Ethics In Accounting
Running head: ETHICS IN ACCOUNTING
Organizational Ethics in Accounting:
A Comparison of Utilitarianism and Christian Deontological Principles
Katherine Y. Masten
A Senior Thesis submitted in partial fulfillment of the requirements for graduation in the Honors Program
Liberty University
Spring 2012
1
ETHICS IN ACCOUNTING
Acceptance of Senior Honors Thesis
This Senior Honors Thesis is accepted in partial fulfillment of the requirements for graduation from the
Honors Program of Liberty University.
______________________________
Melanie A. Hicks, D.B.A.
Thesis Chair
______________________________
Gene R. Sullivan, Ph.D.
Committee Member
______________________________
Lynnda S. Beavers, Ph.D.
Committee Member
______________________________ …show more content…
Although these codes of ethical conduct are not uniform across all organizations, the FASB does provide topics that it believes organizations should address in their codes of ethical conduct. The scandals of the 1970s eventually led to the passage of the Foreign Corrupt Practices Act in 1977 and further legislation in the 1991 Federal Sentencing Guidelines (Ethics
Resource Center, 2009). More recently, one of the primary reasons in favor of the establishment of a formal code of ethics was in response to the scandals and ultimate downfall of Enron, Tyco, WorldCom, and other large organizations. In response to these organizational catastrophes, Congress enacted SOX in 2002, which ultimately led to the organization of the Public Company Accounting Oversight Board (PCAOB). Stevens
(2008) comments how codes of ethical conduct and responses/actions to counteract the lack of ethical behavior in large organizations tends to be a cyclical response over time.
According to Stevens, “History shows that the development of codes of ethics in corporate America is cyclical and reactive, generally responding to gross
Organizational Ethics in Accounting:
A Comparison of Utilitarianism and Christian Deontological Principles
Katherine Y. Masten
A Senior Thesis submitted in partial fulfillment of the requirements for graduation in the Honors Program
Liberty University
Spring 2012
1
ETHICS IN ACCOUNTING
Acceptance of Senior Honors Thesis
This Senior Honors Thesis is accepted in partial fulfillment of the requirements for graduation from the
Honors Program of Liberty University.
______________________________
Melanie A. Hicks, D.B.A.
Thesis Chair
______________________________
Gene R. Sullivan, Ph.D.
Committee Member
______________________________
Lynnda S. Beavers, Ph.D.
Committee Member
______________________________ …show more content…
Although these codes of ethical conduct are not uniform across all organizations, the FASB does provide topics that it believes organizations should address in their codes of ethical conduct. The scandals of the 1970s eventually led to the passage of the Foreign Corrupt Practices Act in 1977 and further legislation in the 1991 Federal Sentencing Guidelines (Ethics
Resource Center, 2009). More recently, one of the primary reasons in favor of the establishment of a formal code of ethics was in response to the scandals and ultimate downfall of Enron, Tyco, WorldCom, and other large organizations. In response to these organizational catastrophes, Congress enacted SOX in 2002, which ultimately led to the organization of the Public Company Accounting Oversight Board (PCAOB). Stevens
(2008) comments how codes of ethical conduct and responses/actions to counteract the lack of ethical behavior in large organizations tends to be a cyclical response over time.
According to Stevens, “History shows that the development of codes of ethics in corporate America is cyclical and reactive, generally responding to gross