It is out of question to impose ethical standards below the level imposed by the IFAC Code of Ethics

Author:Yiannakis THEOKLITOU

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DOI:

Keywords:ethical requirements, confidentiality, professional behavior, dangers, quality assurance network, performances matrix

Abstract:
The Code of Ethics imposes some ethical requirements for the experts and professional accountants. An accounting firm, the office of an accountant cannot apply principles below those stipulated in the Code of Ethics and the audit firm or the audit office should observe these minimal requirements. If the local jurisdiction in the respective country states other requirements, the audit firm should observe these requirements if they are stricter. Consequently, if in Romania the ethical requirements are stricter t6hat those of the Code of Ethics, than you should observe the local regulations in Romania. It is out of question to go down below the level imposed by the standards in the Code of Ethics. \r\n\r\nThe speaker ended stating the ten commandments of a good quality and risk management. If they are observed, things are going well every time. They are obvious: Take the right clients! Take the right engagements! Keep your objectivity! Observe the regulation and quality standards! Be sure that the recommendations are reviewed in advance! Keep evidences in writing of the recommendations! Maintain the client confidentiality! Update your knowledge!\r\n

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