Professional Behavior.

A professional accountant should com*ply with the relevant laws and regulations and
should avoid any action that discredits the profession.

UNETHICAL BEHAVIOUR
Unethical accounting occurs when businesses bend accounting rules or falsify their
financial statements to present a more favourable picture than actually exists.
For example, a business may intentionally list higher assets but hide debt or other
liabilities to qualify for a loan or sell a business.

Other unethical Behaviours In the accounting profession are:

1. Providing erroneous information regarding the expenses incurred by a business.
2. Exaggerating the revenue of a business.
3. Misappropriation or embezzlement of business fund.
4. Providing wrong information to the tax authority
5. When the same firm prepares and also audit the financial statement of that
company. This is very wrong because fraud might not be detected and it won't
represent a fair view of the company's financial statement.
6. Manipulating financial statement, also known as window dressing in accounting.
7. Using confidential information for person gain, e.g blackmail.
8. Practicing with a fake license.

PENALTIES FOR UNETHICAL PRACTICES

Any of the following penalties can be meted out to any accountant caught doing
unethical practices
1. Suspension of license
2. Termination of the right of the accountant professional to practice
3. Expulsion from membership
4. Fines and perjury charges
5. Jail terms depending on court orders.