Comments by the Auditing Standards Committee of the Auditing Section of the American Accounting Association on the IESBA Proposal, Responding to a Suspected Illegal Act

2013 ◽  
Vol 7 (1) ◽  
pp. C21-C29
Author(s):  
Mary B. Curtis ◽  
Kurt J. Pany ◽  
Mikhail Pevzner ◽  
Jesse C. Robertson ◽  
Jian Zhang
Keyword(s):  
Code Of Ethics ◽  
International Ethics ◽  
Auditing Standards ◽  
Illegal Acts

SUMMARY Recently, the International Ethics Standards Board for Accountants (IESBA) solicited public comments on their proposal to revise their standard of reporting on suspected illegal acts. This commentary summarizes the contributors' views on the various alternatives proposed in the IESBA proposal entitled, Responding to a Suspected Illegal Act. The exposure draft (which invited comments through December 15, 2012) can be found at http://www.ifac.org/sites/default/files/publications/files/IESBA-Code-of-Ethics-Illegal-Acts-Exposure-Draft.pdf. Our comments submitted to the IESBA appear below.

Comments by the Auditing Standards Committee of the Auditing Section of the American Accounting Association on the IESBA ED Release (August 14, 2014), Proposed Changes to Certain Provisions of the Code Addressing the Long Association of Personnel with an Audit or Assurance Client

2015 ◽  
Vol 9 (1) ◽  
pp. C18-C22
Author(s):  
Willie E. Gist ◽  
Urton L. Anderson ◽  
Diane J. Janvrin ◽  
Marshall K. Pitman
Keyword(s):  
Public Interest ◽  
Code Of Ethics ◽  
Extended Period ◽  
Data Availability ◽  
International Ethics ◽  
Audit Firm ◽  
Auditing Standards

SUMMARY On August 14, 2014 the International Ethics Standard Board for Accountants (IESBA) requested public comments to its Exposure Draft (ED) (IFAC 2014a) on proposed changes to the 2014 Code of Ethics for Professional Accountants (IFAC 2014b). The proposal aims to enhance the independence provisions of the Code to respond to threats that may be created by using the same audit firm personnel for audit or assurance engagements over an extended period of time. Among other things, the amendments would require (1) strengthened general provisions for all audits threatened by a long association of firm personnel, and (2) an increase in the mandatory “cooling-off” period, from two to five years, for the engagement partner on the audit of a public interest entity. The comment period ended November 12, 2014. This commentary summarizes the contributors' views on selected proposals in the ED. Data Availability: The Exposure Draft and related request for specific comments are available at: http://www.ethicsboard.org. Paragraph referencing in the ED is extracted from the Code, set out in the 2014 Handbook of the Code of Ethics for Professional Accountants, available at: https://www.ifac.org/ethics/iesba-code/.

scholarly journals Comments of the Auditing Standards Committee of the Auditing Section of the American Accounting Association on IESBA Consultation Paper: Improving the Structure of the Code of Ethics for Professional Accountants

2015 ◽  
Vol 9 (1) ◽  
pp. C12-C17 ◽  
Author(s):  
Gregory B. Gaynor ◽  
Diane J. Janvrin ◽  
Marshall K. Pittman ◽  
Mikhail B. Pevzner ◽  
Lourdes Ferreira White
Keyword(s):  
Code Of Ethics ◽  
Data Availability ◽  
International Ethics ◽  
Auditing Standards ◽  
Consultation Paper ◽  
Structure Code

SUMMARY Recently, the International Ethics Standards Board for Accountants (IESBA) solicited public comments on its Consultation Paper, Improving the Structure of the Code of Ethics for Professional Accountants. This commentary summarizes the contributors' views on the various questions asked in the IESBA Consultation Paper. Our comments submitted to IESBA appear below. Data Availability: The invitation to comment (which invited comments through February 4, 2015), with links to the consultation paper, is available at: http://www.ifac.org/publications-resources/improving-structure-code-ethics-professional-accountants/.

