Ethics Reflection

The Government Finance Officers Association (GFOA) and Association of Government Accountants (AGA) Ethics Code

The Government Finance Officers Association (GFOA) and Association of Government Accountants (AGA) ethics code document has the responsibilities and rules of the professionals in financial field and accounting field. In more details, the code of ethics documents determines the employees in the United States and Canada as it is witnessed in the Government Finance Officers Association ethics code. These two papers differ one from another as they do not mention one and the same profession but their purpose is similar. These two documents are aiming to ensure the accountants’ conduct and financial analysts is in line with their professionalism ethics. So, it sets a few regulations and rules that make sure that all employees of the government focus on the same target and are not swayed by factors like personal interests or poor working relationships. Thus, this paper looks at what is contained in the two codes of conducts, what needs to be added or removed, and the differences in the documents.

The Association of Government Accountants (AGA)

The Association of Government Accountants (AGA) contains three parts. The role of public interest in AGA is to state the objectives, principles, enforcement, and personal conduct of the employees. The first principle of the AGA is on the integrity of the accountants. Accountants must be honest and straightforward in their professional services to realize the vision and mission of the organization. Secondly, an accountant must have an objective that is free of conflict of interests, bias, and prejudice to avoid making the wrong decisions. Additionally, an accountant is also a role model for the junior staff members and his or her colleagues in business. Due care and professional competence of an accountant gives them to perform their work with skills and diligence efficiently and effectively as required by the law. Lastly, the auditors must observe confidentiality of the information they gather from their customers.

Confidentiality

Many customers are open to professional accountants by telling them confidential information that they don’t want to be released to third parties. Therefore, the AGA code of conduct stipulates that it is punishable for any of their members to make confidential information public without the consent of the customer. The professional behavior of the AGA states that its members must obey the law, protect confidential information, adhere to rules, and render explanations, opinions, conclusions, and observations professionally. The role of the public interest is to keep the accountants checked to avoid any misappropriation of the funds. Thus, the AGA code of conduct dictates that the members but build confidence with the people. On objectives, the AGA ensures that the accountant’s work is credible, professional, and it instills confidence to the public and other employees. A failure to comply with the requirement of the AGA code of conduct calls for several punishments that are stated under the enforcement of the laws. Thus, the AGA code of ethics revolves on the behavior of the accountants.

The Government Finance Officers Association (GFOA)

The Government Finance Officers Association (GFOA) code of professional ethics’ format is different from that of the AGA. The GFOA code of ethics looks at the personal standards, the responsibility of officials, career development, conflict of interests, and how to observe the integrity of finance professionals. Therefore, unlike the AGA that revolves around the conduct of its officials, the GFOA looks at the different stages of relationship and behavior of the financial analysts. More so, the GFOA code of professional ethics states the rules and regulations that a finance officer should keep ensuring the rules are followed without fail. Therefore, apart from saying the personal standards of the financial analysts the code of conduct also gives the guidelines on how to achieve the recommendations. For example, on professional and integrity of information, there are four rules. The first rule cautions officials that they should not subscribe to, sign, or issue any statement that omits some information knowingly. Thus, the article understands that a person can make a mistake unknowingly. Another point is that the professions should be cautious in dealing with the media and public while at work or home since they carry the image of a government employee that should be protected.

Differences between AGA and GFOA Codes of Ethics

Thus, there are clear differences between the AGA and GFOA professional code of ethics. The GFOA provides ways in which an employee can act professionally and also realizes that they can make mistakes unintentionally. On the other hand, the AGA looks at the general conduct of the accountants without detailing how the professionals should achieve those goals. Although the codes are different, they all aim at making sure the professionals in accounting and finance remain objective and carry out their work with integrity.

Preference for the GFOA Code of Ethics

Given a choice between the AGA and GFOA professional code of ethics I would choose the latter. The GFOA is more detailed on specific things that a professional should do to avoid making mistakes at places of work. An example is given on what finance officers from USA and Canada should do to ensure integrity in their careers.

Recommended Addition to AGA Code of Ethics

The AGA code of ethics needs to be added rules that guide the professionals on how to realize specific objectives. On the other hand, I would recommend for the addition of enforcement that can be used to professionals who fail to meet certain standards under the Government Finance Officers Association (GFOA).