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Unformatted text preview: ssistance from someone with the necessary expertise. • Consulting, where appropriate, with:
o Independent experts; or o
330.4 Superiors within the employing organization; A relevant professional body. When threats cannot be eliminated or reduced to an acceptable level,professional accountants in
business shall determine whether to refuse toperform the duties in question. If the professional 119 accountant in businessdetermines that refusal is appropriate, the reasons for doing so shall
340.1 Professional accountants in business may have financial interests, or mayknow of financial
interests of immediate or close family members, that, incertain circumstances, may create
threats to compliance with thefundamental principles. For example, self-interest threats to
objectivity orconfidentiality may be created through the existence of the motive andopportunity
to manipulate price sensitive information in order to gainfinancially. Examples of
circumstances that may create self-interest threatsinclude situations where the professional
accountant in business or animmediate or close family member:
• • Is eligible for a profit related bonus and the value of that bonus couldbe directly affected by
decisions made by the professional accountantin business; • Holds, directly or indirectly, share options in the employingorganization, the value of
which could be directly affected bydecisions made by the professional accountant in
business; • Holds, directly or indirectly, share options in the employingorganization which are, or will
soon be, eligible for conversion; or • 340.2 Holds a direct or indirect financial interest in the employingorganization and the value of
that financial interest could be directlyaffected by decisions made by the professional
accountant inbusiness; May qualify for share options in the employing organization orperformance related bonuses
if certain targets are achieved. The significance of any threat shall be evaluated and safeguards appliedwhen...
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This document was uploaded on 04/03/2014.
- Spring '14