For professional accountants
CIMA CODE OF ETHICS
CIMA CODE OF ETHICS FOR PROFESSIONAL ACCOUNTANTS CIMA PREFACE As Chartered Management Accountants CIMA members (and registered students) throughout the world have a duty to observe the highest standards of conduct and integrity, and to uphold the good standing and reputation of the profession. They must also refrain from any conduct which might discredit the profession. Members and registered students must have regard to these guidelines irrespective of their field of activity, of their contract of employment or of any other professional memberships they may hold. CIMA upholds the aims and principles of equal opportunities and fundamental human rights worldwide, including the handling of personal information. The Institute promotes the highest ethical and business standards, and encourages its members to be good and responsible professionals. Good ethical behaviour may be above that required by the law. In a highly competitive, complex business world, it is essential that CIMA members sustain their integrity and remember the trust and confidence which is placed on them by whoever relies on their objectivity and professionalism. Members must avoid actions or situations which are inconsistent with their professional obligations. They should also be guided not merely by the terms but by the spirit of this Code. CIMA members should conduct themselves with courtesy and consideration towards all with whom they have professional dealings and should not behave in a manner which could be considered offensive or discriminatory. To ensure that CIMA members protect the good standing and reputation of the profession, members must report the fact to the Institute if they are convicted or disqualified from acting as an officer of a company or if they are subject to any sanction resulting from disciplinary action taken by any other body or authority. CIMA has adopted the following code of ethics. This code is based on the IFAC* Code of Ethics, that was developed with the help of input from CIMA and the global accountancy profession. If a member cannot resolve an ethical issue by following this Code by consulting the ethics information on CIMA’s website or by seeking guidance from CIMA’s ethics helpline, he or she should seek legal advice as to both his or her legal rights and any obligations he or she may have. The CIMA Charter, Byelaws and Regulations give definitive rules on many matters. For further information see: www.cimaglobal.com/ethics *International Federation of Accountants. The CIMA Code of Ethics is based on the IFAC Handbook of the Code of Ethics for Professional Accountants, of the International Ethics Standards Board of Accountants (IESBA), published by IFAC in April 2010 and is used with permission by IFAC.
CIMA CODE OF ETHICS FOR PROFESSIONAL ACCOUNTANTS
CIMA CODE OF ETHICS FOR PROFESSIONAL ACCOUNTANTS Contents PREFACE PART A – GENERAL APPLICATION OF THE CODE 100 110 120 130 140 150 200 210 220 230 240 250 260 270 280 290 291 300 310 320 330 340 350 INDEX ANNEX 1 –separate document 290 291 Independence – Audit and Review Engagement Independence – Other Assurance Engagements Introduction and Fundamental Principles Integrity Objectivity Professional Competence and Due Care Confidentiality Professional Behavior Introduction Professional Appointment Conflicts of Interest Second Opinions Fees and Other Types of Remuneration Marketing Professional Services Gifts and Hospitality Custody of Client Assets Objectivity – All Services Independence – Audit and Review Engagements : see Annex 1 (separate document) Independence – Other Assurance Engagements: see Annex 1 (separate document) 22 23 25 26 26 27 28 30 36 Introduction Potential Conflicts Preparation and Reporting of Information Acting with Sufficient Expertise Financial Interests Inducements Page 1 3 4 7 8 8 9 10 11 12 15 17 18 18 20 20 20 21
PART B – PROFESSIONAL ACCOUNTANTS IN PUBLIC...
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