SAICA CPC Flashcards
(12 cards)
FUNDEMENTAL PRINCIPLES
INTEGRITY
TO BE STRAIGHTFORWARD AND HONEST IN ALL PROFESSIONAL AND BUSINESS RELATIONSHIPS
OBJECTIVITY
TO EXERCISE PROFESSIONAL JUDGEMENT WITHOUT BEING COMPROMISED BY:
1. BIAS
2. CONFLICT OF INTEREST
3. UNDUE INFLUENCE OF OR UNDUE RELIENCE ON INDIVIDUALS, ORGANISATIONS TECHNOLOGY OR OTHER FACTORS
PROFESSIONAL COMPETENCE AND DUE CARE
TO ATTAIN AND MAINTAIN PROFESSIONAL KNOWLEDGE AND SKILL AT THE LEVEL REQUIRD TO ENSURE THAT A CLIENT RECEIVES COMPETENT PROFESSIONAL SERVICES
CONFIDENTIALITY
TO RESPECT THE CONFIDENTIALITY OF INFORMATION ACQUIRED AS A RESULT OF PROFESSIONAL AND BUSINESS RELATIONSHIP
PROFESSIONAL BEHAVIOUR
TO COMPLY WITH THE RELEVANT LAWS AND REGULATIONS, BEHAVE IN A MANNER THAT IS CONSISTENT WITH THE PROFESSION’S RESPONSIBILITY TO ACT IN THE PUBLIC INTEREST IN ALL PROFESSIONAL ACTIVITIES AND BUSINESS RELATIONSHIPS. AVOID ANY CONDUCT THAT MIGHT DISCREDIT THE PROFESSION.
THREATS
SELF-INTEREST
INTERESTS WILL APPROPRIATELY INFLUENCE AN ACCOUNTANTS JUDGEMENT OR BEHAVIOUR
SELF-REVIEW
WILL NOT APPROPRIATELY REVIEW THE RESULT OF PREVIOUS JUDGEMENT ON WHICH THEY WILL RELY ON WHEN FORMING A JUDGEMENT OF CURRENT ACTIVITY.
ADVOCACY
PROMOTING A CLIENT’S POSITION TO THE POINT THAT OBJECTIVITY IS COMPROMISED - NO LONGER INDEPENDENT
FAMILIARITY
THE THREAT THAT DUE TO A LONG OR CLOSE RELATIONSHIP WITH A CLIENT, THE ACCOUNTANT WILL BE TOO SYMPATHETIC TO THEIR INTERESTS OR TOO ACCEPTING OF THEIR WORK
INTIMIDATION
DETERRED FROM ACTING OBJECTIVELY BECAUSE OF ACTUAL OR PERCEIVED PRESSURES INCLUDING ATTEMPTS TO EXERCISE UNDUE INFLUENCE OVER AN ACCOUNTANT
