100.1 A prominent feature of the profession of accounting and auditing is the acceptance of responsibility for the benefit of the public. Therefore, the responsibility of professional accountants and auditors is not only limited to meeting the needs of individual customers or enterprises where professional accountants and auditors work, but also must grasp is subject to and complies with the provisions of this Standard for the benefit of the public. In the event that a professional accountant or auditor is unable to comply with certain provisions of this Standard that are not permitted by law and relevant regulations, a professional accountant or auditor shall still The other provisions of this Standard must be complied with.
100.2 This Standard consists of three parts:
Part A: General provisions and basic ethical principles;
Part B: Applies to accountants, practicing auditors;
Part C: Applies to accountants, professional auditors in the business.
Part A outlines the basic ethical principles of the accounting and auditing profession, and at the same time, provides a framework that professional accountants and auditors must apply to:
(a) Identification of hazards affecting adherence to basic ethical principles;
(b) Assess the severity of those hazards;
(c) Apply the necessary protective measures to eliminate or reduce the hazards to an acceptable level. Protective measures are necessary when professional accountants and auditors determine that the risk would result in a suitable and well-informed third party, after considering the facts and circumstances. available to accountants, professional auditors at that time, can conclude with relative certainty that the basic ethical principles were violated.
Professional accountants and auditors must use their professional judgment in the application of this Standard.
100.3 Parts B and C provide guidance on the application of the framework outlined in Part A under certain circumstances. These sections provide some examples of suitable safeguards to overcome the risks that affect compliance with basic ethical principles. These sections also address situations that lead to hazards that no protective measure can overcome, so those situations or relationships need to be avoided.
Part B applies to accountants and practicing auditors.
Part C applies to accountants, professional auditors in businesses. However, accountants and practicing auditors may also refer to Part C in certain situations.
100.4 The use of the word "must"; The “need” in this Standard emphasizes the requirement under which an accountant, a professional auditor, or an accounting firm or an auditing firm (hereinafter referred to as “an accounting firm, payment) is subject to compliance, with the exception of the exceptions described in this Standard.
Basic moral principles
100.5 Professional accountants and auditors must comply with the following basic ethical principles:
(a) Integrity: Be candid and honest in all professional and business relationships;
(b) Objectivity: Not to allow bias, a conflict of interest or any unreasonable influence to influence its professional and business judgments;
(c) Professional competence and prudence: Demonstrate and maintain the knowledge and expertise required to ensure that a customer or business owner is provided with quality professional service based on the latest in professional, legal and technical knowledge, and acting with care and in accordance with applicable technical and professional standards;
(d) Confidentiality: Information obtained from professional and business relationships must be kept confidential, therefore, any information must not be disclosed to third parties without the consent of the other party. authority, except when having the right or obligation to provide information as required by law or regulatory authority or professional organization, and also not to use the information for the accountant's personal benefit , professional or third party auditors;
(e) Professional Qualification: Must comply with relevant laws and regulations, avoid any action that reduces the credibility of their profession.
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