Accounting is one of the professions that require outmost care. In many cases, accountants ensure that they execute their duties, as the work requires. Despite this, there are cases when accountant conduct themselves in ways that do not conform to their ethnic requirements. In a case, the Ultramares doctrine is used assess the liability of accountants. Based on this doctrine, accountants are liable to third parties when they do not exercise due care, and when they are aware that third parties will see their work or use them for other purpose (Beatty & Samuelson, 2006). Given the provision of this doctrine, I tend to differ with it concerning how accountants should be assessed when they err and fail take due care.
There is need for accounting professionals to use another tool to assess the liability of accountants. This is because the Ultramares doctrine does not provide sufficient measures that can motivate accountants to practice due care in their work. For instance, an accountant may failt to take precautions while executing his work and therefore end up committing a liability. In this case, one may feel comfortable that the client may not be aware of their work or use them in any way that might harm them. The flaw in the Ultramares doctrine calls for an efficient tool that will assess accountants in an efficient way.
In accounting profession, accountant should not base their ethical consideration on the Ultramares doctrine because of its shortcoming. First, the Ultramares doctrine will make accountants practice care when need be and not as a duty. This is against the ethical standards of professionals that put the interest of the client before that of the professional. In this case, accountants must be able to protect the client from any harm rather than ensure worry about him committing a liability. I believe that contemporary business does not favor the use of Ultramares Doctrine because of its influence on business operations.
- Beatty, J. F. & Samuelson, S. S. (2006) Business Law and the Legal Environment, Standard Edition. Ohio: Cengage Learning.