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• Relevant guidance
ISA/VSA 200 Overall objectives of the independent auditor and the
conduct of an audit in accordance with ISAs
International Ethics Standards Boards for Accountants (IESBA) – Codes
of Ethics for Professional Accountants
Law on Independent Audit No 67/2011/QH12

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1. THE CHARACTERISTICS OF AUDITING PROFESSION

•Responsibility for society

profession •Professional competence
•Practice criteria
•Maintain public’s confidence

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THE CHARACTERISTICS OF AUDITING
PROFESSION

•Requirements of Public
AUDITING STANDARDS
•Requirements of Government
CODES OF ETHICS
•Requirements of Professional
bodies AUDITORS’
RESPONSIBILITIES

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2. AUDITING STANDARDS

 A quality control tool.

 Auditing standards setters
 Professional bodies
 Goverment
 The roles of auditing standards
 To users
 To auditors
 To public

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 3. CODES OF ETHICS
A code of ethics is a formal and systematic statement of
rules, principles, regulations or laws, developed by a
community to promote its wellbeing and to exclude or
punish any undermining behavior.
The ethical rules of the accounting bodies endeavor to
promote standards of competence, proficiency and
personal moral integrity in their members in order to
serve the public interest .

Maintain and promote

the profession’s
reputation
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International Ethics Standards
Board for Accountants
• The IESBA Code of Ethics require accountants to
adhere to five fundamental principles:
– Integrity
– Objectivity
– Professional Competence and Due Care
– Confidentiality
– Professional Behavior
Vietnamese Codes of professional ethics for Professional Accountants

Issued under Decision 70/2015 / QD-BTC of the Ministry of

Finance, applicable to all practicing accountants, auditors
It consists of three main parts:

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Principles of Professional Ethics for a CPA in Vietnam

1. Independence
2. Integrity
3. Objectivity
4. Professional competence and due care
5. Confidentiality
6. Professional behavior

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Principles of Professional Ethics for a CPA

1. Independence: independence in fact and in

appearance

2. Integrity: straightforward and honest

3. Objectivity: avoid bias, conflict of interest,

undue influence

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Auditor Independence
• Independence is the cornerstone of auditing
profession
• Auditors must be independent
– in fact—objective and unbiased in their actions and
– in appearance—perceived by knowledgeable users of
financial statements as independent
Principles of Professional Ethics for a CPA

4. Professional competence and due care:

maintain professional knowledge and skill and
act with diligently
5. Confidentiality: should not disclose info unless
a legal or professional right and duty
6. Professional behavior: comply with the law
and avoid any action which discredits the
profession

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 Thanks for
your listening

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