Numbers have an astonishing ability to influence almost anybody; they can destroy and enrich the lives of people, businesses, and countries simultaneously. The importance of accountants to preserve accurate, fair and reliable information concerning people and businesses is crucial. In a continuously evolving business world in which corporations face tremendous competition, businesses are not only trying to make a profit, but also, to survive. The essence of human evolution has been based on survival; thus it is not surprising that businesses choose financial security over ethical behaviour. There is an increasing trend in maintaining and updating financial accounting standards in Canada and the United States. However, financial accounting will always be partially judgmental. The aggressive business world fuels competition and threatens prosperity, and thus accountants and auditors face the difficulty of balancing their responsibilities to their clients, their profession's ethical standards and their own self-interest. It is partially beneficial to implement stricter penalties and standards for those who abuse the system, but this strategy can not deter everyone, and thus in the end, accountants must make the choice to preserve the integrity of their own profession.
Financial security and prosperity represent aspects of survival and power for many humans, and sometimes are more important than acting responsibly for society. Many businesses drive to reach their financial goals by taking advantage of the accounting system. In competitive markets, corporations strategically attempt to distort their financial reports in order to entice stakeholders and increase their profits. Evolution has proven, although debatable, that those who are the most successful will survive. ...