Revised Code of Ethics - Completed

Objective
Background

In June 2005, the IESBA (formerly the Ethics Committee) issued a revised Code of Ethics for Professional Accountants. The revised Code establishes a conceptual framework for all professional accountants to ensure compliance with the five fundamental principles of ethics:

Integrity.

      A professional accountant should be straightforward and honest in all professional and business relationships



Objectivity.

      A professional accountant should not allow bias, conflict of interest or undue influence of others.



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 services based on current developments in practice, legislation and techniques. A professional accountant should act diligently and in accordance with applicable technical and professional standards when providing professional services.



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 unless there is a legal or professional right or duty to disclose. Confidential information acquired as a result of professional and business relationships should not be used for the personal advantage of the professional accountant or third parties.



Professional Behavior.

      A professional accountant should comply with the relevant laws and regulations and should avoid any action that discredits the profession.



 

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