Ethical Obligations and Decision-Making in Accounting 2nd Edition by Steven Mintz, Roselyn Morris

Exercise 19

The UK Serious Fraud Office is an arm of the UK Government, accountable to the Attorney-General. Established by the Criminal Justice Act 1987, the Serious Fraud Office is responsible for the investigation and prosecution of suspected cases of serious or complex fraud where £1 million or more are involved or covers more than one national jurisdiction. According to its website, fraud “is a type of criminal activity, defined as: abuse of position, or false representation, or prejudicing someone’s rights for personal gain.” Compare this definition to the definition of fraud in the U.S. Do you think there are any meaningful differences?

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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.