This essay will address two key areas, firstly, the aspect of rules and regulations acting in the public interest which I learned about in previous modules at the University of Sheffield and which I practiced during my internship. The second part will identify the relevant perspectives of this module which includes the current regulations used by the accounting profession, ethics and conceptual framework and critically evaluate my modified perception through MGT390. Past Experiences From my previous modules at the University of Sheffield such as Budgeting and Controlling, Auditing and Advance Financial Accounting, I understood that accounting standards were undoubtedly useful to the public. In addition to articles such as <> by Levitt (1998) which states that high quality accounting standards enable educated investors to have relevant and useful information and thus be able to make rational decisions. Thus, I was of the view that accounting standards constitute an objective element of financial reporting in that they enable retail investors, who generally lack the resources and ability to obtain information otherwise unavailable, to take informed decisions and also ensure that their investment in a business is validated. Similarly, from my personal professional experiences, I observed that my former colleagues were only concerned with compliance with corporate governance. Since I was an intern, that meant they were my mentors as such; the idea of ​​complying with the regulations set by the Institute of Singapore Chartered Accountants (ISCA) in Singapore and the regulations set within the company was increasingly strongly instilled in me. I thought that as long as I follow the regulations, I am serving the public interest...... middle of paper ...... and I am affected in some way by the differences between different religions, ethics, Gender and regulations may not be useful due to lack of consistency (e.g. Islamic accounting versus Western accounting as mentioned) and therefore the need for a conceptual framework. Similarly, education plays an important role in preventing further financial scandals by instilling professional ethics at university or through corporate training and development. Even if education is not capable of convincing naturally unethical participants, I believe that it is capable of encouraging the majority of them to reconsider their action or that of their superiors in order to bring a judgment for themselves on the subject of ethics. then able to refine and unify the systems used in the preparation of financial statements and thus help the public make sound investment decisions.