Please enable JavaScript.
Coggle requires JavaScript to display documents.
Chapter 8: The accountancy profession - Coggle Diagram
Chapter 8: The accountancy profession
Introduction to the accountancy profession
1.1. Definition:
Professional:
person
: người có kỹ năng, chuyên môn được đào tạo, có skills hành nghề trong lĩnh vực nào đó. Trong quá trình đó họ phải tiếp tục trau dồi
Accountancy: lĩnh vực ngành nghề trong kế toán - kiểm toán
Accountancy profession: những đơn vị tổ chức làm trong lĩnh vực ngành nghề đó
1.2. The importance of the accountacy profession
Ensure the effective working of capital markets: giảm
asymmetric information
Support public interest (meet expectation of society)
keep up to date with the expectations of society --> they can fulfil their role and build confidence in the profession
aware that people other than their clients/employers may rely on their works
Confidence in the profession's expertise and integrity, as demonstrated in high quality financial reporting and assurance, links:
(PA làm ở đâu
)
In business: Cty bình thường, làm ở các phòng ban tài chính kế toán kiểm toán
In public practice: tập hợp những kế toán viên/kiểm toán viên để đi cung cấp các dịch vụ cho công ty bình thường (Audit firms)
NOTE 1
: Bên cạnh ethics và technique thì cần phải cải thiện thêm
professional scepticism
critical thinking
professional judgement
NOTE 2:
Role of accountants in relation to sustainability and climate change
Sustainability solutions can be broadly divided into solutions based on
Regulation and intervention
Mandatory reporting requirements
: Accountants will have a role in collecting and reporting this information.
Regulations:
role in ensuring compliance with regulations relating to sustainability
Taxes and tariffs:
taxes levied on certain activities eg, pollution taxes
Grants:
help organisations improve their environmental behaviour
Compliance audits
or audits of sustainability reports may be required
Market forces
Limitations to the role: chỉ trong vai trò support their organisation in both meeting their objectives and fulfilling their obligations regarding sustainability and climate change. Their role is not to be:
Campaigners: e.g: persuading the directors of a company to improve their behaviour
Scientists: analysing the causes and implications of climate change
2. Regualtion of accountacy profession
NOTE:
Who can call themselves an accountant in the UK?
Accountant (UK) = anyone offer full range of accountancy service, except reserved areas (statutory audit, investment business, insolvency and probate - vì những công việc này đều có chứng chỉ hành nghề riêng của nó)
2.1.Why regulation of professions is necessary
provide the public interest with the protection and assuarance trong TH too technically complex for the public to be hợp lý để look after their own interests.
2.2. Methods of regulations
By goverment directly via
legislation
Delegated legislation
Self-regulation
: by the profession/industry itself
Phải lấy Public Interest làm nòng cốt
Những regulatory guidance and its importance phải dễ hiểu và hiểu tại sao phải tuân theo nó
members of the profession
'buy in'
to the process: members hiểu phải làm gì và thấy hợp lý và theo process đó
there is no unjustifiable self-protecting regulation
NOTE:
Oversight mechanism (Trên thực tế self-regulation cần có 1 hệ thống giám sát: oversight mechanism)
goverment
regulators
members of the profession
members of the publice
By a
combination
of methods
3. Professional responsibilities
3.1.
Professional responsibility
Ethics
Ethical behaviour
Professional ethics
Professional regulation by the ICAEW