Revised Code of Ethics in the Phils - 2010

However if a member body or firm is prohibited from

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Unformatted text preview: .............................. Acting with Sufficient Expertise ......................................................................................... Financial Interests ............................................................................................................... Inducements ........................................................................................................................ 130 133 135 137 138 140 DEFINITIONS ............................................................................................................................... 142 EFFECTIVE DATE ...................................................................................................................... 149 136 PREFACE The mission of the International Federation of Accountants (IFAC), as set out in its constitution, is to serve the public interest, continue to strengthen the accountancy profession worldwide, contribute to the development of strong international economies by establishing and promoting adherence to high-quality professional standards, furthering the international convergence of such standards, and speaking out on public interest issues where the profession’s expertise is most relevant. In pursuing this mission, the IFAC Board has established the International Ethics Standards Board for Accountants (IESBA) to develop and issue, under its own authority, high quality ethical standards and other pronouncements for professional accountants for use around the world. This Code of Ethics for Professional Accountants (IESBA Code) establishes ethical requirements for professional accountants. A member body of IFAC or firm shall not apply less stringent standards than those stated in this Code. However, if a member body or firm is prohibited from complying with certain parts of this Code by law or regulation, they shall comply with all other parts of this Code. Some jurisdictions may have requirements and guidance that differ from those contained in this Code. Professional accountants in those jurisdictions need to be aware of those differences and comply with the more stringent requirements and guidance unless prohibited by law or regulation. 137 PART A—GENERAL APPLICATION OF THE IESBA CODE Page Section 100 Introduction and Fundamental Principles ................................................................
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This document was uploaded on 04/03/2014.

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