Assignment 2-1 Codes of Professional Conduct

Assignment 2-1 Codes of Professional Conduct - public...

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Assignment 2-1 Codes of Professional Conduct 19-4. What are the two major sections of the code of professional conduct? 1.) Principles of Professional Conduct (setting forth ideal attitudes and behaviors ). 2.) Rules of Conduct (defining minimum standards). What additional guidance is provided for applying the rules of conduct? Interpretations of Rule of Conduct Rulings by the Professional Ethics Executive Committee (PEEC). These provide guidelines as to the scope and application of the rules of conduct. Unlike the rules of conduct, interpretations and ethics rulings are not specifically enforceable, but an auditor who may not follow them will have the burden of justifying his actions. 19-4. Describe the six Principles of Professional Conduct. 1.) Responsibilities: In carrying out their responsibilities as professionals, members should exercise sensitive professional and moral judgments in all their activities. 2.) The public interest: Members should accept the obligation to act in a way that will serve the
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Unformatted text preview: public interest, honor the public trust, and demonstrate commitment to professionalism. 3.) Integrity: To maintain and broaden public confidence, members should perform all professional responsibilities with the highest sense of integrity. 4.) Objectivity and independence: A member should maintain objectivity and be free of conflicts of interest in discharging professional responsibilities. A member in public practice should be independent in fact and appearance when providing auditing and other attestation services. 5.) Due care: A member should observe the profession's technical and ethical standards, strive continually to improve competence and the quality of services, and discharge professional responsibility to the best of the member's ability. 6.) Scope and nature of services: A member in public practice should observe the Principles of the Code of Professional Conduct in determining the scope and nature of services to be provided....
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