Type
Essay
Pages
9 pages
Word Count
1262 words
School
Austin Graduate School o
Course Code
Auditing

HKICPA Code of Ethics

March 8, 2020
1111
HKICPA CODE OF ETHICS FOR
PROFESSIONAL ACCOUNTANTS
(COE)
Preface
Applicability
All members of the HKICPA.
How about a registered student?
YES!!! (signed an undertaking to observe and abide by the
Professional Accounting Ordinance and its By-Laws, and is
thus bound by the ethical requirements of the HKICPA and
subject to disciplinary proceedings)
Apparent failures by members of the Institute to comply with
the COE are liable to be enquired into by the appropriate
committee established under the authority of the Institute, and
disciplinary action may result.
2222
HKICPA CODE OF ETHICS FOR
PROFESSIONAL ACCOUNTANTS
(COE)
Fundamental Principles (Section 100)
Maintain integrity and objectivity.
Meet technical and professional standards when carrying out
professional work.
Respect the confidentiality of information acquired.
Follow ethical guidelines issued by the Institute.
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HKICPA CODE OF ETHICS FOR
PROFESSIONAL ACCOUNTANTS
(COE)
1. Independence (Section 290)
2. Conflicts of Interest (Section 220)
3. Confidentiality (Section 140)
4. Unlawful Acts or Defaults by Clients of Members (Section 410)
5. Practice Promotion (Section 450)
6. Changes in Professional Appointment (Section 440)
7. Fees (Section 240)
8. Management Consulting Services (Sections 290.156 290.219)
4444
INDEPENDENCE (SECTION 290)
Independence of mind (Independence in fact)Independence of mind (Independence in fact)
--
Independence in appearanceIndependence in appearance
--
5555
INDEPENDENCE (SECTION 290)
Objectives:
1. Identifying threats to independence.
2. Evaluating whether these threats are clearly
insignificant;
3. If not, identifying and applying appropriate
safeguards to eliminate or reduce the threats to
an acceptance level.
6666
CONFLICTS OF INTEREST (SECTION 220)
Conflicts between a practice’s interest andConflicts between a practice’s interest and
Interests of its clients.Interests of its clients.
Conflicts between interests of different clientsConflicts between interests of different clients
--
--
Proper Disclosure!Proper Disclosure!
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CONFIDENTIALITY (SECTION 140)
Information acquired in the course of professionalInformation acquired in the course of professional
work should not be disclosed unless:work should not be disclosed unless:
--Consent obtained from client, employer, or other proper source;Consent obtained from client, employer, or other proper source;
--There is a public duty to disclose; orThere is a public duty to disclose; or
--There is a legal or professional right to disclose.There is a legal or professional right to disclose.
A professional accountant should not takeA professional accountant should not take
advantage from information acquired in the courseadvantage from information acquired in the course
of professional work.of professional work.
UNLAWFUL ACTS OR DEFAULTS BY
CLIENTS OF THE MEMBERS (SECTION
410)
A member MUST disclose information if compelledA member MUST disclose information if compelled