Ethics and Integrity of the Professional Accountant

• Author: Laptes R.
• Position: Transilvania University of Brasov
• Pages: 87-92

Bulletin of the Transilvania University of Braşo v

Series V: Economic Sciences • Vol. 12 (61) No. 2 – 2019

https://doi.org/10.31926/but.es.2019.12.61.2.11

ETHICS AND INTEGRITY OF THE PROFESSIONAL

ACCOUNTANT

Ramona LAPTEȘ1

Abstract: Since the emergence of accountancy and financial audit, ever

since Antiquity, to this day, the professional accountant’s role has constantly

acquired new nuances and valences at every stage of the evolution of human

societies. The history of accountancy and audit unequivocally proves that the

accountant’s professional competencies have always been based on certain

demands related to the professional accountant’s ethics and morality.

Nowadays, perhaps more than ever in society’s evolution, the strict

compliance by all professional accountants, whether auditors or

accountants, with the requirements imposed by the Code of Ethics fo r

Professional Accountants, adopted by International Ethics Standards Board

for Accountants (IESBA) is required.

Key words: professional accountants, Code of Ethics, IFAC, independence

1. Introduction

The emergence and development of financial audit is closely related to the emergence

and evolution of accountancy. Accountancy and audit are among the oldest professions

in the world (Neamțu, Roman and Țurlea, 2012). Ever since Antiquity, when the bases of

accountancy were laid in its incipient form, there was a nee d to identify frauds and to

punish the perpetrators, a need that generated the first rudimentary financial-audit

practices. Interestingly, in Antiquity, the professionals who were called to conduc t

verifications regarding errors and frauds, were priests and accountants, recognised for

their moral qualities. Therefore, in the field of accountancy, due to the accounting

professional’s role to produce and communicate quantitative and qualitative

information related to assets and, subsequently, through the financial auditor’s mission

to validate this information, a special emphasis has always been placed on the

accounting professional’s ethics and morality, be h im/her either auditor or accountant.

Until the 16th century, the auditing practices mostly aimed at verifying the honesty of

the persons who had financial responsibilities (Dobroțeanu and Dobroțeanu, 2002).

Moreover, until the 18th century, the auditing works were conducted by priests and

accountants, recognised for their moral qualities and were requested by kings,

1 Transilvania University of Braşov, ramona.laptes@unitbv.ro