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 but which includes any act or default which is likely to bring discredit on himself, his professional body or the profession generally Several general observations are worth mentioning. These include among others:
- Professional independence – this is vitally important. This is much of the attitude or state of mind rather than a set of rules.
- Integrity – Integrity is vital and is simply includes honesty, uprightness, probity rectitude and moral soundness
- Accountants must not only be people of integrity and independence; they must also be seen to be so. Any interest such as owning shares in a clients company which might diminish the accountant’s objectivity must be avoided
- When an accountant has difficult or is unsure of what course of conduct to follow, he should consult his professional body or take legal advice. If in doubt always seek advice