Analysis of Finance and Accounting Based Outsourcing: Researching the Ethical and Economic Dimensions of Accounting and Financial Outsourcing in UK

By

ACKNOWLEDGEMENT

I would like to take this chance for thanking my research facilitator, friends & family for support they provided & their belief in me as well as guidance they provided without which I would have never been able to do this research.

DECLARATION

I, (Your name), would like to declare that all contents included in this thesis/dissertation stand for my individual work without any aid, & this thesis/dissertation has not been submitted for any examination at academic as well as professional level previously. It is also representing my very own views & not essentially which are associated with university.

Signature:

Date:

ABSTRACT

Ethics and rules of professional conducts are the underlying topics that direct correct behaviours in each profession; especially, in the field of accounting and auditing, this research will make an effort to explore the theory and practise of ethics and professional responsibilities in accounting and auditing from a research perspective. In this study, researcher discusses the scope of financial outsourcing, motivations of an organization for financial outsourcing. Author also discusses the risks associated in financial outsourcing. This research is conducted using secondary data sources. Secondary data sources used in this research include articles, research publications and other similar sources available on the internet. The basic foundation of this research were based on literature review, findings were drawn by the review of literature. This research concluded that outsourcing of financing activities is an effective mechanism for transferring non-core functions of the company, including accounting processes and specific functions of accounting professional supplier of these services. The limitation of this research was that this research had not employed advanced statistical tools for making analysis of the data. The researcher had not applied any statistical tools for the purpose of data analysis and analyzed results through the results of these statistical tools.

Table of Contents

ACKNOWLEDGEMENT2

DECLARATION3

ABSTRACT4

CHAPTER 01: INTRODUCTION7

Background of Research7

Problem Statement9

Research Questions9

Rationale of the Study10

Outline of the Study10

CHAPTER 02: LITERATURE REVIEW12

Eight Motivations for Financial Outsourcing15

Risks in Financial Outsourcing16

Outsourcing and the Organizational Environment18

Transaction Cost Theory19

Institutional Theory20

Resources and Knowledge Theory22

Contingency Theory23

Basic Principles of Professional Ethics24

Ethics and Accounting Educators25

Impact of Goals on Ethical and Professional Standards29

Auditor Judgment and Ethical Standards30

Creative Accounting32

Conclusive Remarks on Chapter35

CHAPTER 03: RESEARCH METHODOLOGY36

Overview of Research Approaches36

Research Design37

Data Collection Methods37

Rationale for Qualitative Study38

CHAPTER 04: DISCUSSION39

Business Competiveness Accounting Outsourcing40

Accounting Outsourcing and Decision-making41

Ethical Dilemmas faced by Accountants42

Ethical Involvements in Accounting Profession45

Accounting Curriculum and Ethics Education47

Accountant focus on Theoretical Standards48

Ethical standards in the profession of Audit: Practise of auditors49

Professional Ethics in Accounting and Judgment50

Perception of Accountants and Auditors52

Ethical Standards for Accountancy54

Sociology of Accounting Organizations56

Dubious Part of Accounting58

CHAPTER 05: CONCLUSION60

Limitations of the Research61

Recommendations for Accountants61

Recommendations for Future Research62

REFERENCES63

CHAPTER 01: INTRODUCTION

Background of Research

The world is continuously undergoing change through diversifying products and services in a globalized scenario. In such circumstances, the world needs to go over the accounts at its own pace, seeking professional accounting experience. This means having the ability to understand, assimilate and apply new schemes quickly , using modern ...