Ethics for Accountants


Chapter 1



Integrity – being straightforward and honest in performing professional duties

Objectivity – decisions should be made on true facts and accounts must not let their own bias, prejudice or pressure from others affect decisions that they make

Professional Behaviour – accounts should maintain the good reputation of the profession and should not have anything to discredit the profession

Professional Competence and Due Care – accounts have a duty to ensure that they have the necessary skills to carry out work that is assigned to them and that they always take sufficient care to ensure that the quality of their work meets the high standards expected of them

Confidentiality – information obtained during the course of professional work should not be disclosed without proper and specific authority or unless this is a legal duty to do so


Probity – the quality of having strong moral principles of honesty and decency

Transparency – operating in a way that is easy for others to see what is being done or said

Professional Ethics – the moral principles or standards that govern the conduct of the members of an organisation

Codes of Professional Ethics – documents issued by the accounting bodies providing guidance to full and student members regarding professional ethics

Conflict of Interest – these arise where the business or personal interests of an accountant may influence the accountant giving an objective opinion


Chapter 2


Self-interest – caused by a financial relationship between the accountant and a client or employee

Principles: Integrity, Objectivity, Professional Behaviour, Professional Competence and Due Care, Confidentiality

Self-review – caused by an accountant having to review or evaluate a previous judgement that he/she has made

Principles: Objectivity, Professional Behaviour, Professional Competence and Due Care

Familiarity – caused by a close family relation of close friend of the accountant being a


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