Talking Point #1: A Set of Rules? Or a Moral Code to Follow?

August 2002
Journal of Financial Planning;Aug2002, Vol. 15 Issue 8, p20
Academic Journal
This article discusses the implications of the prevalence of corrupt practices in the field of accounting in the U.S. on financial planning. Dick Wagner, a financial planner, thinks that the accounting scandal have much to do with an emerging profession's responsibility to the public to engage in deep thinking on ethics, integrity and professionalism. In an email posting to his fellow Nazrudin members, Wagner says he is reacting to the litany of legal and accounting news viscerally. Wagner stated that CFPs have the role of accountants in virtual fraud. In an equally thoughtful response, another Nazrudin member notes that many legal and accounting professionals look at codes and rules differently than CFPs. On the other hand, a poll conducted of 1,063 adults in the U.S. by Opinion Research Corp. International revealed that more U.S. citizens are afraid of debt and job loss than they are of terrorism. That is probably quite a sea change from two or three years ago, when much of the investing public were more afraid of not getting initial public offering shares.


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