ethics

• ethical code is the guide accountants have to comply to which sets out the required ethical and professional behaviours
• IESBA

  international ethics standards board for accountants. results in:

  • consistent approach
  • public interest being protected
  • reputation of professional bodies being protected
• ccab is the consultant committee of accounting bodies for financial accounting. head of:

  • acca- accounting chatered certified association
  • cipfa -charted institute public finance accountants
  • cai -chartered accountants ireland
  • icas- institute chartered accountants scotland
  • all have a strong audit focus
• cima- chartered institute of management accountants

  focus is management accounting
• members are expected to comply with the codes and uphold the high standards that are expected of the accounting professionals
• failure to comply will result in disciplinary action for misconduct
• misconduct is bringing the profession into disrepute because of a breach of rules and regulations
• disciplinary action is taken on by the professional body such as the financial reporting council