Ethical and economic implications for an accounting office that offers bundled services with a bank account

Abstract

Purpose: The profession of accountant as a profession of public trust is related to observing ethical and legal standards. In the course of his work, an accountant who offers his services on the market should consider the interests of the stakeholders of signed contracts, and due to the nature of his business, he should constantly improve his professional qualifications and guarantee independence. The aim of the article is to examine the ethical and economic effects of cooperation between an accounting office and a bank that bundles accounting services with a current account. Methodology/approach: The analysis focuses on the cooperation agreement between the accounting office and the bank as part of the current account services offered by the bank that come bundled with accounting. For the analysis, the following research methods were used: analysis of the scientific literature in the field of accounting and economics, case study considered in the context of Freeman, and methods of deduction and synthesis. Findings: Based on the analyzed agreement, a significant inequality was found between the benefits and obligations of individual signatories. Attention is also paid to the implica-tions of signing an agreement of this type for other market participants. Originality/value: The article is part of a scientific and practical discussion on the ethical and economic risks associated with signing a cooperation agreement between an account-ing office and a financial market institution in the form proposed by the bank. Keywords: outsourcing, stakeholder theory, ethics in accounting, bookkeeping services, accounting offices