Choo, L. C., Ethical Issues and Practising Accountants' Perceptions of the Code of Ethics: Some Malaysian Evidence, School of Accounting & Finance, University of Wollongong, Working Paper 36, 1992.
This study attempted to provide some empirical evidence of the ethical issues and conflicts faced by practitioners and to gauge their perceptions on the relevance and usefulness of the Malaysian Institute of Accountants (MIA) Code of Ethics as a guide to ethical behaviour. The results showed that a majority of respondents agreed that the Code helped them to be more aware of ethical concerns in their work and decisions, and that it also enhanced public confidence and professional image besides improving intraprofessional relationships. No significant relationship was seen by respondents between the Code and a firm's competitive position. Rules on advertising and fees were singled out particularly by respondents from the big firms as restricting the growth and development of the profession and thus should be amended. Respondents especially those from the small firms frequently faced ethical conflicts regarding clients' wishes to circumvent the Income Tax Act 1967 and clients' proposals for changes in financial statements. On these ethical issues and conflicts, the code was found to be not very relevant and useful as a guide to ethical behaviour. Overall, these results suggest that the accounting profession might wish to review its Code of Ethical Conduct on these issues.