Ethics:

Ethics in the accounting profession is defined as guidelines and principles. It includes laws and standards of behavior. Ethical reasoning is defined as a dilemma faced by the auditor and accountant.

Due care:

An accountant has knowledge of an accounting standard. Due care explains the accountant should observe all professional technical or ethical accounting standards to improve the quality of service.

GAAP:

GAAP stands for generally accepted accounting principles. It is the set of accounting principles and standards.

It was issued in 1973 for US public and private companies by the financial accounting standard board for issuing a public statement.

It is the set of accounting guidelines lines and rules used by the companies for financial reporting.