Problem
The article I found discussed proposed changes in accounting ethics to help deter corporate tax dodging. I believe the situation was handled correctly. There were many corporate companies using accountants to avoid paying taxes. With this new revisal of the code of ethics, it will help facilitate such tax strategies to strengthen the ethical expectations of such accountants at these companies, as well as public practice companies when performing tax activities.
One of the GAAP principles is the Principle of Utmost Good Faith. I feel this revisal in ethics will help to uphold this principle in the practice of accounting in these corporations and smaller businesses.
References
Cohn, M. (2023). Changes proposed in accounting ethics to deter corporate tax dodging. Accountingtoday.Com, N.PAG.
In your responses to your peer, address the following:
o Do you agree with your peers' responses on how the situation was handled? Why or why not? If you do not agree, provide at least one constructive suggestion on how to handle the situation.