This preview shows page 1. Sign up to view the full content.
Unformatted text preview: and truthfulness. 110.2 A professional accountant should not prepare, attest, certify or otherwise be
associated with reports, returns, communications or other information where the
professional accountant believes that the information:
(b) Contains statements or information furnished recklessly; or (c) 110.3 Contains a materially false or misleading statement; Omits or obscures information required to be included where such omission
or obscurity would be misleading. A professional accountant will not be considered to be in breach of paragraph
110.2 if the professional accountant provides a modified report in respect of a
matter contained in paragraph 110.2. 19 By-Laws (On Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants
[Issued January 2007] PART I: BY-LAWS ON PROFESSIONAL ETHICS Section 120 Objectivity Objectivity 120.1 The principle of objectivity imposes an obligation on all professional accountants
not to compromise their professional or business judgment because of bias,
conflict of interest or the undue influence of others. 120.2 A professional accountant may be exposed to situations that may impair
objectivity. It is impracticable to define and prescribe all such situations.
Relationships that bias or unduly influence the professional judgment of the
professional should be avoided. 20 By-Laws (On Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants
[Issued January 2007] PART I: BY-LAWS ON PROFESSIONAL ETHICS Section 130 Professional Competence and Due Care Professional Competence and Due Care 130.1 The principle of professional competence and due care imposes the following
obligations on professional accountants:
(a) (b) 130.2 To maintain professional knowledge and skill at the level required to
ensure that clients or employers receive competent professional service;
To act diligently in accordance with applicable technical and professional
standards when providing professional services. Competent professional service requires the exercise of sound judgment in
applying professional knowledge and skill in the performance of such service.
Professional competence may be divided into two separate phases:
(a) Attainment of professional competence; and (b) Maintenance of professional competence. 130.3 The maintenance of professional competence requires a continuing awareness
and an understanding of relevant technical professional and business
developments. Continuing professional education develops and maintains the
capabilities that enable a professional accountant to perform competently within
the professional environments. 130.4 Due care and diligence encompasses the responsibility to act in accordance with
the requirements of an assignment, carefully, thoroughly and on a timely basis. 130.5 A professional accountant should take steps to ensure that those working under
the professional accountant’s authority in a professional capacity have
appropriate training and supervision. 130.6 W...
View Full Document
- Fall '13