Commitment to professional ethical conduct in accounting is expected and at times legally enforceable. Businesses are expected to live up to these commitments in their accounting practices. When companies release their financial reports it is important that they are in compliance with all legal regulations while ensuring that they also provide accurate numbers. There are certain government agencies in place to make sure these regulations are followed like FASB, SEC, and PCAOB. FASB, SEC, and PCAOB Companies might be interested in only expanding and making a monetary gain. However, businesses have an ethical and legal standard to contribute to the benefit of society. As people co-exist in society their actions should be acceptable to the public. Companies are the same way; they too have an ethical obligation to the public. Some companies are satisfied with choosing to make less of a profit margin from an ethical standpoint, while others may choose to be more profitable unethically. Controls have been put in place to make sure that companies are following the law and conducting ......

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