Ethics is one of the most important concept applied in each and every kind of field . Each field has code of ethics which the organization has to follow. Fields are such as Accounting, Information technology, Criminology, Counselling and Psychotherapy. Code of ethics means principles and guidelines laid down by the professional bodies of the organization so that organization is free from committing fraud in each and every kind of scenario. These code of ethics help each and every kind of member from committing frauds so that there will be no chances of violation in the members careers because if they dont follow these guidelines there licence can be cancelled. According to A.C Grayling, 2009, In its ordinary general use it denotes the principles and attitudes which regulate the behaviour of individuals, groups or corporate bodies, the aim being to identify what they ought to do, in the sense of identifying what is the right or good thing for them to do. As a branch of philosophy, it is the study of concepts such as good, right, evil, wrong, moral obligation, duty, and of the kinds of reasoning (often called practical reasoning) used in working out what one should do in given circumstances, and more generally how one should live.(Grayling pp 123). This report is about Cardinal virtues and how these cardinal virtues are illustrated within the code of Accounting standards which is APES 110.Virtue means to live and act well. Virtues are relevant to what we are doing and putting these virtues into practice. Virtue from Latin word is now considered to be a meaning of great source of excellence and threat. Virtue provides power and accomplishment and they are respective to different task , better tools prevail for certain tasks as greater tools guide to excellence and achievement .Further virtues need to be constant and essential in a thing that includes accounting work, for example, when a thing has all the virtues which are needed to carry out a particular task which we might call it a good thing of that king, such a Knife which is sharp, well made, graspable and that perform accordance within its requirement is an excellent knife; financial reports that provide substantial information to readers are a good source for report purpose. The cardinal virtue relies on four principles. They are Prudence which is wisdom, justice , courage, and self mastery. First comes the principle of wisdom, According to Cheffers.M and Pakaluk.M,2007, there are two types of wisdom which are applied in APES 110, they are Speculative wisdom and Practical wisdom. Specualtive wisdom means that a human being involved in a systematic understanding of funadamental facts. The similarity of speculative wisdom in an accountant is to have technical knowledge, competence and skill to carry out his particular task in a most effective manner, an accountant must have a good concept regarding the principles of accounting as well as knowledge regarding the business he is going to audit, for example a person going for auditing must be professional must have technical knowledge regarding that accounting field so that he can be able to find that company is following the accounting standard and there is no violation in the principles of accounting and he can be able to display the report with the concept of true and fair accounts. Then comes the concept of practical wisdom which means that human beings are involed in having a good knowledge of what things are more important than others(Cheffers.M,2007) and what things are better then worse(Cheffers.M,2007) ; and which consideration are primary in human life and which are secondary(Cheffers.M,20007). In this scenario the auditor is responsible to help the clients in achieving goals . and they become the main administrator for the clients and they are require to perform their task in true and effective manner. Then comes the principle of justice which means performing duty in a truly and fairly manner. The similarity to the virtue of justice in an accountant could be his practical and lively appreciation of the main duties that pertain to him in virtue of his being an accountant(Cheffers.M,2007). This would require his identification of: his task to serve the public interest,his task of judegement and confidentialy in relation to his client and the task that he has, to the profession, of upholding the biggest standard of the profession and securing the good status of the profession(Cheffers.M,2007). Another Principle is courage which is also known as due diligence. According to Cheffers.M, 2007, Due diligence means taking the pains necessary to find out something that you recognize that you do not know yet know, but that you need to know in order to act as you should .(Cheffers,PP 80). The last but not the least principle is self mastery. The similarity of self mastery in an accountant is opposition to greed and other forms of self interest

According to APES 110 which is the code of professional conduct there are principles which are due diligence, integrity, objectivity and independence which are binded over an accountant as a professional and he has to follow these principles in order to maintain his profession as an accountant . First comes the section 100 which is fundamental principles. In this section the principle of justice can be demonstrated because this section states that it is the responsibility of the member to act in the public interest which is related to the example of cardinal virtue principle justice . Section 110 deals with the integrity which means to be honest and straightforward in all business relationships. In this section we can see the principle of wisdom of cardinal virtue. section