Code of Ethics, 2009

CODE OF ETHICS
CHAPTER 2
PROFESSIONAL ACCOUNTANTS IN
PUBLIC PRACTICE
Section 200
Introduction
200.1 This Chapter of the Code illustrates how the conceptual
framework contained in Chapter 1 is to be applied by
professional accountants in public practice. The examples in
the following sections are not intended to be, nor should
they be interpreted as, an exhaustive list of all
circumstances experienced by a professional accountant in
public practice that may create threats to compliance with
the principles. Consequently, it is not sufficient for a
professional accountant in public practice merely to comply
with the examples presented; rather, the framework should
be applied to the particular circumstances faced.
200.2 A professional accountant in public practice should not
engage in any business, occupation or activity that impairs
or might impair integrity, objectivity or the good reputation of
the profession and as a result would be incompatible with
the rendering of professional services.
Threats and Safeguards
200.3 Compliance with the fundamental principles may potentially
be threatened by a broad range of circumstances. Many
threats fall into the following categories:
(a) Self-interest;
(b) Self-review;
(c) Advocacy;
(d) Familiarity; and
(e) Intimidation.
These threats are also discussed in Chapter 1.
The nature and significance of the threats may differ
depending on whether they arise in relation to the provision
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