Final answer:
The ethical responsibilities of an accountant include maintaining integrity, objectivity, and professional competence while recording and reporting financial transactions. An independent auditor, however, must ensure their independence and objectivity, providing assurance on the accuracy of financial statements, and maintaining professional behavior and confidentiality.
Step-by-step explanation:
Yes, there are differences between the ethical responsibilities of an accountant and an independent auditor. An accountant is typically responsible for accurately recording and reporting financial transactions for a company or an individual. They must ensure that the financial records are precise and follow the applicable accounting frameworks like Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS). Accountants have a responsibility to maintain integrity, objectivity, and professional competence in their work.
On the other hand, an independent auditor's ethical responsibility is to examine the financial statements prepared by the accountants to ensure their accuracy and compliance with the accounting standards. Auditors are expected to maintain independence from the entity they are auditing, and their main role is to provide assurance that financial statements are free of material misstatement, whether due to fraud or error. They adhere to ethical principles such as independence, objectivity, professional behavior, and confidentiality. Auditors must perform their work with skepticism to appropriately assess the financial statements.