Monday, July 16, 2012

Integrity

Following are excerpt from the IFAC Code regarding "Integrity"
Integrity  
110.1 The principle of integrity imposes an obligation on all professional accountants to be straightforward and honest in all professional and business relationships. Integrity also implies fair dealing and truthfulness.  
110.2 A professional accountant  shall  not  knowingly  be associated with reports, returns, communications or other information where the professional accountant believes that the information: 
(a) Contains a materially false or misleading statement; 
(b) Contains statements or information furnished recklessly; or 
(c) Omits or obscures information required to be included where such omission or obscurity would be misleading. When  a professional accountant becomes aware that the accountant has been associated with such information, the accountant shall take steps to be disassociated from that information. 
110.3 A professional accountant will be deemed not to be in breach of paragraph  
110.2 if the professional accountant provides a modified report in respect of a matter contained in paragraph 110.2.

Source : http://www.ifac.org/publications-resources/2012-handbook-code-ethics-professional-accountants

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