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The Code of Ethics for Professional Accountants comprises: Integrity Objectivity Confidentiality Competence and Due Care QUESTIONS Discuss the following four situations with regards to the

The Code of Ethics for Professional Accountants comprises:

  1. Integrity
  2. Objectivity
  3. Confidentiality
  4. Competence and Due Care

QUESTIONS

Discuss the following four situations with regards to the Code of Ethics for Professional Accountants:

  • Bill has been asked to advise Company A on the purchase of Company B, particularly around the value of Company B. Company A does not know that Bill is related to the CFO of Company B.
  • Jill is an accountant for a small coffee shop. She was asked by her friend to see the accounting records of the shop, because the friend is thinking about opening a coffee shop herself and wants to know more about their profitability.
  • Phil was asked to advise a client about tax issues in Vietnam. Phil is not familiar with tax requirements in Vietnam, but he does not want to lose the client, so he agrees.
  • Will thinks that his client did not pay him correctly for previous services. To get back at the client, Will lies about accounting rules that impact the client.

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