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Unformatted text preview: ner manager, a volunteer or another working for one or more
employing organization. The legal form of the relationship with the employing organization, if
any, has no bearing on the ethical responsibilities incumbent on the professional accountant in
business. 300.4 A professional accountant in business has a responsibility to further the legitimate aims of the
accountant’s employing organization. This Code does not seek to hinder a professional
accountant in business from properly fulfilling that responsibility, but addresses circumstances
in which compliance with the fundamental principles may be compromised. 300.5 A professional accountant in business may hold a senior position within an organization. The
more senior the position, the greater will be the ability and opportunity to influence events,
practices and attitudes. A professional accountant in business is expected, therefore, to
encourage an ethics-based culture in an employing organization that emphasizes the importance
that senior management places on ethical behavior. 300.6 A professional accountant in business shall not knowingly engage in any business, occupation,
or activity that impairs or might impair integrity, objectivity or the good reputation of the
profession and as a result would be incompatible with the fundamental principles. 300.7 Compliance with the fundamental principles may potentially be threatened by a broad range of
circumstances and relationships. Threats fall into one or more of the following categories:
(d) Familiarity; and
235 These threats are discussed further in Part A of this Code.
300.8 Examples of circumstances that may create self-interest threats for a professional accountant in
• Holding a financial interest in, or receiving a loan or guarantee from the employing
organization. • Participating in incentive compensation arrangements offered by the employing
organization. • Inappropriate personal use of corporate assets. • Concern over employment security. • Commercial pressure from outside the em...
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- Spring '14