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Application of Ethics in the Accounting Profession with an Overview of the Banking Sector

Author

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  • Zoran Todorović

    (Faculty of Business Studies, University Mediterranean, Podgorica, Montenegro)

Abstract

This paper aims to investigate the readiness of the accounting community in Montenegro to implement the Code of Ethics for Professional Accountants. Also, the aim of this paper is to present the existing situation in the accounting profession in Montenegro, especially when it comes to the regulatory environment, in terms of whether it represents an incentive or limitation for the application of the latest ethical standards in the accounting profession. In modern business conditions, the relationship between ethics and business becomes the subject of research by numerous experts. The accounting profession took on itself the great responsibility to provide financial information to the public through professional accountants. Professional accountants are daily influenced by the challenges of the accounting profession. In the accounting profession, ethical problems involve two difficulties that are interconnected. One relates to the question of the nature of the accounting information in terms of whether it is a private or public good, and the other arises from asymmetrically distributed accounting data between those who benefit from the company’s business.

Suggested Citation

  • Zoran Todorović, 2018. "Application of Ethics in the Accounting Profession with an Overview of the Banking Sector," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 7(3), pages 139-158.
    • Handle: RePEc:cbk:journl:v:7:y:2018:i:3:p:139-158
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    File URL: http://www.cbcg.me/repec/cbk/journl/vol7no3-8.pdf
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    Cited by:

    1. State Violeta & Tănase Loredana Cristina & Petre Raluca-Georgiana, 2019. "Study Regarding the Respect of Professional Ethics and Deontology in the Promotion of Accounting Services in Romania," Valahian Journal of Economic Studies, Sciendo, vol. 10(1), pages 89-98, July.

    More about this item

    Keywords

    professional ethics; accounting profession; professional accountant; ethics of managing accountants;
    All these keywords.

    JEL classification:

    • G00 - Financial Economics - - General - - - General
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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