This course covers (1) the International Ethics Standards Board for Accountants, (2) the International Federation of Accountants’ Role, (3)  the Handbook of the Code of Ethics for Professional Accountants, (4) Part A of the Code  of Ethics which discusses general application, fundamental principles and the conceptual framework outlined in the Code. A distinguishing mark of the accountancy profession is its acceptance of the responsibility to act in the public interest. Therefore, a professional accountant shall observe and comply with the Code of Ethics.

ENTRY COMPETENCIES of Participants (Prerequisites): No technical prerequisites

COURSE OBJECTIVES/LEARNING OUTCOMES Expected from the course program:

LEARNING OUTCOMES

TOPICS TO BE DISCUSSED

Specific OBJECTIVES OF THE TOPICS OR SUBTOPICS

Gain an overview and understanding of International Ethics Standards Board of Accountants.

Objectives, overview and history of the International Ethics Standards Board of Accountants (IESBA) and  Handbook of the code of ethics for Professional Accountants

Learn the objectives, overview and history of the International Ethics Standards Board of Accountants (IESBA) and the Handbook of this code. Also, appreciate its relevance and importance of Code of Ethics to the Accounting Profession. 

Gain an overview and understanding the Role of International Federation of Accountants.

Overview of the role of International Federation of Accountants (IFAC) and its history.

Learn the overview of the role of International Federation of Accountants and the history of IFAC.

Understand the Part A of the Code of Ethics – General Application and Fundamental Principles

(1) Introduction of the General Application of Code Ethics and (2) Its Fundamental Principles.

Learn the overview of the General Application of the Code and its Fundamental Principles such as (1) Integrity, (2) Objectivity, (3) Professional Competence and Due Care, (4) Confidentiality and (5) Professional Behaviour.

Understand the Part A of the Code of Ethics – The Conceptual Framework Approach

The Conceptual Framework Approach

Learn the overview the Conceptual Framework Approach

Understand the Part A of the Code of Ethics – Threats to Auditor’s independence

Part A - Threats to Auditor’s Independence

To understand the Threats to Auditor’s Independence such as (1) Self-interest threat, (2) Self-review threat, (3) Advocacy Threat, (4) Intimidation Threat, and (5) Familiarity Threat.

Understand the Part A of the Code of Ethics – Examples of Safeguards

Part A - Safeguards to eliminate or reduce the threats to acceptable level.

To know the safeguards to eliminate or reduce the threats to acceptable level such as (1) Safeguards created by the profession, legislation or regulation and (2) Safeguards in the work environment

Master the facts and principles covered in the lesson

Short Quiz (Multiple Choice)

Gain mastery of the principles and application of what was covered in the module

 

*EVALUATION by the CPD PROVIDER:  Passing rate is 75%. Participant can stream the training video and retake for an unlimited number of times until the subject is mastered.

Course Curriculum

  • 1

    Important Reminders Before You Start Your Training

    • Daily Training Limit, Time Zone and Other Reminders
  • 2

    Test Your Knowledge

    • Test Your Knowledge
  • 3

    Introduction to the Code of Ethics

    • Code of Ethics for Professional Accountants Lesson - Fundamental Principles

    • Standard Setting Body and Governing Law

    • Overview of the Code of Ethics
  • 4

    SECTION REVIEW: Introduction

    • SECTION REVIEW: Introduction
  • 5

    Fundamental Principles

    • Overview of the 5 Fundamental Principles

    • Discussion: Fundamental Principles Part 1

    • Quiz 1

    • Discussion: Fundamental Principles Part 2
  • 6

    SECTION REVIEW: Fundamental Principles

    • SECTION REVIEW: Fundamental Principles
  • 7

    Conceptual Framework

    • Overview: Conceptual Framework and Threats

    • Introduction to the Conceptual Framework

    • Private Morality and Values
  • 8

    SECTION REVIEW: Conceptual Framework

    • SECTION REVIEW: Conceptual Framework
  • 9

    Conceptual Framework Approach

    • Applying the Conceptual Framework Approach

    • Overview: Safeguards
  • 10

    SECTION REVIEW: Conceptual Framework Approach

    • SECTION REVIEW: Conceptual Framework Approach
  • 11

    CONCLUSION

    • Conclusion
  • 12

    EXERCISES

    • List of Scenarios

    • SCENARIO 1

    • SCENARIO 1 - Questions

    • SCENARIO 2

    • SCENARIO 2 - Questions

    • SCENARIO 3

    • SCENARIO 3 - Questions
  • 13

    CASE STUDY

    • CASE STUDY: MANAGING MS. X AND MR. Y

    • CASE STUDY - QUESTIONS
  • 14

    Quiz

    • Quiz: Code of Ethics for Professional Accountants - Fundamental Principles and the Conceptual Framework
  • 15

    Evaluation Form

    • Evaluation Form and Attendance Sheet (as required under PRC Resolution no. 1244 Series of 2020)

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