PROFESSIONAL CULTURE OF ACCOUNTANT AND AUDITOR: APPLICATION PRACTICE

2017 ◽  
Author(s):  
Inesa Shepel ◽  
◽  
Svitlana Skrypnyk ◽  
Hanna Holovchak ◽  
◽  
...  
Keyword(s):  
Code Of Ethics ◽  
Codes Of Ethics ◽  
Auditor Independence ◽  
Professional Culture ◽  
International Standards ◽  
Enterprise Management ◽  
Accounting System ◽  
Highly Qualified ◽  
International Ethics ◽  
The Individual

The creation of an integral enterprise management system at the present stage is impossible without a properly organized accounting system, which is headed by highly qualified accountants and auditors. Legislative innovations require from specialists in the accounting sphere not only the use of professional knowledge, but also possession of a broad outlook to understand the influence of the external and internal environment in which the enterprise conducts business, in addition, significant attention must be paid to a set of professional principles, values and ethical norms that in a general sense, they shape the professional culture of accountants and auditors. The functional basis of the professional culture of an accountant and auditor is a moral and legal culture. Characterizing the professional culture of accountants and auditors, it is often identified with professional ethics, that is, a code of rules. Codes of ethics are developed by professional communities of accountants and auditors, taking into account the relevance of global political, economic and social aspects. In 2019, the Code of Ethics for Professional Accountants, updated by the International Federation of Accountants and the Council on International Ethics Standards for Accountants, came into force, which also includes the International Standards for Auditor Independence, and is recommended for accountants and auditors to observe in order to form their professional culture. The Code requires a professional accountant and auditor to adhere to fundamental principles that take on particular importance during COVID-19 quarantine measures. In order to form a professional culture of an accountant and an auditor, taking into account the fundamental principles and taking into account the activities of specialists in a pandemic and quarantine measures, a model for the formation of a professional culture of accounting and additional professional principles, together with the use of traditional and pro active tools to ensure professional culture, contributes to the growth of both the individual and the qualified specialist, and allows you to increase your competitive position in the labor market.

scholarly journals Auditor Perceptions Of SAS 99: Do Two Expectation Gaps Still Exist?

2011 ◽  
Vol 20 (4) ◽  
Author(s):  
Linda B. Specht ◽  
Petrea Sandlin
Keyword(s):  
Financial Statement ◽  
Public Confidence ◽  
Certified Public Accountants ◽  
Font Size ◽  
Expectation Gap ◽  
Financial Statement Audit ◽  
Auditing Standards ◽  
Illegal Acts ◽  
Public Accountants ◽  
Sas 99

<p class="MsoBlockText" style="margin: 0in 0.5in 0pt;"><span style="font-style: normal; font-size: 10pt; mso-bidi-font-style: italic;"><span style="font-family: Times New Roman;">In 1988, the Auditing Standards Board released nine standards intended to narrow the previously identified &ldquo;expectation gap&rdquo;&mdash;a gap between the expectations of financial statement users and certified public accountants (&ldquo;Expectation Gap I&rdquo;).<span style="mso-spacerun: yes;">&nbsp; </span>A 1992 study of auditor perceptions of two of those standards dealing with errors, irregularities, and illegal acts of clients, revealed that there existed a second expectation gap, one between the standard setters and practicing CPAs (&ldquo;Expectation Gap II&rdquo;). Since then, the ASB has released two successor statements intended to address the issue of auditors&rsquo; responsibility to consider fraud in a financial statement audit.<span style="mso-spacerun: yes;">&nbsp; </span>This study examines auditor perceptions of the more recent pronouncement and reveals general skepticism among respondents regarding its effectiveness in promoting Congressional and public confidence in the auditing profession; i.e., little confidence that it will serve to reduce Expectation Gap I.<span style="mso-spacerun: yes;">&nbsp; </span>It also reveals the continued existence of Expectation Gap II.<span style="mso-spacerun: yes;">&nbsp;&nbsp; </span></span></span></p>

scholarly journals Telaah Literatur Kode Etik Auditor: Perspektif Maqashid Syariah Versi Imam Abu Zahrah

