Advice for a Successful Career in the Accounting Profession by Jerry Maginnis

Author:Jerry Maginnis [Maginnis, Jerry]
Language: eng
Format: epub
ISBN: 9781119855293
Publisher: Wiley
Published: 2021-10-12T00:00:00+00:00

Obtaining and maintaining technical knowledge and expertise is essential, but the fashion in which you use your skills may be even more important to your long‐term success. Applying “due professional care” is critically important. The concept is defined as follows:

“Every person who offers his or her services to another and is employed assumes the duty to exercise in the employment such skill as he or she possesses with reasonable care and diligence. In all of these employments where peculiar skill is requisite, if one offers their services, they are understood as holding themselves out to the public as holding the degree of skill commonly possessed by others in the same employment, and if his pretensions are unfounded, he commits a species of fraud upon everyone who employs him in reliance on his public profession. But no person, whether skilled or unskilled, undertakes that the task they assume shall be performed successfully, and without fault or error; he undertakes for good faith and integrity, but not for infallibility, and he is liable to his employer for negligence, bad faith or dishonesty but not for losses consequent on pure errors of judgment.”26

In other words, as professionals we have a responsibility to only take on tasks we are qualified to perform and to do our best to do the finest job we can under the circumstances!

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