Professional Documents
Culture Documents
Code of Ethics For Accountants
Code of Ethics For Accountants
Professional
Accountants
WHAT ARE ETHICS ?
Continuation…
Integrity The principle of integrity imposes an obligation
on all professional accountants to be straightforward and
honest in performing professional services. It also implies
fair dealing and truthfulness.
Continuation…
Professional Competence and Due Care: A professional
accountant has a continuing duty to maintain professional
knowledge and skill at the level required to ensure that a
client or employer receives competent professional service
based on current developments in practice, legislation and
techniques.
Continuation…
Confidentiality: A professional accountant should respect
the confidentiality of information acquired as a result of
professional and business relationships and should not
disclose any such information to third parties without
proper and specific authority.
Continuation…
Self-Interest Threat
A Self-interest threat occurs as a result of the financial or
other interests of a professional accountant or of an
immediate or close family member;
Self Interest Threats Circumstances
Examples of circumstances:
Being threatened with dismissal or replacement in
relation to a client engagement.
Being threatened with litigation.
Being pressured to reduce inappropriately the extent of
work performed in order to reduce fees.
Safeguards
Safeguards that may eliminate or reduce such threats to an
acceptable level fall into three broad categories:
Bookkeeping Services
Valuation services
Management decision making functions
Broker-dealer or investment advisor services
Litigation support
Financial involvement with a client