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Unformatted text preview: ice Review Fees 131 5. TRANSITIONAL PROVISIONS 133 6. EFFECTIVE DATE 134 vi By-Laws (On Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants [Issued January 2007] TABLE OF CONTENTS 7. APPENDICES I Additional Guidance on Confidentiality for Section 140 137 II Procedures for Seeking Professional Clearance for Section 210 138 III Additional Guidance on Clients’ Monies for Section 270 139 IV Transitional Provisions and Interpretation for Section 290 141 V Accredited structured and unstructured CPE learning activities for Section 410 150 VI Implementation of the CPE Requirements for Section 410 152 VII Statement on Practice Review for Section 550 154 vii By-Laws (On Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants [Issued January 2007] FOREWORD 1. These By-Laws are made by the Council of the Malaysian Institute of Accountants (the ‘Institute’) on 24 November 2006 pursuant to Section 10(a) of the Accountants Act 1967, and shall come into effect on 1 January 2007 unless otherwise stated herein. 2. These By-Laws may be cited collectively as the By-Laws (On Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants [issued January 2007] and revokes and supercedes the Institute’s existing By-Laws (On Professional Conduct and Ethics) [Revised January 2002] and other By-Laws that have been issued by the Council. However, such revocation shall not affect any investigation or disciplinary proceedings before the Investigation Committee or the Disciplinary Committee respectively in respect of any offences or breaches committed pursuant to the relevant By-Laws applicable at the time of the offence or breach. 3. The By-Laws (On Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants comprise of two main parts. Part I relates to the By-Laws on Professional Ethics which is substantially based on the Code of Ethics for Professional Accountants issued by the International Federation of Accountants (IFAC). The By-Laws on Professional Ethics establishes the ethical requirements and standards applicable to all members of the Institute as professional accountants. Part II of these By-Laws relates to the By-Laws on Professional Conduct and Practice which contain prescriptive obligations applicable to members or member firms (as defined herein) of the Institute in respect of their professional conduct or the practice of their firms. 4. The By-Laws (On Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants set the standards of professional ethics and professional conduct for members and member firms in view of the professional responsibilities and duties owed to their clients, employers, the authorities and the public. In recognising the significant role played by the accountancy profession in society, these By-Laws have been framed with the objective that members exhibit the highest standards of ethics, professionalism...
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