Revised Code of Ethics in the Phils - 2010

These independent standard setting boards all have

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Unformatted text preview: d 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. IFAC is comprised of 159 members and associates in 124 countries worldwide, representing approximately 2.5 million accountants in public practice, industry and commerce, the public sector, and education. No other accountancy body in the world and few other professional organizations have the broad-based international support that characterizes IFAC. IFAC’s governing bodies, staff and volunteers are committed to the values of integrity, transparency and expertise. IFAC also seeks to reinforce professional accountants’ adherence to these values through the Code of Ethics for Professional Accountants issued by the International Ethics Standards Board for Accountants. Visit the IFAC website at for further information. Standard-Setting Initiatives IFAC has long recognized that a fundamental way to protect the public interest is to develop, promote, and enforce internationally recognized standards as a means of ensuring the credibility of information upon which investors and other stakeholders depend. The International Auditing and Assurance Standards Board (IAASB), the International Accounting Education Standards Board (IAESB), the International Ethics Standards Board for Accountants (IESBA), and the International Public Sector Accounting Standards Board (IPSASB) follow a rigorous due process that supports the development of high-quality standards in the public interest in a transparent, efficient, and effective manner. These independent standard-setting boards all have Consultative Advisory Groups, which provide public interest perspectives, and include public members. These boards issue the following pronouncements: • • • • • • Code of Ethics for Professional Accountants International Standards on Auditing, Review, Other Assurance, and Related Services International Standard on Quality Control International Education Standards International Public Sector Accounting Standards The IAASB, IAESB, IESB...
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