Every profession faces numerous ethical challenges on a daily basis and this can be clearly witnessed in the accounting profession. The main objective of this literature review is to discuss the ethical values ​​present in this profession and also explore the ethical challenges they face. Professional ethics for accountants is about ensuring that accountants carry out their duties to the highest possible standards and in a very professional manner. A code of ethics is designed to ensure that ideal behavior is implemented and must be applicable and realistic. From reading a variety of literature the fundamental principles of the code of ethics are as follows: integrity, objectivity, professional competence and due diligence, confidentiality and professional behavior. While there are numerous ethical challenges that may arise when professionals comply with the code of ethics, this review will focus on some of the main ones. IFAC has established the five fundamental principles for achieving common understanding. Firstly there is integrity, this principle exists to ensure that all accountants are truthful and honest at all times. Then there is objectivity, this is where the accountant must always remain impartial while carrying out their duties, this will then result in a fair and correct result in relation to their accounts. Then there is the principle of professional competence and due diligence, this is where the accountant must carry out their work to the highest possible standards and in a very professional manner to avoid possible errors and therefore lead to future problems. We then maintain confidentiality to ensure accountants are aware of...... half of the document ......: The view from above. Journal of Business Ethics [Online], 7(8), pp. 605-615 Available from: http://link.springer.com/article/10.1007/BF00382793 [Accessed 27 April 2014] Taylor, E. and Curtis, M. 2010. An examination of the layers of influences in place of work in ethical judgments: likelihood of reporting and persistence in public accounting. Journal of Business Ethics [Online], 93(1), pp. 21-37 Available from: http://link.springer.com/article/10.1007/s10551-009-0179-9 [Accessed 29 April 2014]Websites IFAC 2006. Code of Ethics for Accountants [Online]. Available from: https://www.ifac.org/sites/default/files/publications/files/ifac-code-of-ethics-for.pdf [Accessed 22 April 2014] Business Dictionary 2014. Conflict of interest [ Online]. Available from: http://www.businessdictionary.com/definition/conflitto-di-interest.html [Accessed 27 April 2014].