The five fundamental principles

1) Integrity

A professional accountant should be straightforward and honest in all professional and business relationships.

2) Objectivity

A professional accountant should not allow bias, conflict of interest or undue influence of others to override professional or business judgments.

3) 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 services based on current developments in practice, legislation and techniques. A professional accountant should act diligently and in accordance with applicable technical and professional standards.

4) Confidentiality

A professional accountant should respect the confidentiality of information acquired as a result of 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. Confidential information acquired as a result of professional and business relationships should not be used for the personal advantage of the professional accountant or third parties.

5) Professional behaviour

A professional accountant should comply with relevant laws and regulations and should avoid any action that discredits the profession.

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