Of professional ethics and professional conduct for

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Unformatted text preview: and professional conduct that are expected of the profession. 5. A breach of these By-Laws will prima facie give rise to a complaint of unprofessional conduct against the member concerned. As such, members who fail to observe proper standards of ethics and professional conduct as set out in these by-laws may be required to answer a complaint before the Investigation and the Disciplinary Committees of the Institute pursuant to 1 By-Laws (On Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants [Issued January 2007] FOREWORD the Malaysian Institute of Accountants (Disciplinary) Rules 2002 [P.U.(A) 229/2002]. 6. This Foreword and the Definitions set out in the next section, form part of these By-Laws and should be construed accordingly. Likewise, any additional guidance, explanatory notes or commentary which are included in these By-Laws to provide further guidance or to explain the intention and meaning of a certain paragraph or sub-paragraph of the By-Laws, also form part of these By-Laws and should be construed accordingly. However, the additional guidance, explanatory notes or commentary are not and cannot be all encompassing and it is for members to exercise their own judgment in applying the principles and the spirit of the By-Laws to the circumstances in which they find themselves at any given time. 7. Due compliance with the provisions in these By-Laws is the responsibility of each member as professional accountants. 8. The Council of the Institute may from time to time amend these By-Laws. It is the responsibility of members to update themselves and ensure that they understand, comprehend and implement the requirements in these ByLaws. 1 January 2007 NOTE: Whilst Part I of the By-Laws substantially incorporates the IFAC Code of Ethics, additions or deletions have been made to Part I and the Definitions section to ensure consistency with the Malaysian regulatory or legislative framework and to suit the Malaysian professional environment, or to incorporate additional provisions that were originally contained in the Institute’s By-Laws (On Professional Conduct and Ethics) [Revised 2002]. 2 By-Laws (On Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants [Issued January 2007] DEFINITIONS In these By-Laws, the following expressions have the following meanings assigned to them, unless the context clearly requires otherwise: (i) Act The Accountants Act 1967. (ii) advertising The communication to the public of information as to the services or skills provided by professional accountants in public practice with a view to procuring professional business. (iii) assurance client The responsible party that is the person (or persons) who: (a) In a direct reporting engagement, is responsible for the subject matter; or (b) In an assertion-based engagement, is responsible for the subject matter information and may be responsible for the subject matter. (For an assurance client that is a financial statement audit cli...
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This document was uploaded on 09/23/2013.

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