Handbook of the Code of Ethics for Professional Accountants

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International Federation of Accountants 545 Fifth Avenue, 14th Floor New York, New York 10017 USA This publication was prepared by the International Federation of Accountants (IFAC). Its mission is to serve the public interest, strengthen the worldwide accountancy profession and contribute to the development of strong international economies by establishing and promoting adherence to high quality professional standards, furthering the international convergence of such standards and speaking out on public interest issues where the profession’s expertise is most relevant. This publication may be downloaded free-of-charge from the IFAC website http://www.ifac.org. The approved text is published in the English language. IFAC welcomes any comments you may have regarding this publication. Comments may be sent to the address above or emailed to IESBApubs@ifac.org.

Copyright © April 2010 by the International Federation of Accountants (IFAC). All rights reserved. Permission is granted to make copies of this work provided that such copies are for use in academic classrooms or for personal use and are not sold or disseminated and provided that each copy bears the following credit line: “Copyright © April 2010 by the International Federation of Accountants (IFAC). All rights reserved. Used with permission of IFAC. Contact permissions@ifac.org for permission to reproduce, store, or transmit this document.” Otherwise, written permission from IFAC is required to reproduce, store, or transmit, or to make other similar uses of, this document, except as permitted by law. Contact permissions@ifac.org. ISBN: 978-1-60815-061-8

HANDBOOK OF THE CODE OF ETHICS FOR PROFESSIONAL ACCOUNTANTS 2010 EDITION Scope of this Handbook This handbook contains the revised Code of Ethics for Professional Accountants (the IESBA Code) issued by the International Ethics Standards Board of Accountants (IESBA). The revised IESBA Code is effective on January 1, 2011 with early adoption permitted. This handbook, together with the 2010 edition of the Handbook of International Quality Control, Auditing, Review, Other Assurance and Related Services Pronouncements, replaces the 2009 edition and Part I of the 2008 edition of the Handbook.

How this Handbook is Arranged
The contents of this handbook are arranged by section as follows: Changes of Substance from the 2008 Edition of the Handbook and Recent Developments ................................................................................................. The International Federation of Accountants ......................................................... The Code of Ethics for Professional Accountants ................................................. 1 2 5

IFAC encourages and facilitates the reproduction, or translation and reproduction of its publications. Interested parties wishing to reproduce, or translate and reproduce this handbook should contact permissions@ifac.org for the relevant terms and conditions.

CHANGES OF SUBSTANCE FROM PART I OF THE 2008 EDITION OF THE HANDBOOK AND RECENT DEVELOPMENTS Code of Ethics for Professional Accountants This handbook contains the revised Code of Ethics for Professional Accountants (the IESBA Code) issued by the International Ethics Standards Board of Accountants (IESBA). This handbook replaces the Code of Ethics for Professional Accountants contained in Part I of the 2008 edition of the Handbook of International Standards on Auditing, Assurance, and Ethics Pronouncements. Changes In July 2009, the IESBA issued a revised IESBA Code clarifying the requirements for all professional accountants and significantly strengthening the independence requirements of all auditors. The revised IESBA Code which is contained in this handbook is effective on January 1, 2011 with early adoption permitted. Changes to the IESBA Code Issued Subsequent to January 1, 2010 and Exposure Drafts For information on recent developments and to obtain final pronouncements issued...
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