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Syllabus A. Audit Framework And Regulation A4. Professional Ethics

A4a. Fundamental Principles

Syllabus A4a)

Define and apply the fundamental principles of professional ethics of integrity, objectivity, professional competence and due care, confidentiality and professional behaviour.

The 5 fundamental principles of the ACCA Code of Ethics must be followed

The 5 Fundamental principles and what they mean

  1. Integrity

    Be straightforward and honest in all professional relationships

  2. Objectivity

    No bias or conflict of interest influencing your business judgements

  3. Professional Competence & Due Care

    Keep up your professional knowledge and skill so as to give a competent professional service, using current developments and techniques

    Act diligently and within appropriate standards when providing professional services

  4. Confidentiality

    Don't disclose any confidential information to third parties without proper and specific authority

    You can, however, if there is a legal or professional right or duty to disclose

    Obviously never use it for personal advantage of yourself or third parties

  5. Professional behaviour

    A professional accountant should act in a manner consistent with the good reputation of the profession

    Refrain from any conduct which might bring discredit to the profession

In the exam question you may have to apply these to a case study - groovy baby..