Code of ethics (ifac)

International Ethics Standards Board for Accountants

Revised July 2009

Code of Ethics for Professional Accountants

International Ethics Standards Board for Accountants International Federation of Accountants 545 Fifth Avenue, 14th Floor New York, New York 10017 USA

This Code of Ethics for Professional Accountants was prepared by the International Ethics Standards Board forAccountants (―IESBA‖), an independent standard-setting body within the International Federation of Accountants (IFAC). The IESBA develops and issues in the public interest high-quality ethics standards and other pronouncements for professional accountants for use around the world. It encourages member bodies to adopt high standards of ethics for their members and promotes good ethical practices globally.The IESBA also fosters international debate on ethical issues faced by accountants. This publication may be downloaded free-of-charge from the IFAC website: http://www.ifac.org. The approved text is published in the English language. The mission of IFAC is to serve the public interest, strengthen the worldwide accountancy profession and contribute to the development of strong international economiesby establishing and 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.

Copyright © July 2009 by the International Federation of Accountants (IFAC). All rights reserved. Permission is granted to make copies of this work provided thatsuch copies are for use in academic classrooms or for personal use and are not sold or disseminated and provided that each copy bears the following credit line: “Copyright © July 2009 by the International Federation of Accountants (IFAC). All rights reserved. Used with permission of IFAC. Contact permissions@ifac.org for permission to reproduce, store or transmit this document.” Otherwise, writtenpermission from IFAC is required to reproduce, store or transmit, or to make other similar uses of, this document, except as permitted by law. Contact permissions@ifac.org. ISBN: 978-1-60815-035-9
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CODE OF ETHICS FOR PROFESSIONAL ACCOUNTANTS CONTENTS Page PREFACE ............................................................................................................................ PARTA: GENERAL APPLICATION OF THE CODE ................................................ 100 110 120 130 140 150 200 210 220 230 240 250 260 270 280 290 291 300 310 320 330 340 350 Introduction and Fundamental Principles ................................................................. Integrity..................................................................................................................... Objectivity ................................................................................................................. Professional Competence and Due Care ................................................................... Confidentiality .......................................................................................................... Professional Behavior............................................................................................... Introduction ............................................................................................................... Professional Appointment ......................................................................................... Conflicts of Interest................................................................................................... Second Opinions ....................................................................................................... Fees and Other Types of Remuneration .................................................................... Marketing Professional Services ............................................................................... Gifts and...