Revised Code of Ethics in the Phils - 2010

Ifacorgethics 132 the international federation of

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Unformatted text preview: ....................................................………….. 1 The International Federation of Accountants ......................................................................... 2 The Code of Ethics for Professional Accountants .................................................................. 5 IFAC encourages and facilitates the reproduction, or translation and reproduction of its publications. Interested parties wishing to reproduce, or translate and reproduce this handbook should contact permissions@ifac.org for the relevant terms and conditions. 131 CHANGES OF SUBSTANCE FROM PART I OF THE 2008 EDITION OF THE HANDBOOK AND RECENT DEVELOPMENTS Code of Ethics for Professional Accountants This handbook contains the revised Code of Ethics for Professional Accountants (the IESBA Code) issued by the International Ethics Standards Board of Accountants (IESBA). This handbook replaces the Code of Ethics for Professional Accountants contained in Part I of the 2008 edition of the Handbook of International Standards on Auditing, Assurance, and Ethics Pronouncements. Changes In July 2009, the IESBA issued a revised IESBA Code clarifying the requirements for all professional accountants and significantly strengthening the independence requirements of all auditors. The revised IESBA Code which is contained in this handbook is effective on January 1, 2011 with early adoption permitted. Changes to the IESBA Code Issued Subsequent to January 1, 2010 and Exposure Drafts For information on recent developments and to obtain final pronouncements issued subsequent to January 1, 2010 or outstanding exposure drafts, visit the IESBA’s website at http://www.ifac.org/Ethics/ 132 THE INTERNATIONAL FEDERATION OF ACCOUNTANTS The Organization The International Federation of Accountants (IFAC) is the worldwide organization for the accountancy profession. Founded in 1977, its mission is to serve the public interest by continuing to strengthen the worldwide accountancy profession and contributing to the development of strong international economies by establishing an...
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