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Unformatted text preview: such as the
board of directors or the audit committee.
100.20 It may be in the best interests of the professional accountant to document the substance of the
issue, the details of any discussions held, and the decisions made concerning that issue.
100.21 If a significant conflict cannot be resolved, a professional accountant may consider obtaining
professional advice from the relevant professional body or from legal advisors. The professional
accountant generally can obtain guidance on ethical issues without breaching the fundamental
principle of confidentiality if the matter is discussed with the relevant professional body on an
anonymous basis or with a legal advisor under the protection of legal privilege. Instances in
142 which the professional accountant may consider obtaining legal advice vary. For example, a
professional accountant may have encountered a fraud, the reporting of which could breach the
professional accountant’s responsibility to respect confidentiality. The professional accountant
may consider obtaining legal advice in that instance to determine whether there is a requirement
100.22 If, after exhausting all relevant possibilities, the ethical conflict remains unresolved, a professional
accountant shall, where possible, refuse to remain associated with the matter creating the conflict.
The professional accountant shall determine whether, in the circumstances, it is appropriate to
withdraw from the engagement team or specific assignment, or to resign altogether from the
engagement, the firm or the employing organization. SECTION 110
110.1 The principle of integrity imposes an obligation on all professional accountants to be
straightforward and honest in all professional and business relationships. Integrity also implies
fair dealing and truthfulness.
110.2 A professional accountant shall not knowingly be associated with reports, returns,
communications or other information where the professional accountant believes that the
(c) Contains a materially false or misleading stateme...
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- Spring '14