IESBA Emphasises the Critical Importance of Ethical Behaviour for All Professional Accountants
Recent events in a number of major jurisdictions involving professional accountants have raised concerns with many stakeholders and the public about accountants’ conduct. A number of these events have resulted in adverse consequences for the professional accountants or their firms, and undermined public trust in the accountancy profession.
Among all professions, the global accountancy profession is set apart by having the comprehensive and robust International Ethics Standards Board for Accountants’ (IESBA’s) International Code of Ethics for Professional Accountants (including International Independence Standards) (the Code), available on:
The Code is developed in accordance with a rigorous due process and under the oversight of the Public Interest Oversight Board (PIOB), available on:
The strength and global acceptance of the Code is evidenced by its adoption or use in over 130 jurisdictions, and adoption by the 34 largest international networks of accounting firms for transnational audits.
Professional accountants must act in all business and professional dealings or relationships in accordance with the fundamental principles of the Code. Importantly, the Code sets a clear expectation for professional accountants to promote an ethical culture within their organisations.