This session is the first of four explaining the revised APES 110 Code of Ethics for Professional Accountants (including Independence Standards). Effective from 1 January next year, the revised code affects us all.
Parts 1 and 2 of the code apply to members of CA ANZ, CPA Australia and the IPA. Part 2 applies to members in business. The latter include members employed, engaged or contracted in an executive or non-executive capacity in, for example, commerce, industry and service, the public sector, education, the not-for-profit sector, and regulatory and professional bodies. The session will cover:
- Complying with the code, the fundamental principles and conceptual framework
- Applying the conceptual framework
- Conflicts of interest
- Preparation and presentation of information
- Acting with sufficient expertise
- Financial interests, compensation and incentives linked to financial reporting and decision-making
- Inducements, including gifts and hospitality
- Responding to non-compliance with laws and regulations, and
- Pressure to breach the fundamental principles.
