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350.5 A professional accountant in business may be in a situation where theprofessional accountant in
business is expected, or is under other pressure,to offer inducements to influence the judgment
or decision-making processof an individual or organization, or obtain confidential information. 350.6 Such pressure may come from within the employing organization, forexample, from a
colleague or superior. It may also come from an externalindividual or organization suggesting
actions or business decisions thatwould be advantageous to the employing organization,
possibly influencingthe professional accountant in business improperly. 350.7 A professional accountant in business shall not offer an inducement toimproperly influence
professional judgment of a third party. 350.8 Where the pressure to offer an unethical inducement comes from within theemploying
organization, the professional accountant shall follow theprinciples and guidance regarding
ethical conflict resolution set out in PartA of this Code. DEFINITIONS
In this Code of Ethics for Professional Accountants, the following expressions havethe following
meanings assigned to them:
Acceptable level A level at which a reasonable and informed third party would belikely to conclude,
weighing all the specific facts andcircumstances available to the professional
accountant at thattime, that compliance with the fundamental principles is
notcompromised. Advertising The communication to the public of information as to theservices or skills provided
by professional accountants in publicpractice with a view to procuring professional
business.Assurance client The responsible party that is the person (or persons) who:
(a) In a direct reporting engagement, is responsible for thesubject matter; or
(b) In an assertion-based engagement, is responsible for thesubject matter
information and may be responsible forthe subject matter. Assurance
engagement An engagement in which a professional accountant in publicpractice expresses a
conclusion designed to enhance the degreeof confidence of the intended users o...
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This document was uploaded on 04/03/2014.
- Spring '14