Deep in the Heart of Business
The highly publicized corporate downfalls of recent years have provided the marketplace a painful reminder that even the most successful players with hotshot managers aren't immune from bankruptcy. And at the center of it all: ethical accounting.
"Ethics is the heart of America's economy and social freedom. Unethical behavior is a dagger in the heart," says Dr. L. Murphy Smith. "The only way people can make good investment decisions is by relying on accurate financial information."
In the March 2003 Accounting Horizons article, "A Fresh Look at Accounting Ethics," Smith and co-author Associate Professor of Accounting David Kerr describe the importance of moral leadership and individual integrity within the accounting profession, particularly in regard to public confidence in the financial markets. The article is based on Smith's opening statement to the U. S. House of Representatives Subcommittee on Commerce, Trade, and Consumer Protection in 2002.
"Accountants are committed to do their job according to the highest ethical standard," says Smith. "I am optimistic that accountants will continue their historical role to foster success of the economy and nation." @
-Alycia C. Zuehlke
