ACCA Code of Ethics and Conduct
ACCA (Association of Chartered Certified Accountants) is a global professional accounting body that sets standards for the education, training, and professional development of its members. The ACCA code of ethics and conduct sets out the ethical principles and professional behaviours that its members are expected to uphold in order to maintain the integrity and reputation of the profession.
The ACCA code of ethics and conduct is based on five fundamental principles:
Integrity: ACCA members are expected to be honest, truthful, and respectful in their professional dealings. For example, an ACCA member working as an auditor would need to be honest and truthful when reporting on the financial statements of a company, and would not be allowed to misrepresent the financial position of the company.
Objectivity: ACCA members are expected to be fair, impartial, and objective in their professional judgment, and to avoid any conflicts of interest. For example, an ACCA member working as a consultant would need to be objective in their recommendations to a client and would not be allowed to have a financial interest in the client’s business.
Professional competence and due care: ACCA members are expected to maintain a high level of professional competence and to exercise due care in their work, in order to protect the interests of their clients and the public. For example, an ACCA member working as a tax advisor would need to be competent in tax laws and regulations and would need to exercise due care in providing advice to clients in order to ensure that the clients’ tax affairs are in order.
Confidentiality: ACCA members are expected to protect the confidentiality of client information and to respect the privacy of individuals. For example, an ACCA member working as a financial planner would need to keep client financial information confidential and would not be allowed to disclose any information to third parties without the client’s consent.
Professional behaviour: ACCA members are expected to act in a professional manner at all times and to avoid any conduct that might bring the profession into disrepute. For example, an ACCA member working as a management accountant would need to behave professionally when interacting with colleagues and clients, and would not be allowed to engage in any behaviour that could damage the reputation of the profession.
These fundamental principles provide a framework for the ethical conduct of ACCA members and guide their decision-making in professional situations. They are designed to ensure that ACCA members uphold the highest standards of professionalism and integrity in their work.
