Why is ethics important in auditing?
Ethics in auditing ensures integrity, transparency, and trust in financial reporting, which is crucial for stakeholders.
Can you give examples of ethical dilemmas auditors might face?
Sure! Auditors may face dilemmas like pressure to overlook discrepancies or conflicts of interest with clients.
How do ethical standards impact the auditing profession?
Ethical standards uphold the profession's credibility, guiding auditors in making decisions that protect public interest.
What are the consequences of unethical behavior in auditing?
Unethical behavior can lead to financial fraud, loss of reputation, legal penalties, and diminished public trust.
How can auditors maintain ethical standards in their work?
Auditors can maintain ethical standards by adhering to professional codes, continuous training, and fostering a culture of integrity.
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