Auditing and Assurance Services 9th Edition by Alvin Arens,Mark Beasley,Randy Elder

Exercise 17

Which of the following statements best explains why public accounting, as a profession, promulgates ethical standards and establishes means for ensuring their observance?
A) Vigorous enforcement of an established code of ethics is the best way to prevent unscrupulous acts.
B) Ethical standards that emphasize excellence in performance over material rewards establish individual reputations for competence and character.
C) Ethical standards are established so that users of accounting services know what to expect and accounting professionals know what behaviors are acceptable, and so that discipline can be applied when necessary.
D) A requirement for a profession is to establish ethical standards that primarily stress responsibility to entities and colleagues.