In the business environment within which accountants work, decisions are most often being made to maximise profits. When accountants provide information within this environment there may be pressure to exercise professional judgement or discretion to produce the most favourable outcomes for a company.
To navigate this, students need tools in their soft-skill set and a broader awareness of a changing landscape of higher standards of integrity and regulatory compliance. Therefore, students need to develop a strong awareness and understanding of the role of ethics before they enter the profession. To help educators, Wiley’s suite of accounting titles such as Loftus’ Financial Reporting, 4th Edition have enhanced the coverage of ethical practices and decision making throughout the texts. Dr Hazelton explains,