This paper sets forth a theory that accounting information can provide insights into the ethics of an organization. While the primary purpose of accounting information is to provide information on the economic activity of a firm, it is argued that the informational content of accounting measurements and disclosures includes ethical information regarding a corporation. A framework is developed decoding accounting information such that ethical information regarding a firm can be revealed. From the perspective of the overall economic system, ethical information from company financial reports may provide insights regarding overall economic system risk. The theory developed in this paper extends the information content of accounting information to non-financial information.