The definition of ethics is very broad and there is no universal consensus, but in a general sense ethics is defined as the systematic study of conduct based on moral principles, reflective choices, and standards of right and wrong conduct (Wheelwright, 1959). Ethics has an important role in accounting profession. It is where the judgment 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 accountants, especially in the field of auditing, should not just be based on personal judgment. There is a standard that must be followed in performing an analysis of financial statements. Accounting profession is not easy in the world of corporate industry. Since auditors are continuously facing different challenges, their ethical decision will be tested. The guides in ethical decision making of accountants are the ethical principle and values where it provides direction to the right decision. As an example, an external auditor needs to present the financial reports of the company; the external auditor must ensure that their tasks are performed in an ethical standard. If the external auditor unethically performs his/her task, they will lose the confidence of their clients to their services. One purpose of this research is for the researchers to be aware about the things that are happening in the public accounting industry in the Philippines. Since there are ethical issues that