The Way We Were

The Lawyer's duty is first of all to his client, and that duty frequently compels him to avail himself of technicalities and other means of enabling that client to evade the Law and its penalties; but the Public Accountant has only one duty to his client and the Public, and that is to disclose...

Full description

Saved in:
Bibliographic Details
Published in:The CPA journal (1975) 2019-02, Vol.89 (2), p.11-12
Main Author: Love, Vincent J
Format: Article
Language:English
Subjects:
Accounting firms
Assurance services
Audit quality
Auditing
Auditing procedures
Audits
Consulting firms
Ethics
Financial statements
Fines & penalties
Objectivity
Professional ethics
Professionals
Public interest
Tax services
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:The Lawyer's duty is first of all to his client, and that duty frequently compels him to avail himself of technicalities and other means of enabling that client to evade the Law and its penalties; but the Public Accountant has only one duty to his client and the Public, and that is to disclose to him or for him 'the truth, the whole truth, and nothing but the truth ' so far as his abilities and special training to that end enable him to ascertain it. - What needs to be done is for firms and self-regulatory organizations to step up their implementation of professional standards through setting the tone at the top and enhancing the enforcement of, and penalties for failure to follow, relevant ethical standards. The accounting profession's public consists of clients, credit grantors, governments, employers, investors, the business and financial community, and others who rely on the objectivity and integrity of members to maintain the orderly functioning of commerce. Vincent J. Love, CPA/CFF, CFE, is the chairman of VJL Consulting, LLC, New York, N. Y., and a member of The CPA Journal Editorial Advisory Board.
ISSN:0732-8435