Ethical Principles

In carrying out the audit of financial statements, auditors should comply with
the ethical guidance issued by their relevant professional bodies. Ethics is more
of a norm or a certain code of conduct expected of a group of individuals or a
professional body. It dictates some degree of inward values expected of such
groups of individuals or body.
The ethical principles which govern the auditors’ professional responsibilities
include:
(a) Integrity;
(b) Objectivity;
(c) Independence;
(d) Professional competence and due care; professional behaviour; and
(e) Cconfidentiality.
In Nigeria, the auditor should comply with the ‘Rules of Professional Conduct
for Members’ issued by The Institute of Chartered Accountants of Nigeria and
the accounting standards issued by the Nigerian Accounting Standards Board.
The ‘Rules of Professional Conduct for Members’ cover the following matters:
(a) Fundamental principles;
(b) Integrity, objectivity and independence;
(c) Conflicts of interest;
(d) Confidentiality;
(e) Changes in professional appointment;
(f) Consultancy;
(g) Association with non-members;
(h) Fees;
(i) Obtaining professional work;
(j) The names and letterheads of practising firms;
(k) Second and other opinions;
(l) Members in business; and
(m) Enforcement of ethical standards

---

Share : Facebook Twitter Google+ Digg

Jika Anda menyukai Artikel di blog ini, Silahkan klik disini untuk berlangganan gratis via email, Anda akan mendapat kiriman artikel setiap ada artikel yang terbit di Our Akuntansi