Certifies the correctness of the financial statements

Is an assurance as to the future viability of the entity.

Is an assurance as to the efficiency with which management has conducted the affairs of the entity, but not effectiveness.

Enhances the credibility of the financial statements

Pursuing personal interests

Avoiding conflicts of interest

Maximizing profit in the short term

Meeting ethical obligations in the long term

To develop and enforce codes of ethics

To maximize profits for members

To stifle competition

To provide networking opportunities

Non-maleficence

Fidelity

Beneficence

Autonomy

Prioritizing profits over ethics 

Encouraging unethical practices

Leading by fear and control

Inspiring others to act ethically

Working overtime

Accepting gifts from a client

Maintaining confidentiality 

Reporting unethical behavior

 To ensure profitability

To outline legal responsibilities

To provide guidelines for ethical behavior

To promote competition 

Professional Scepticism 

Pre-Engagement 

Independence 

Maximizing personal gain

Serving the best interests of clients or the public

Complying with the laws

Avoiding conflicts of interest

Ignoring it

Pursuing personal interests

Hiding information from others

Disclosing the conflict and seeking guidance