Revised Code of Ethics in the Phils - 2010

Objectivity to not allow bias conflict of interest or

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Unformatted text preview: has been used. Compliance is required unless an exception is permitted by this Code. Fundamental Principles 100.5 A professional accountant shall comply with the following fundamental principles: (a) (b) (c) (d) (e) Integrity – to be straightforward and honest in all professional and business relationships. Objectivity – to not allow bias, conflict of interest or undue influence of others to override professional or business judgments. Professional Competence and Due Care – to maintain professional knowledge and skill at the level required to ensure that a client or employer receives competent professional services based on current developments in practice, legislation and techniques and act diligently and in accordance with applicable technical and professional standards. Confidentiality – to respect the confidentiality of information acquired as a result of professional and business relationships and, therefore, not disclose any such information to third parties without proper and specific authority, unless there is a legal or professional right or duty to disclose, nor use the information for the personal advantage of the professional accountant or third parties. Professional Behavior – to comply with relevant laws and regulations and avoid any action that discredits the profession. A professional accountant has a continuing duty to maintain professional knowledge and skill at the level required in order to ensure that a client or employer receives competent professional services based on current developments in practice, legislation and techniques, 17 and that the professional accountant acts diligently and in accordance with applicable technical and professional standards. In addition, they should conform with the technical and professional standards of the following: Board of Accountancy (BOA)/Professional Regulation Commission (PRC); Securities and Exchange Commission (SEC); Bangko Sentral ng Pilipinas (BSP); Insurance Commission (IC); Cooperative Development Authority (CDA); Philippine Financial Reporting Standards Council (PFRSC); Auditing...
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This document was uploaded on 04/03/2014.

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