DipIFR Syllabus A. International sources of authority - Fundamental Principles - Notes ^{1 / 1}

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