Week 6 Assignment Research Paper Example | Topics and Well Written Essays - 2750 words

Week 6 Assignment - Research Paper Example Business practices differ from one state to another based on the company culture in the respective countries. The appreciation of a county’s entrepreneurial culture and hierarchy allows smooth running of commercial activities devoid of unethical circumstances. There are multiple challenges associated with ethics in global business; however, there are various roles that standards plays in the same setting. This paper seeks to examine the need and the importance of establishing a global set of ethical standards, the history and growth of international ethical standards, as well as the challenges that governing bodies face. The accounting field is a constantly growing and changing industry. Accounting was regarded an area with high ethical standards until recently. The business world has recently experienced high profile failures through unethical behavior. Conducting business internationally may cause numerous ethical concerns. Some of the ethical issues are corruption, diverse cultures and customs, human rights, and different working environments. The economy of today is becoming globally smaller; for this reason, corporate institutions across the globe are becoming co-dependent on one another on local and international viewpoint. For instance, labor, information technology, raw materials, and finance. The American Institute of Certified Public Accountants draws the behaviors within the United States during the International Federation of Accountants (IFAC), outlines international ethical standards and practices. The principle of one ethics system requires the understanding of the ideologies and operations of both standards bodies as well as similarities amid them. The AICPA is an American based professional organization for certified accountants. The key objective is this institution is to provide sufficient resources, set professional and ethical standards to certified public accounting