QUESTION 1 THE IMPACT OF CODES OF ETHICS AND EXPERIENCE ON AUDITOR JUDGMENTS The subject above highlights on investigating the impact of the presence of a code of ethics on the quality of auditors' judgments, within the context of the new International Standard on Quality Controls 1 (ISQCI). The International Auditing and Assurance Standards Board (IAASB) has recently introduced ISQC1[1], which aims to help firms establish a system of quality control for audits and reviews of historical financial information as well as other assurance and related services engagements. The standard applies to all members of the International Federation of Accountants (IFAC) and requires all firms to have policies and processes in place to ensure their human resources are both technically and ethically competent (ISQC1, p. 36). The purpose of the standard is to improve auditor performance and audit quality by strengthening the ethical environment. (Extracted from Emerald Insight https://www.emerald.com/insight/content/doi/10.1108/02686900 710759389/full/html) You are required to share a slide and video presentation to demonstrate on the following area:- a) Share on the IFAC requirement on Ethics and Professionalism, with reference to Code of Ethics Standard and International Standard on Quality Control 1 (ISQCI). b) What are the factors under professional and ethical consideration influence the auditors behavior and judgment on overall audit exercise QUESTION 1 THE IMPACT OF CODES OF ETHICS AND EXPERIENCE ON AUDITOR JUDGMENTS The subject above highlights on investigating the impact of the presence of a code of ethics on the quality of auditors' judgments, within the context of the new International Standard on Quality Controls 1 (ISQCI). The International Auditing and Assurance Standards Board (IAASB) has recently introduced ISQC1[1], which aims to help firms establish a system of quality control for audits and reviews of historical financial information as well as other assurance and related services engagements. The standard applies to all members of the International Federation of Accountants (IFAC) and requires all firms to have policies and processes in place to ensure their human resources are both technically and ethically competent (ISQC1, p. 36). The purpose of the standard is to improve auditor performance and audit quality by strengthening the ethical environment. (Extracted from Emerald Insight https://www.emerald.com/insight/content/doi/10.1108/02686900 710759389/full/html) You are required to share a slide and video presentation to demonstrate on the following area:- a) Share on the IFAC requirement on Ethics and Professionalism, with reference to Code of Ethics Standard and International Standard on Quality Control 1 (ISQCI). b) What are the factors under professional and ethical consideration influence the auditors behavior and judgment on overall audit exercise
