These are Integrity, Objectivity, Professional competence, due care, Confidentiality, and Professional Behavior.
✿✿ INTEGRITY ✿✿
A professional accountant should be straightforward and honest in all professional and business relationships. Integrity also implies fair dealing and truthfulness. A professional accountant should not be associated with reports, returns, communications, or other information where they believe that the information:
๏ Contains a materially false or misleading statement;
๏ Contains statements or information furnished recklessly; or
๏ Omits or obscures information required to be included where such omission or obscurity would be misleading.
✿✿ OBJECTIVITY ✿✿
A professional accountant should not allow bias, conflict of interest, or undue influence of others to override professional or business judgments. Relationships that bias or unduly influence the professional accountant’s professional judgment should be avoided.
✿✿ PROFESSIONAL COMPETENCE AND DUE CARE ✿✿
A professional accountant has a continuing duty to maintain professional knowledge and skill at the level required to ensure that a client or employer receives competent professional service based on current developments in practice, legislation, and techniques. A professional accountant should act diligently and by applicable technical and professional standards when providing professional services. The principle of professional competence and due care imposes the following obligations on professional accountants:
๏ Maintain professional knowledge and skill at the level required to ensure that clients or employers receive competent professional service
๏ Act diligently by applicable technical and professional standards when providing professional services.
✿✿ CONFIDENTIALITY ✿✿
A professional accountant should respect the confidentiality of information acquired due to professional and business relationships and should not disclose any such information to third parties without proper and specific authority unless there is a legal or professional right or duty to disclose.
A professional accountant should therefore refrain from:
๏ Disclosing outside the firm or employing organization confidential information
acquired as a result of professional and business relationships without proper and spec
๏ Using confidential information acquired as a result of professional and business
relationships to the advantage of third parties.
✿✿ PROFESSIONAL BEHAVIOR ✿✿
A professional accountant should comply with relevant laws and regulations and avoid any action that discredits the profession.
Post Courtesy: Morshedul Alam Sourav