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Fundamental principles of a professional Accountant

Expensivejoy01

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A professional accountant is required to comply with the following fundam principles:-

*}Integrity:- a professional accountant should be straightforward and honest in all professional and bussiness relationships.

*} Objectivity:- A professional accountant should not allow bias, conflict of interest for undue influence if others to override professional or bussiness judgements.

*} Professional competence and due Care:- A professional Accountant has a continuing duty to maintain professional knowledge and skills at the level required to ensure that a client or employer receives competent professional service based on current development in practice.

*} Confidentiality:- A professional accountant should respect the confidentiality of Information acquired as a result of professional and bussiness relationships and should not disclose any such information to third parties without proper and specific authority.

*} Professional behavior:- A professional accountant should comply with relevant laws and regulations and should avoid any action that discredits the profession.
 
Fundamental principles... this is actually a code of ethics for professional accountants as issued by IESBA-IFAC which has offices in New York, USA. The accountant's code of ethics is the main basis for carrying out activities as a professional accountant.
 
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