3-3 The Code of EthicsJICPA develops the Code of Ethics for its members. In 2000, JICPA’s annual assemblyapproved a revision of the Code of Ethics that was proposed by the Enhancement ofProfessional Ethics Project Team in JICPA. The new Code of Ethics is harmonized withthe, “Code of Ethics for Professional Accountants” (revised in 1998) of the InternationalFederation of Accountants (IFAC). Further development of the Ethics Code is underway in the newly established Independence Study ad-hoc Committee, in order to reflectIFAC’s new principle-based independence rules, which were announced in 2001.The Code of Ethics prescribes that "Certified Public Accountants have a duty to performtheir work with professional competence, integrity and objectivity to benefit the publicinterest and to contribute to the development of a sound society as professionals inauditing and accounting," and requires CPAs to have integrity, objectivity, professionalcompetency, due care, confidentiality and professional behavior.
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