Ethics vs Law
This is the term for behavior that’s morally right but not necessarily required by law.
Ethics
This principle ensures that accountants do not fall subject to bias
Objectivity and Independence
This psychologist created a 6-stage model of moral development
Kohlberg
An accountant finds a legal tax loophole that benefits a client but harms public trust. This behavior is legal but may lack this quality
Integrity
What principle states you should always keep your knowledge up to date
Due Care
In Rest’s 4-component model, this is the ability to recognize that a situation has ethical implications
Moral Sensitivity
Give one example of something legal in the U.S. that may still be considered unethical in the accounting profession.
Loopholes/Aggressive Accounting
This principle emphasizes the duty to serve not just clients but also the public’s trust in the profession.
Public Interest
This stage encompasses the "Good Boy/Girl" development
Stage 3