Vol. 2, Issue 12, Part J (2016)

Ethics is a branch of philosophy that studies the difference between right and wrong. We have many opportunities to decide between right and wrong, and making wrong decision can lead to serious problems including corporate failure, loss of reputation, fines, or even jail sentences.

People will come close to an ethical conclusion with different points of view, and we must all accept that different cultures, for example, approach ethics in different ways. In any situation, we must begin with the laws of your country. Secondly we look open the open rules that govern the situation. For example, if we are an auditor, we will be bound by the applicable auditing standards in our jurisdiction. Then, as a professional, we must consider the morality of our professional body which form the basis of our professional ethics.

Most would see themselves as ethical. We usually like to feel we have done ‘the right thing’. Our personal ethics are as important as our professional ethics. Clearly, membership of a professional body requires devotion to a code of ethical conduct. As accountants, we ‘profess’ to a high standard of ethical behavior. This problem is not limited to professional vs personal. All of us are confronted with the reality of rules or laws that we personally believe are unfair or corrupt. We have to determine how to dodge this problem.

This paper basically attempts to trace the synergy between ethics in the professional world and personal world. It will also try to understand people's take on ethics from both dimensions in the Indian society.