Ethical lessons for accountants

According to the Dictionary of Criminal Justice Data Terminology, white-collar crime is nonviolent crime for financial gain committed by means of deception by persons whose occupational status is entrepreneurial, professional, or semi-professional and utilizing their special occupational skills and opportunities. For decades, the legal system has been relatively easy on white-collar criminals. The recent increase in corporate malfeasance offers four constructive lessons of note for accountants and other financial professionals: 1. Honesty is the best policy. 2. The costs of dishonesty must exceed the benefits derived from dishonest behavior. 3. The 'good soldier' defense does not excuse wrongful behavior. 4. Those being pressured to do something unethical or illegal should follow specific guidelines.