Rules of professional conduct

Introduction
Auditing is carried out by accountants in public
practice. Accountancy is a profession and professions have certain
characteristic including an ethical code and rules of conduct.
This chapter is concerned with the rules of conduct
prescribed by the

professional accounting bodies.

Questions on professional standards are frequently
found in auditing examinations, as examiners see auditing papers as a suitable
vehicle for examining ethics, even when they do not specifically relate to
auditing.
The rules are found in the handbooks issued to all
members of their professional body. Students should be aware of the ethical
rules of the professional body they are trying to join as there apply to
registered students as well as qualified members. In any case there are some
generic ethical standards which are included in the ethical codes of all the
professional accountancy bodies.
In this chapter we will look at the fundamental
ethical principles which underpin the auditor’s day-to day work. Certain specific
topics, principally fraud, changes in professional appointments (professional
etiquette) and professional liability will be dealt with in separate chapters. Some
of these principles are based on the APB ethical standard I integrity,
objectivity and independence.

Leave a Reply

Your email address will not be published. Required fields are marked *