Month: January 2022

Insider dealing is illegal. It is also contrary to ethical rules. Individuals who during their course of work come across unpublished price sensitive data and information are prohibited to use such information for undue advantage. Auditors may have access to Read More …

The normal way or basis of charging for professional work is on the basis of the time spent on the client premises or work. It depends on the nature of the appointment. Those appointed by the Board of Directors, it Read More …

In the past, auditors and accountants were required to be anonymous in public matters. The rules are now less restrictive but there are still some prohibitions. A general prohibition is on any publicity which would bring the auditor, his professional Read More …

The rules of professional conduct prohibit auditors from advertising for their services as a resort. If a company wishes to appoint an auditor, it is usually the director who approaches one and requests him to place a quotation for the Read More …

Conflict of interest is like to arise between the auditor and his client. Specific example conflict of interest may include among others:  Provision of other service to audit clients Preparation of accounting records Receivership, Liquidation and audits

Fees It is undesirable that the auditor derives a huge proportion of his income from one single client. If this happens the auditor is likely to be compromised by this client Personal Relationships It is desirable to avoid personal relationships Read More …

The rule of the thumb is that the accountant must approach his work with integrity and objectivity. He must approach his in a spirit of independence of mind.

Professional accounts are required to observe proper standards of professional conduct whether or not the standards required are written in the rules or are unwritten. The professional accountants are specifically required to refrain from misconduct which is difficult to precisely Read More …

Most dictionaries describe and define profession as a calling or vocation involving some branch of learning. Accountancy involves a body of knowledge. Accountants must tried in various areas .The idea of a profession rests on the following premises A recognizable Read More …

Introduction Auditing is usually carried out by qualified accountant who must be registered as accountants. Accountancy is a profession and as such must be guided by code of ethics and rules of conduct. The rules of conduct are usually found Read More …