ETHICAL CONSIDERATIONS IN PUBLIC ACCOUNTING PRACTICES
This research explores the ethical considerations in public accounting practices. The objectives are to identify the key ethical issues faced by public accountants, to evaluate the impact of ethical considerations on public accounting practices, and to propose strategies for enhancing ethical standards in the profession. A survey research design was used to collect data from public accounting professionals. Using Taro Yamane's formula, a sample size of 215 respondents was selected to ensure statistical significance. The study focuses on Lagos, Nigeria, due to its large number of public accounting firms and diverse business environment. The reliability coefficient score for the survey instrument was 0.88, indicating high reliability. Findings reveal that ethical issues such as conflicts of interest, confidentiality breaches, and pressure to manipulate financial statements are prevalent in public accounting. Ethical considerations significantly impact public accounting practices by influencing the behavior and decision-making of accountants. The study recommends that public accounting firms establish robust ethical guidelines, provide regular ethics training for their staff, and promote a culture of integrity and transparency within their organizations.
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