Code of Ethics - Summary 1

07/02/2020
Simplified Ethical Framework – Sniff Test
Enhancing Developing
Ethics Ethical
Knowledge Sensitivity
Ethics
Education
Continuum
(IAESB, 2014)
Maintaining
Improving
Commitment
Ethical
to Ethical
Judgment
Behavior
This presentation is solely for educational purposes. This is not a substitute for professional opinion. No parts of this presentation may be replicated
and/or distributed without written consent of the facilitator.
50
Code of Ethics for Professional Accountants
“Society has high expectations of

the accountancy profession. It is
essential for professional accountants
to accept and observe ethical
principles regulating all their
relationships.”
(IAESB, 2014)
This presentation is solely for educational purposes. This is not a substitute for professional opinion.
No parts of this presentation may be replicated and/or distributed without written consent of the
facilitator.
51
Key
CodeFeatures
of Ethics for Professional
Accountants
Three Parts
Use of Framework
Integrity-Based
facilitator.
52
1
07/02/2020
Key
CodeFeatures
of Ethics for Professional
Accountants
Part A Part B Part C

Fundamental Professional Conflicts of
Principles; Appointment to Interest to
Framework Independence Inducements
All Public Accountants

Accountants Practice In Business
facilitator.
53
Framework
Code of Ethics for Professional
Accountants
Comply with
fundamental principles.
Identify threats to
compliance; assess
significance.
Apply safeguards, if
any.
This presentation is solely for educational purposes. This is not a substitute for professional opinion. No parts of this presentation
may be replicated and/or distributed without written consent of the facilitator.
54
Integrity
Code of Based
Ethics Code of Ethics
for Professional
Accountants
More integrity than
compliance based
Act on principles
Judgment withstands
pressures
facilitator.
55
2
07/02/2020
Part
CodeA of
of Ethics
the Code
forofProfessional
Ethics
Accountants
Fundamental Principles
Threats
Safeguards
facilitator.
56
Accountants
Integrity
To be straight forward and
honest in all professional
and business relationships
facilitator.
57
Accountants
Objectivity
To not allow bias,
conflict of interest or
undue influence of others
to override professional or
business judgments
facilitator.
58
3
07/02/2020
Accountants
Professional Competence
and Due Care
To maintain professional knowledge and
skill at the level required to ensure
competent professional services based on
current developments in practice,
legislation and techniques
To act diligently in accordance with
applicable technical and professional
standards
This presentation is solely for educational purposes. This is not a substitute for professional opinion. No parts of this
presentation may be replicated and/or distributed without written consent of the facilitator.
59
Accountants
Confidentiality
To refrain from disclosing confidential
information acquired as a result of professional
and business relationships without proper and
specific authority to disclose unless there is a legal
or professional right or duty to disclose
To refrain from using confidential information
acquired as a result of professional and business
relationships for personal advantage or the
advantage of third parties
facilitator.
60
Accountants
Professional Behavior
Obligation to comply with
relevant laws and
regulations and avoid any
action that discredits the
profession
facilitator.
61
4
07/02/2020
Threats
Accountants
Self-interest Threat
Financial or other interest
threat
May inappropriately
influence judgment/behavior
facilitator.
62
Threats
Accountants
Self-review Threat
Inappropriate evaluation of
previous judgment made
On which accountant will rely
when forming (new)
judgment
facilitator.
63
Threats
Accountants
Advocacy Threat
Promotion of
client’s/employer’s
position
Results to compromise of
accountants judgment
facilitator.
64
5
07/02/2020
Threats
Accountants
Familiarity Threat
Long and close association
with client
Accountant becomes too
sympathetic or too
accepting
facilitator.
65
Threats
Accountants
Intimidation Threat
Accountant is deterred from
acting objectively
Due to actual and perceived
pressures
facilitator.
66
Safeguards
Accountants
Safeguard created
Safeguard in the
by prof., legis., and
work environment
regulation
Education and In parts B and C of
Training the code of ethics.
Experience
Continuing Prof. Dev.
Professional standards
Corp. Gov. regulations
External review
facilitator.
67
6
07/02/2020
Multiple
Code ofInterests
Ethics for Professional
Accountants
Conflicts of Interests
Ethical Conflicts of
Interests
facilitator.
68
Part
CodeB of
of Ethics
the Code
for of Ethics
Professional
Accountants
Professional Appointment
Conflicts of Interest
Second Opinions
facilitator.
69
Part
CodeB of
of Ethics
the Code
for of Ethics
Professional
Accountants
Fees and Remuneration
Marketing Professional
Services
Gifts and Hospitality

facilitator.
70
7
07/02/2020
Part
CodeB of
of Ethics
the Code
for of Ethics
Professional
Accountants
Custody of Client Assets
Independence
Audit and Review
Independence
Other Assurance
facilitator.
71

Code of Ethics - Summary 1

Hochgeladen von

Dokumentinformationen

Originaltitel

Copyright

Verfügbare Formate

Dieses Dokument teilen

Dokument teilen oder einbetten

Freigabeoptionen

Stufen Sie dieses Dokument als nützlich ein?

Sind diese Inhalte unangemessen?

Copyright:

Verfügbare Formate

Code of Ethics - Summary 1

Hochgeladen von

Copyright:

Verfügbare Formate

07/02/2020

Simplified Ethical Framework – Sniff Test

Code of Ethics for Professional Accountants

“Society has high expectations of

Part A Part B Part C

All Public Accountants

Gifts and Hospitality

Das könnte Ihnen auch gefallen