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BY-LAWS (ON PROFESSIONAL ETHICS,
CONDUCT AND PRACTICE) OF THE
MALAYSIAN INSTITUTE OF ACCOUNTANTS

Malaysian Institute of Accountants
Dewan Akauntan, No. 2, Jalan Tun Sambanthan 3,
Brickfields, 50470 Kuala Lumpur, Malaysia.
Website: www.mia.org.my

(AMENDED AS AT 15 JUNE 2012)

By-Laws (On Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants [Issued December 2010]

PREFACE

The Revised By-Laws (On Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants are issued by the Council of the Malaysian Institute of Accountants come into effect on 1 January 2011 unless otherwise stated herein. The Revised By-Laws (On Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants are issued pursuant to section 10(a) of the Accountants Act 1967 and is binding on all members of the Malaysian Institute of Accountants.

The Revised By-Laws (On Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants (collectively referred to as the “By-Laws” or singularly referred to by the relevant ByLaws as set out herein), is the copyright of the Malaysian Institute of Accountants, save for the By-Laws on Professional Ethics which is substantially based on Code of Ethics for Professional Accountants of the International Ethics Standards Board of Accountants (IESBA),published by the International Federation of Accountants (IFAC) in April 2010 and is used with permission of IFAC. The reproduction of the text in the By-Laws on Professional Ethics herein has been consented to by IFAC strictly on the basis that the user is not allowed to translate, reprint or reproduce or utilise in any form either in whole or in part or by any electronic, mechanical or other means, now known or hereafter invented, including photocopying and recording, or on any information storage or retrieval system, the same without prior permission in writing from IFAC.

Save and except to the extent that the By-Laws on Professional Ethics is substantially based on the IESBA Code (the copyright of which is held by the IFAC), the material contained herein is the property of the Malaysian Institute of Accountants and is protected by copyright, trademark and other intellectual property rights laws applicable in Malaysia. All rights reserved. The material herein may be accessed and displayed on a computer, monitor or other video display device, and the user may make a print copy of any page or part thereof from the material herein, solely for personal use and reference or for academic classrooms, provided the same is not modified in any way. The user must not modify, copy, reproduce, distribute, republish, display, sell, create derivative works, communicate or convey to others, store in a retrieval system, transmit or export in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, or otherwise use the material contained herein or any part thereof, in any way for commercial, profit or other purposes.

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By-Laws (On Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants [Issued December 2010]

TABLE OF CONTENTS
1.

FOREWORD

1

2.

DEFINITIONS

3

3.

PART I: BY-LAWS ON PROFESSIONAL ETHICS

14

EXPLANATORY FOREWORD

14

PART A:

GENERAL APPLICATION

16

Fundamental Principles and Conceptual Framework

17

100.1

Fundamental Principles

17

100.2

Conceptual Framework Approach

17

100.8

Threats and Safeguards

19

100.13

Ethical Conflict Resolution

20

100

110

Integrity

22

120

Objectivity

23

130

Professional Competence and Due Care

24

140

Confidentiality

25

150

Professional Behaviour

27

150.1

Professional Behaviour

27

150.2

Advertising, Marketing and Promotions

27

PART B:
200

PROFESSIONAL ACCOUNTANTS IN PUBLIC PRACTICE

28

Introduction

29

200.1...
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