Ethics is the moral principles that govern a person’s or group’s behavior. It also means the accepted codes of conduct. There are many classical theories, but they are mostly grouped into three basing on the structure of human activity (Rossouw & Van Vuuren, 2010). Consequentiality theory promotes good or valued end rather than using the right means. The various variations of this theory include utilitarianism, altruism, and egoism. Utilitarianism believes that actions are right if they produce the greatest total amount of well-being. Altruism means that actions should benefit other people in the society (Rossouw & Van Vuuren, 2010). greatest good or benefits to the person involved. It is also referred to as the habit of giving value to everything only in reference to one’s personal interest. However, moral egoism believes that actions should not necessarily harm others in order to benefit an individual (Gendron, Suddaby & Lam, 2006).

Deontological theory focuses on the action and the intention behind it. This theory claims that some actions are inherently wrong, and they cannot be justified by the predicted good consequences associated with them (Farrell & Cobbin, 2000). The theory urges people always to act in such a way that the precept of their action can be willed as a universal law of humanity (Gendron, Suddaby & Lam, 2006). Virtue theory focuses on the whole life of a person. Moral behaviors depend on the development of good habits or virtues. The theory goes ahead to states that the character matters above all else. Virtuous behavior is what a good person would do injudgment and acts on her best character traits (Rossouw & Van Vuuren, 2010).

public interests (Gendron, Suddaby & Lam, 2006).The responsibility of a professional accountant is, therefore, not to exclusively satisfy the needs of the client. In this case, he should comply with the ethical code of conduct (Armstrong, Ketz & Owsen, 2003). Accounting is faced with many ethical issues which need the intervention of classical ethical theories to solve them.

Accounting is often faced withn truthfulness and fair dealing (Rossouw & Van Vuuren, 2010). Accountants can use the virtue theory to ensure that they build a good profession (Gendron, Suddaby & Lam, 2006). Accountants should use the theory of altruism to ensure that their profession is beneficial to everyone in the society.

This profession is also faced with objectivity issues. Accountants should not compromise their professional judgment; as a result bias, conflict of interest or undue influence of others (Farrell & Cobbin, 2000). The theory of deontology guides them to only engage in actions that are inherently morally right. It’s the duty of the accountant to follow the laid down of people. Virtue theory help accountants to always do what they know is morally right without allowing any outside source of influence (Gendron, Suddaby & Lam, 2006). Accountants should apply these theories to ensure they remain objective to their profession.

theory of utilitarianism helps accountants to maintain the necessary professional skills and knowledge to make sure that they provide high-quality services to their clients (Farrell & Cobbin, 2000). This ensures that their actions are geared to benefit many people. The theory of altruism also helps them to maintain professional competence and due care to in order to lp many people in the society (Rossouw & Van Vuuren, 2010). The virtue theory helps them to only engage in morally right practices while discharging their professional duties. Applications of classical theories ensure that accountants offer high-quality services to their clients.

Confidentiality issues arise in day to day basis in the accounting profession. Accountants are not supposed to disclose personal information to eitherssion from a reliable authority (Gendron, Suddaby & Lam, 2006).The virtue theory discourages accountants from disclosing personal information as this is considered as an immoral practice in this theory. The deontology theory reminds them that confidentiality is an unbreakable moral rule in this profession. Utilitarianism sets clear rules that they can only disclose personal information if that action is bound to help a large number of people. Altruism explains that confidentiality can only be done if the activity will benefit many people in the society (Farrell & Cobbin, 2000).

Issues of professional behavior also arise in the accounting profession (Rossouw & Van Vuuren, 2010). Accountants are supposed to comply with the laws and regulations governing the profession to avoid actions that may discredit the profession. Deontology provides moral that benefit many people in the society (Farrell & Cobbin, 2000). These classical theories, when applied in the right manner, can help accountants to solve ethical issues that arise in their profession.

References

Armstrong, M. B., Ketz, J. E., & Owsen, D. (2003). Ethics education in accounting: Moving toward ethical motivation and ethical behavior. Journal of Accounting Education, 21(1), 1-16.

Farrell, B., & Cobbin, D. (2000). A content analysis of codes of ethics from fifty?seven national accounting organizations. Business Ethics: A European Review, 9(3), 180-190.

Gendron, Y., Suddaby, R., & Lam, H. (2006). An examination of the ethical commitment of professional accountants to auditor independence. Journal of Business Ethics, 64(2), 169-193.

Rossouw, D., & Van Vuuren, L. (2010). Business ethics. Oxford University Press: Southern Africa.