Assignment Task: Read article and answer the questions.
Article: It's Time for Principles-Based Accounting Ethics by Albert D. Spalding Jr. Alfonso Oddo.
Question 1: Do you agree with the authors that a code of ethics should do more than establish minimum acceptable standards? Why or why not?
Question 2: Describe the five cardinal virtues of professional accountants that the article's authors discuss.
Question 3: We've talked about rules-based versus principles-based accounting standards. Should we have rules-based ethics standards? Why or why not? Should they tell you exactly what to do in specific ethical situations?
Question 4: Compare and contrast the AICPA's Code of Professional Conduct and the IFAC Code of Ethics for Professional Accountants.
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Attachment:- Article-Principles-Based Accounting Ethics.rar