Unethical Practices and Behavior in Accounting

Unethical Practices and Behavior in Accounting

Ethics and accounting, some people may think this is just an analogy for oil and water in that they do not mix. Within any business there are always chances of someone pursuing unethical practices either to climb the cooperate ladder or try to and hide with some kind of under hand dealings. The definition for unethical is not conforming to approved standards of social or professional behavior. Some of the most common unethical practices are business espionage, fake customer testimonials, and promising something new and better (Tough Biz, 2011). Along with unethical practices there are also unethical behaviors that consist of deliberate deception, failure to honor commitments, and a disregard of company policy (Duff, n.d.). These practices and behaviors may not seem harsh but could damage a company to the point of closing its doors. Sarbanes-Oxley Act of 2002 (SOX) established to curtails such unethical practices and behaviors to ensure a company complies with the regulations stated in the act.

Today more than ever companies are trying to remain competitive in the business world using any little slight of hand trick to a full blown Ponzi scheme to compete for business. This brings companies to the brink in using unethical practices to remain above water. These practices like business espionage seek out important corporate trade secrets that may benefit their own business agendas. Espionage has been since the beginning of time hiring of a new employee who sticks around long enough to learn the company secrets and continues on to the competition. Second, there are more websites sites out today listing fake testimonials from doctors to lawyers giving favorable reviews and testimonials only to boost business reputation and reliability. Third, some companies want to paint a picture of themselves as innovative and trendsetter by promising new and better products and services (Tough