What does an Auditor have to think about before accepting an appointment as Auditor
One of the most critical components of professional competence is ensuring that a Professional Accountant, including an auditor, does not agree to function in a capacity they do not have the necessary level of professional competence to carry out. This principle should be adhered to by all professional accountants, regardless of whether they perform their […]
What gives rise to a threat to an Auditor’s Independence and Objectivity, and how to deal with it?
Professional accountants and auditors must comply with a Code of Ethics (such as the IESBA’s Code of Ethics for Professional Accountants) (the Code). Many professional bodies worldwide have adopted the IESBA’s Code and made certain amendments to it to be country-specific. But, for the most part, the IESBA Code applies to most professional bodies and […]
What are the Fundamental Principles of Professional Ethics?
The ethical conduct of professional accountants and auditors is controlled by a set of criteria they must conform to. Auditors have a direct responsibility to the shareholders of a reporting entity (because auditors are appointed by the shareholders, not by management), but it is generally accepted that the fundamental principles of professional ethics do not […]
