TABLE 6.1
Download
1 / 17

- PowerPoint PPT Presentation


  • 201 Views
  • Updated On :

TABLE 6.1. WHAT MAKES A PROFESSION. TABLE 6.2. FEATURES, DUTIES, RIGHTS, AND VALUES OF THE ACCOUNTING PROFESSION. TABLE 6.3. MOTIVES INFLUENCING PEOPLE AT KOHLBERG’S SIX STAGES OF MORAL REASONING. TABLE 6.4. NATIONAL AND INTERNATIONAL ACCOUNTING ORGANIZATIONS OPERATING IN NORTH AMERICA.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about '' - chloris


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
Slide1 l.jpg

TABLE 6.1

WHAT MAKES A PROFESSION


Slide2 l.jpg

TABLE 6.2

FEATURES, DUTIES, RIGHTS, AND VALUES OF THE ACCOUNTING PROFESSION


Slide3 l.jpg

TABLE 6.3

MOTIVES INFLUENCING PEOPLE AT KOHLBERG’S SIX STAGES OF MORAL REASONING


Slide4 l.jpg

TABLE 6.4

NATIONAL AND INTERNATIONAL ACCOUNTINGORGANIZATIONS OPERATING IN NORTH AMERICA


Slide5 l.jpg

TABLE 6.5

CONTRIBUTIONS TO THE NORTH AMERICAN REGULATORY FRAMEWORK FOR PROFESSIONAL ACCOUNTANTS


Slide6 l.jpg

TABLE 6.6

TYPICAL FRAMEWORK FOR A CODE OF CONDUCTFOR PROFESSIONAL ACCOUNTANTS


Slide7 l.jpg

TABLE 6.7

FUNDAMENTAL PRINCIPLES IN CODES OF CONDUCTFOR PROFESSIONAL ACCOUNTANTS


Slide8 l.jpg

TABLE 6.8

IFAC 2005 CODE OF ETHICS FOR PROFESSIONAL ACCOUNTANTSFUNDAMENTAL PRINCIPLES – SECTION 100.4


Slide9 l.jpg

TABLE 6.9

POSSIBLE SANCTIONS FOR UNETHICAL BEHAVIOR UNDER PROFESSIONAL ACCOUNTING CODES OF CONDUCT AND REGULATORY AUTHORITIES


Slide10 l.jpg

TABLE 6.10

THE MACDONALD COMMISSION: OVERVIEW OF PRINCIPAL RECOMMENDATIONS


Slide11 l.jpg

TABLE 6.11

IFAC 2005 CODE OF ETHICS FOR PROFESSIONAL ACCOUNTANTSFRAMEWORK—CONTENTS

  • Page

  • PREFACE..................................................................................................................................... 2

  • PART A: GENERAL APPLICATION OF THE CODE

    • 100 Introduction and Fundamental Principles ................................................................. 4

    • 110 Integrity ...................................................................................................................... 9

    • 120 Objectivity ................................................................................................................... 10

    • 130 Professional Competence and Due Care.................................................................. 11

    • 140 Confidentiality ............................................................................................................ 12

    • 150 Professional Behavior ................................................................................................ 14

  • PART B: PROFESSIONAL ACCOUNTANTS IN PUBLIC PRACTICE

    • 200 Introduction.................................................................................................................. 16

    • 210 Professional Appointment........................................................................................... 21

    • 220 Conflicts of Interest ..................................................................................................... 24

    • 230 Second Opinions ......................................................................................................... 26

    • 240 Fees and Other Types of Remuneration..................................................................... 27

    • 250 Marketing Professional Services................................................................................. 29

    • 260 Gifts and Hospitality .................................................................................................... 30

    • 270 Custody of Clients Assets .......................................................................................... 31

    • 280 Objectivity—All Services.............................................................................................. 32

    • 290 Independence—Assurance Engagements .................................................................. 33

  • PART C: PROFESSIONAL ACCOUNTANTS IN BUSINESS

    • 300 Introduction................................................................................................................... 79

    • 310 Potential Conflicts........................................................................................................ 83

    • 320 Preparation and Reporting of Information .................................................................. 85

    • 330 Acting with Sufficient Expertise................................................................................... 86

    • 340 Financial Interests ...................................................................................................... 87

    • 350 Inducements ............................................................................................................... 89

  • DEFINITIONS............................................................................................................................... 91

  • EFFECTIVE DATE....................................................................................................................... 95


Slide12 l.jpg

FIGURE 6.1

IFAC 2005 CODE OF ETHICS FRAMEWORK

Duty to Society,

Serve the Public Interest

(S 100.1)

  • Compliance with Fundamental Principles

    • Integrity, Objectivity

    • Professional Competence & Due Care

    • Confidentiality, Professional Behavior

(S 100.4)

Threats to Compliance with Fundamental Principles

Identify, Evaluate, Eliminate or Reduce Threats to

Acceptable Levels by Applying Safeguards

And Resolving any Conflicts in Application

Threats (S 100.10)Safeguards(S 100.11 & 12)

Self-Interest, Self-review Professional Codes, Training or Standards

Advocacy, Familiarity, Intimidation Legislation, Regulation, In client, firm or business

(S 100.5)

(S 100.16)

Source: IFAC Code of Ethics for Professional Accountants, June 2005 (Section number).


Slide13 l.jpg

TABLE 6.12

THREATS TO NONCOMPLIANCE – INDEPENDENT JUDGEMENT


Slide14 l.jpg

TABLE 6.13

SAFEGUARDS REDUCING THE RISK OF CONFLICT OF INTEREST SITUATIONS


Slide15 l.jpg

FIGURE 6.2

IFAC CODE’S FRAMEWORK FOR INDEPENDENT JUDGMENT

Protect the Public Interest

Professional Service to Clients

Independence of Mind and Appearance

(S 290.8)

Independent Judgment

Integrity

Objectivity

Professional

Skepticism

Source: IFAC Code of Ethics for Professional Accountants, 2005, S 290.8 & Independence Definition


Slide16 l.jpg

TABLE 6.14

CONFLICTS OF INTEREST FOR PROFESSIONAL ACCOUNTANTS: CATEGORIES, SPHERES OF ACTIVITY AFFECTED, AND EXAMPLES


Slide17 l.jpg

FIGURE 4.1

IFAC 2001 CODE OF ETHICS VALUES FRAMEWORK

Duty to Society,

Serve the Public Interest

Objectives

Meet Expectations for Professionalism, Performance, Public Interest

Basic Needs

Credibility, Professionalism, Highest Quality Services, Confidence

  • Fundamental Principles

    • Integrity, Objectivity, Professional Competence, Due Care,

    • Skepticism, Confidentiality, Professional Behavior, Technical Standards

Source: IFAC, November, 2001.


ad