GROUP 3

. NORMAN DASS A/L JAMES . MUHAMMAD HAFIZAN BIN ABDUL KADIR

. ANG SZE GIE

. KEE MEI CHWEN . LOH YEE DING

CONTENTS
INTEGRITY

OBJECTIVITY AND INDEPENDENCE

CONFIDENTIALLY AND DISCLOSURE

PROFESSIONAL BEHAVIOUR

DUE CARE AND COMPETENCE

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INTEGRITY

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Integrity is an important fundamental element of the accounting profession. Integrity requires

accountants to be honest, candid and forthright with accuracy financial information

A professional accountant should be straightforward and honest performing professional

services.

Accountants should restrict themselves from personal gain or advantage using confidential

information.

While errors or differences in opinion regarding the applicability of accounting laws do exist,

professional accountants should avoid the intentional opportunity to deceive and manipulate financial information.

These ethics and conduct rules ensure all accountants act in a consistent manner. In the

absence of specific rules or standards, accountants should review their actions to ensure they are following GAAP

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OBJECTIVITY & INDENPENCE

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Objectivity and independence are important ethical values in the accounting profession.

Accountants must remain free from conflicts of interest and other questionable business relationships when conducting accounting services. Failure to uphold the objective and independent may lead ability to provide an honest opinion about a companys financial

information will be affected.

Objectivity and independence are also important ethical values for professional accountants. The accounting industry usually limits the number of services public accounting firms or

individual certified public accountants (CPA) can offer clients.

Accounting services include general accounting, auditing, tax and management advisory services.

Accountants who perform more than one of these services for a client may compromise their objectivity and independence.

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CONFIDENTIALLY & DISCLOSURE

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 An accountant is privy to information that is often of an extremely sensitive nature. This information could be used by others for financial gain or to attack the reputation of another entity. The ethics of accounting restrict the flow of information to concerned parties only. Accountants should never discuss, disseminate, or leave documentation unprotected in a manner that may cause jeopardy or manipulation to any organization that they have been entrusted to represent. A professional accountant should respect the confidentiality of information acquired during the course of performing professional services and should not use or disclose any such information without proper and specific Authority or unless there is a legal or professional right or duty to disclose.

An accountant performs duties according to Generally Accepted Accounting Principles (GAAP). These principles have established standards for accounting that prevent ethical concerns if followed.
The ethics of disclosure are important because under certain circumstances this information can be optional according to GAAP. What a business wishes to disclose and what an accountant thinks should be disclosed can lead to an ethical battle. Proper disclosures will avoid ethical dilemmas by being complete enough to maintain the public's trust at all times.

PROFESSIONAL BEHAVIOUR

 A professional accountant should act in a manner consistent with the good reputation of the profession and refrain from any conduct which might bring discredit to the profession. The obligation to refrain from any conduct which might bring discredit to the profession requires IFAC member bodies to consider, when developing ethical requirements, the responsibilities of a professional accountant to clients, third parties, other members of the accountancy profession, staff, employers and the general public. At all times, accountants must perform to the best of their ability and act in a professional manner.

This includes following all aspects of GAAP, keeping up to date with continuing education
and seeking clarification or other assistance if needed to serve the client fully. Above all, the ethics of professionalism mean that an accountant must never be corrupted by a client or act in a manner that will lose public trust, damage the accounting firm or jeopardize

professional standing in any way.

DUE CARE & COMPETENCE

 Due care is the ethical value requiring accountants to observe all technical or ethical accounting standards. Professional accountants are often required to review generally accepted accounting principles (GAAP) and apply this framework to company specific

financial information.
Due care requires accountants to exercise competence, diligence and a proper understanding of financial information.

Competence is usually based on individual education and experience. It is also

a board rang of knowledge, skills, attitude, and observable behaviour those together accounts for the ability to deliver specified professional services.

THE END
Any Questions..???

THANK YOU

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