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Mann (2006) declares that "The importance of ethics in business, and specifically in financial reporting is to inspire and ensure public and investor confidence in entities." He further states that "Accounting professionals must have a strong grounding in ethical and moral reasoning as their decisions regarding financial reporting can have devastating consequences not just for individuals but also for corporations and entire nations." The truthfulness of these statements have been borne out many times in recent years.
The article maintains that organizations need several watchdogs to keep them accountable...
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