the periphery of law,
such activities may not always be ethical. A discussion on the various ethics which
accountants are required to have follows (APESB, 2017).
In general, accountants are expected to maintain integrity, due care, confidentiality
and professionalism in all their dealings whether within the organization in which they
operate or with external parties. Accountants in Australia are regulated by The Accounting
Professional and Ethical Standards Board (APESB). The body has issued a new compiled
Code of conduct in 2017 for members. By the Code, accountants are expected to exercise due
diligence in recognition of threats and use appropriate safeguards against the same. It is up to
the accountants to be able to identify safeguards that are created by the profession and
safeguards in the work environment. Safeguards are created by the profession by way of
education, training and professional standards to name a few. Similarly safeguards against
different types of threats are created by the work environment by way of compliance to the
systems set up within the organization as also by a duty imposed on accountants to report
eaches of ethics.
Conflict of Interest
During the course of their engagements, accountants may encounter various situations
where there may be a conflict of interest. This may be either in the form of a personal vs
professional interest or due to being related to the client in a manner other than professional
elation. Accountants are expected to manage conflicts of interest in an appropriate manner.
When resolving a matter concerning conflict of interest, the member is expected to select the
appropriate course of action after considering the various options of action available to him.
The accountant also has to decide whether the conflict is of a nature which requires
consultation with the management or Board of Directors. There may be times when the
member is unable to decide the appropriate course of action. In that case, the onus is on him
to take professional guidance from the relevant body or legal advisors. He has to however,
take caution as to discuss the matter anonymously so as not to
each the confidentiality
principle. Moreover, if the conflict of interest remains unresolved, the accountant has to
decide whether to continue his association or to sever the ties with the assignment or
organization concerned.
Integrity and Objectivity
Accountants by the code are expected to be honest and straightforward in their
dealings. If they are aware of any misleading report or false statements in the financial
statements of the organization, they should not sign off the same. The accountants are
expected to ensure that all information provided is complete and co
ect. Similarly they are
equired to maintain objectivity in the course of their duties and not to allow personal bias to
seep in their work.
Professional Competence and due care
Accountants are required to take all reasonable steps possible to ensure that they use
their professional knowledge to the maximum. They must act diligently in...