Instilling a Soul into an Organization: The Role of the Accountant

American Society for Business and Behavioral Sciences 14th Annual Conference, Las Vegas, Nevada, February 2007

16 Pages Posted: 11 Apr 2014

See all articles by Frimette Kass

Frimette Kass

Brooklyn College; Journal of the CPA Practitioner

Hershey H. Friedman

City University of New York - Department of Business Management

Date Written: February 22, 2007

Abstract

There have been so many financial scandals in the last two decades that people do not trust big business. Firms and CEOs are seen as heartless and without a soul. The accounting profession, unfortunately, has been seen as part of the problem, not the solution. The authors feel that accountants should be at the forefront of those trying to inculcate values into a company. This article provides accountants with ideas on how to do this. Most are not only costless but actually help a firm. The benefits they provide are for the long term and assure growth and success for a firm and include a positive image, satisfied customers, happy and productive employees, high market share, and, probably, increased profits. Companies that are only concerned with “maximizing shareholder wealth” or “maximizing profit” will find themselves going the way Enron went.

Keywords: corporate social responsibility, business ethics, mission statement, maximization of shareholder wealth

JEL Classification: A22, A23, D81, G18, G21, I20, L20, L21, M14, M19, M31, Q20, Q38

Suggested Citation

Kass, Frimette and Friedman, Hershey H., Instilling a Soul into an Organization: The Role of the Accountant (February 22, 2007). American Society for Business and Behavioral Sciences 14th Annual Conference, Las Vegas, Nevada, February 2007. Available at SSRN: https://ssrn.com/abstract=2423163

Frimette Kass

Brooklyn College ( email )

2900 Bedford Avenue
Brooklyn, NY 11210
United States

Journal of the CPA Practitioner ( email )

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United States

HOME PAGE: http://www.nccpap.org

Hershey H. Friedman (Contact Author)

City University of New York - Department of Business Management ( email )

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