Ethics are the backbone of any successful venture and when it comes to accounting the need of ethics become more crucial. As in financial issues the people are more concerned with the true performances of the company as they invest their hard earned money in the companies. Therefore accountants are expected to provide true and genuine information to the stakeholders so that they can take decisions regarding the future transactions with the company (Horngren, 2002). The accountants are responsible for ensuring that they perform their duties according to the code of ethics they are to be followed such as of integrity, objectivity, commitment and confidentiality etc. for the interest of the public and company before looking towards their own personal or individual interests. Accounts are expected to maintain high level ethical conduct even if it has to be maintained beyond the laws of the society.