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Unformatted text preview: uing professional development requirements.
• 100.15 Corporate governance regulations.
Professional or regulatory monitoring and disciplinary procedures.
External review by a legally empowered third party of the reports, returns, communications
or information produced by a professional accountant. Parts B and C of this Code discuss safeguards in the work environment for professional
accountants in public practice and professional accountants in business, respectively. 100.16 Certain safeguards may increase the likelihood of identifying or deterring unethical behavior.
Such safeguards, which may be created by the accounting profession, legislation, regulation, or
an employing organization, include:
• Effective, well-publicized complaint systems operated by the employing organization, the
profession or a regulator, which enable colleagues, employers and members of the public to
draw attention to unprofessional or unethical behavior. • An explicitly stated duty to report breaches of ethical requirements. Ethical Conflict Resolution
100.17 A professional accountant may be required to resolve a conflict in complying with the
100.18 When initiating either a formal or informal conflict resolution process, the following factors,
either individually or together with other factors, may be relevant to the resolution process:
(e) Relevant facts;
Ethical issues involved;
Fundamental principles related to the matter in question;
Established internal procedures; and
Alternative courses of action. Having considered the relevant factors, a professional accountant shall determine the appropriate
course of action, weighing the consequences of each possible course of action. If the matter
remains unresolved, the professional accountant may wish to consult with other appropriate
persons within the firm or employing organization for help in obtaining resolution.
100.19 Where a matter involves a conflict with, or within, an organization, a professional accountant shall
determine whether to consult with those charged with governance of the organization,...
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- Spring '14