Answer :

Accounting ethics is an important topic because, as accountants, we are the key personnel who access the financial information of individuals and entities.

Ethics and ethical behavior refer more to general principles such as honesty, integrity, and morals. The code of professional conduct, however, is a specific set of rules set by the governing bodies of certified public accountants.

One of the key rules set out by professional accounting bodies in North America is the idea of independence.

There are two forms of independence:

  1. Independent in fact
  2. Independent in appearance

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