Before knowing the importance of ethics in accounting profession we have to know about what ethics is.The Merriam-Webster dictionary defines ethics as the discipline dealing with what is good and bad and with moral duty and obligation(Merriam Webstar 2013).Basically,ethics means doing what is right.  

Ethics has an impotant role in accounting profession.It is where the judgement of being professional belongs.It is whether the act of one accountant is right or wrong,ethical or unethical.Researchers know that the decision making of accountant's ,especially  in the field of auditiny,should not just be based on personal judgment .There is a standard that must be followed in performing an analysis of finalcial statements.Now i am talking about five reasons why you should keep things and follow business ethics in accounting.   
 
1.You're dealing with sensitive information:    As a business owner, you deal with sensitive information on the daily. When it comes to your business books, you need to handle your business bank account information, transaction totals, and other financial data.Use your head when you deal with sensitive employee and business information. Follow best practices to ensure you’re as ethical as possible when you’re managing confidential accounting information.

2.Your mistakes are on you:

When you make accounting mistakes or act unethically because you’re not competent in accounting, it’s on you.

If you don’t keep up with accounting ethics and stay up-to-date with accounting rules, you’re bound to make a blunder at some point or another.

3.You're seen as a professional:

Part of being ethical in accounting is following certain accounting rules and laws, such as the GAAP (generally accepted accounting principles) set by the Financial Accounting Standards Board. However, keep in mind that not all businesses are legally required to follow GAAP.

So,if you want to be seen as a professional.Follow accounting regulations to avoid any penalties or negative outcomes just like any other accounting professional would.

4.you're at less risk for legal trouble:

When you’re not compliant with accounting rules, you’re bound to get into some legal trouble. It may start off with a few unethical accounting practices here or there, but it can ripple into major problems.

If you don’t follow accounting ethics, you’re asking yourself for trouble. To avoid any legal problems in the future, familiarize yourself with ethics and accounting. And, understand what kind of unethical accounting practices put your small business at risk.

5.Your business is counting on you:

As you can tell by now, there are numerous reasons why ethics are essential in accounting. However, the most important reason of all is this: your business is counting on you to be ethical.

Just like how your customers and employees expect you to be ethical in your day-to-day business operations, your business depends on it, too.