An Urgent Need of Ethical Education for Accountants and Auditors in India

Abstract  
Globalization leads to Social, political and technological changes have challenged traditional idea of professional practice by accountants and auditors. Ethics is a code or moral system provides criteria for evaluating right and wrong.The high standard of ethical behavior is expected from Professional like Accountants and Auditors. From two decades lot of Corporate scams noticed in India Bofors Scam, Enron scandal, World Com scam, Tyco scandal, Telgi Scam, The Hawala Scandal, Harshad Mehta &Ketan Parekh Stock Market Scam, Health south scandal, Freddie Mac scandal, American International Group scandal (AIG), Lehman brothers scandal, Bernie Madoff scandal, Satyam scandal, 2G Spectrum Scam, the UTI scam, C.R. Bhansali scam, Madhu Cora scam, Indian Coal Allocation Scam, Wakf Board Land Scam, Commonwealth Games Scam and The Fodder Scam appears that corporate accounting fraud is a major problem that is increasing both in its frequency and severity. The Primary cause of all frauds started from Accountants and Auditors as failure ofIt4fg corporate governance. Initially start out small with the perpetrator thinking that small changes here and there would not make a big difference but eventually growing in two million white Elephant in the room. In this context a need has been long felt to Study an Urgent need of Ethical Education for Auditors and Accountants in India to mitigate Corporate Scandals. For the purpose of study secondary data has been collected, processed and presented in the form of tables, figures and Interpreted accordingly.
Keywords: Ethics, Auditors, Accountants, Corporate Scams, Ethical Education. 

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