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company. In early 1999 to May 2002, the company had used a false accounting method to make an illusion of financial growth and profitability to raise the price of WorldCom's stock whilst the company's financial condition was actually declining. The company's estimated total assets had been inflated by $11 billions. Arthur Andersen was also the external auditors for WorldCom during the fraud. Again, do these accountants practice a high standard of ethical behavior?

Ethical behavior of accountants is certainly important and has a lot of roles besides preventing corporate fraud that happened in both companies mentioned above. Investors might loose their investment if the accountants provide them with inadequate information for example the profit's figure. Having good ethical behavior can give good reputation to the accountants and also to the profession as a whole. The investors, public and regulators will have confidence on the profession which works on the highest standards of ethics and professionalism. However, the investors can never ever rely totally on the ethical behavior of accountants. In order not to loose their investment, they might as well check the reputation of the accountants and also the external auditors of the company he or she wants to invest. Investors certainly don't want to invest in company that is audited by Arthur Andersen since its accounting fraud cases. The investors might as well need to have a basic accounting knowledge as after all, it is worth it not to loose a cent of your investment. The investors might also get an advice from the experts before making any decision of investment in any company. This may help the investors to make a good decision. After all, investing money in companies involve a lot of risks. It's like gambling your own money. The accounting scandal or fraud of a company may be one of the risks.

It is undeniably true that the accountants help to organize the financial report of the business. Practicing ethical behavior to the fullest amongst accountants may maintain it's significant in business world.

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