THE ROLE OF ETHICAL PRACTICES IN ACCOUNTING: A REVIEW OF CORPORATE GOVERNANCE AND COMPLIANCE TRENDS

Abstract

This comprehensive review delves into the pivotal role of ethical practices in accounting, specifically focusing on corporate governance and compliance trends. Ethical considerations in accounting are not merely regulatory checkboxes but constitute the moral compass guiding financial professionals towards transparency, integrity, and accountability. The review provides a glimpse into the core themes explored in this review. The contemporary business landscape is marked by increased scrutiny of ethical practices within accounting frameworks. This review navigates the intricate interplay between ethical considerations, corporate governance structures, and compliance trends that collectively shape the ethical fabric of financial reporting. Examining corporate governance practices reveals their intrinsic link to ethical conduct in accounting. Effective governance structures serve as bulwarks against financial improprieties, fostering a culture of responsibility and ethical decision-making. The review scrutinizes evolving corporate governance models, their impact on financial transparency, and the role they play in mitigating risks associated with unethical accounting practices. Compliance trends, both globally and regionally, are explored to understand the ever-evolving regulatory landscape. Stringent compliance requirements act as safeguards, ensuring adherence to ethical standards. This review investigates how organizations navigate the complex web of regulatory frameworks, emphasizing the importance of proactive compliance measures in upholding ethical standards and fortifying the trust of stakeholders. Ethical considerations are not confined to regulatory frameworks; they permeate the organizational ethos, influencing decision-making at every level. The review delves into case studies and real-world examples to illustrate the tangible consequences of ethical lapses, emphasizing the need for a robust ethical foundation in accounting practices.  In conclusion, the review underscores the indispensable role of ethical practices in accounting, illuminating the symbiotic relationship between corporate governance, compliance trends, and ethical conduct. As businesses navigate an era of increased accountability, understanding and embracing ethical imperatives in accounting emerge not only as legal mandates but as essential components for sustaining trust, fostering transparency, and fortifying the integrity of financial reporting practices. Keywords:  Ethical Practices, Accounting, Corporate, Governance, Compliance.