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Contains statements or information furnished recklessly; or
Omits or obscures information required to be included where such omission or obscurity
would be misleading. When a professional accountant becomes aware that the accountant has been associated with such
information, the accountant shall take steps to be disassociated from that information.
110.3 A professional accountant will be deemed not to be in breach of paragraph
110.2 If the professional accountant provides a modified report in respect of a matter contained in
paragraph 110.2. SECTION 120
120.1 The principle of objectivity imposes an obligation on all professional accountants not to
compromise their professional or business judgment because of bias, conflict of interest or the
undue influence of others. 120.2 A professional accountant may be exposed to situations that may impair objectivity. It is
impracticable to define and prescribe all such situations. A professional accountant shall not
perform a professional service if a circumstance or relationship biases or unduly influences the
accountant’s professional judgment with respect to that service.
143 SECTION 130
Professional Competence and Due Care
130.1 The principle of professional competence and due care imposes the following obligations on all
(a) To maintain professional knowledge and skill at the level required to ensure that clients or
employers receive competent professional service; and
(b) To act diligently in accordance with applicable technical and professional standards when
providing professional services.
130.2 Competent professional service requires the exercise of sound judgment in applying professional
knowledge and skill in the performance of such service. Professional competence may be divided
into two separate phases:
(a) Attainment of professional competence; and (b) Maintenance of professional competence. 130.3 The maintenance of professional competence requires a continuing awareness and an
understanding of relevant technical, professional and business developments. Continuing
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This document was uploaded on 04/03/2014.
- Spring '14