training centre’s classroom, and a capacity for judgement that can only be acquired on the job. Additionally (and ironically), the more complex and technocratic accounting regulation becomes, the more pragmatically accountants must approach their work in order to get anything done.’Pragmatic accountants also argues that there needs to be a balance between being fair and allowing the business to operate without too many disruptions. Strategic pragmatism Technocratism and strategic pragmatism don’t always contradict each other. Especially in risk assessment, risk bridges the gap between technicality and pragmatic strategy by making strategy a technical matter. Niklas Luhmann states that‘The individualism of risk-calculating merchants, learning from experience, attentive to news, making decisions on the basis of a well-judged mix of trust and distrust…’This discussion extends to the technocratic project of making things quantifiable by calculating and evaluating the possibilities of probable consequences. Ethics in accounting The nature of accounting establishes a unique position of trust in relation to the clients, employers and general public, who count on accountants' professional judgment and advice in making financial/managerial decisions.'They have the responsibility to ensure that their duties are performed in conformity with the ethical values of honesty, integrity, objectivity, due care, confidentiality, and the commitment to the public interest before one’s own.' Theories of ethics Utilitarianism The doctrine that an action is right in so far as it promotes happiness, and that the greatest happiness of the greatest number should be the guiding principle of conduct.Jeremy Bentham, the founder of the idea, argues that the more happiness there are in the decision, the better decision it is. However, happiness is an unquantifiable concept. John Stuart Mill supported the idea of utilitarianism but he developed an idea into more detailed one. He believes that there exists a different levels of happiness. It is better to be a human being dissatisfied than a pig satisfied; better to be Socrates dissatisfied than a fool satisfied. And if the fool, or the pig, is of a different opinion, it is only because they only know their own side of the question. Theory of rights The theory of rights derives from the belief that people have certain rights as they are being born as human beings which must be respected. Hence, according to this theory, an ethical decision is one that considers the rights of others. On the other hand, a decision is unethical to the extent that it violates