16.5 Professional ethics for accountants, corporate secretaries

Accountants:

1. Integrity: They should not engage in or condone fraudulent activities, misrepresentations, or unethical financial practices.
2. Objectivity: Accountants must maintain objectivity and not allow conflicts of interest to compromise their professional judgment.
3. Professional competence and due care: Accountants should continuously update their knowledge and skills to ensure they provide competent and high-quality services. They should perform their duties diligently, with attention to detail and accuracy.
4. Confidentiality: They must respect and protect the confidentiality of client or employer information unless required by law to disclose it.
5. Responsibility to clients and employers: They should prioritize the interests of their clients or employers and provide accurate and unbiased financial information.
6. Independence: They must be free from any financial or other interests that could compromise their objectivity and independence.
7. Compliance with laws and regulations: Accountants must adhere to all relevant laws, regulations, and professional standards governing their practice. This includes compliance with accounting standards and tax laws.

Corporate Secretaries:

1. Integrity: They should provide accurate and transparent information to the board of directors and stakeholders.
2. Confidentiality: They must maintain the confidentiality of sensitive information and protect against unauthorized disclosure.
3. Independence: Corporate secretaries should exercise independence in their role, providing impartial and unbiased support to the board of directors.
4. Transparency and accountability: They should ensure that board decisions are documented and that corporate governance practices are followed.
5. Compliance and legal obligations: Corporate secretaries must ensure that the organization complies with all applicable laws, regulations, and corporate governance guidelines.
6. Board support: Corporate secretaries should provide effective support to the board of directors, including organizing meetings, preparing agendas, and maintaining accurate records of board proceedings.
7. Conflict resolution: In the event of conflicts within the board or between stakeholders, corporate secretaries may play a role in facilitating resolution while maintaining objectivity and fairness.