Final answer:
The Bystander Effect hinders the ethical standard of professional accounting by leading to a diffusion of responsibility, which reduces the likelihood that individuals will intervene in cases of unethical behavior.
Step-by-step explanation:
The Bystander Effect can significantly influence the ethical standard of professional accounting by creating a diffusion of responsibility among accountants. This psychological phenomenon occurs when individuals in a group are less likely to take action or intervene in an emergency or situation where a violation of standards or unethical behavior is observed. Applied to accounting, if multiple accountants witness a colleague engaging in unethical practices, they may feel less personal responsibility to address the issue, believing that someone else will step in. As a result, the Bystander Effect hinders ethical decision-making because it discourages individuals from taking independent action against unethical behavior due to the perceived shared responsibility among the group.