Business ethics and the accounting profession

Business ethics emerged as a major public concern following a spate of corporate collapses during the 1980s and early 2000s, Corporate collapses such as HIH and Harris Scarfe in Australia; Enron, Worldcom and Global Crossing in the US; and Parmalat in Europe, have precipitated questions about the business and accounting practices of these firms and the role played by their accountants and auditors, According to Armstrong et al. (2003, p, 1), <i>one can hardly pick up a business publication today without noting some reference to an accounting scandal....The sheer number of accounting abuses serves as prima facie evidence that something more is needed in terms of accounting ethics.</i><br />