All 18 Ethics & Independence questions
More in Ethics & Independence
What is auditor independence and why is it essential? What is a self-review threat, with an example? What is confidentiality and when can it be overridden? What is objectivity and how does it differ from independence? What is integrity in the context of auditing? What are the main threats to auditor independence? What safeguards can mitigate threats to independence? How do audit fees create threats to independence? What is a familiarity threat and how is it managed? How does the conceptual framework approach to ethics work?
Advertisement
Auditing & Assurance › Ethics & Independence

What are the fundamental principles of professional ethics for auditors?

Beginner

Answer

The IESBA Code sets five fundamental principles: integrity (be honest and straightforward), objectivity (no bias or undue influence), professional competence and due care (maintain skill and diligence), confidentiality (protect client information), and professional behavior (comply with laws and avoid discrediting the profession). Auditors must uphold all five.
IESBA principles: Integrity, Objectivity, Professional Competence
& Due Care, Confidentiality, Professional Behavior.
Real-world example An auditor declines to disclose a client's confidential data to a third party, upholding confidentiality.

Common follow-ups: Who issues the ethics code? | Which principle covers bias?

ISA Standards Audit Objectives & Types Ethics & Independence
All 18 Ethics & Independence questions