2021 ◽  
Vol 4 (1) ◽  
pp. 82
Author(s):  
Ahmad Ghozi Abdullah ◽  
Sepky Mardian
Keyword(s):  
Qualitative Study ◽  
Professional Competence ◽  
Code Of Ethics ◽  
Professional Behavior ◽  
Literature Study ◽  
International Ethics ◽  
A Value ◽  
Public Accountants

This study aims to explore the code of ethics for public accountants that correspond to the Maqashid Shariah Imam Abu Zahrah version and to explain the implementation of the code of ethics of the auditor that has been interpreted in the concept of Maqashid Shariah Imam Abu Zahrah version in practice. The method used in this study is qualitative. Qualitative study is used more emphasis on the study of literature. Study literature by analyzing the code of ethics for public accountants issued by Institut Akuntan Publik Indonesia (IAPI) and The International Ethics Standards Board for Accountants (IESBA), as well as explaining the code of ethics for public accountants based on the perspective of maqashid shariah. The results of this study explain that integrity, objectivity, professional competence, and caring attitude of prudence, confidentiality, professional behavior, and independence have a value of maqashid shariah which includes the elements of self-purification, fairness, and mashlahah.

scholarly journals External Auditors and Corporate Corruption: Implications for External Audit Regulators

2016 ◽  
Vol 10 (1) ◽  
pp. P1-P10 ◽  
Author(s):  
Rasha Kassem ◽  
Andrew W. Higson
Keyword(s):  
Critical Review ◽  
External Audit ◽  
External Auditors ◽  
Academic Literature ◽  
Audit Firms ◽  
Auditing Standards ◽  
Illegal Acts ◽  
Controversial Area ◽  
Audit Standards ◽  
Shed Light

SUMMARY The purpose of the current study is to examine the responsibility of external auditors in relation to corporate corruption and to highlight the implications of this for external audit regulators. The current study is based on a critical review of prior academic literature as well as a thorough examination of both the International and American Auditing Standards relating to fraud and illegal acts. External auditors have a responsibility for assessing corruption risks but their role was not clearly defined by external audit regulators. The current study was the first to clarify the responsibility of external auditors with regards to corporate corruption, and to shed light on current limitations in the audit standards related to this area. The current study also offers recommendations to audit regulators, external auditors, audit firms, and researchers on such controversial area.

scholarly journals Comments by the Auditing Standards Committee of the Auditing Section of the American Accounting Association on the International Monitoring Group Consultation, Strengthening the Governance and Oversight of the International Audit-Related Standard-Setting Boards in the Public Interest

2018 ◽  
Vol 12 (1) ◽  
pp. C1-C10 ◽  
Author(s):  
Denise Dickins ◽  
Marcus M. Doxey ◽  
Marshall A. Geiger ◽  
Christine Nolder ◽  
Pamela B. Roush
Keyword(s):  
Public Interest ◽  
Standard Setting ◽  
Accounting Education ◽  
Data Availability ◽  
International Accounting ◽  
International Ethics ◽  
The Public ◽  
Auditing Standards ◽  
Monitoring Group ◽  
International Audit

SUMMARY On November 9, 2017, the Monitoring Group (MG) overseeing international auditing standards issued a request for comment on its consultation paper (CP), Strengthening the Governance and Oversight of the International Audit-Related Standard-Setting Boards in the Public Interest. The CP presents a broad array of proposals to reform and restructure the three current auditing standard-setting groups it oversees (International Accounting and Assurance Standards Board [IAASB], International Ethics Standards Board for Accountants [IESBA], and International Accounting Education Standards Board [IAESB]). The CP suggests combining the three boards into a single board, and solicited public comment on the following areas: (1) key areas of overall concern, (2) guiding principles, (3) options for reform of the standard-setting boards, (4) options for the Public Interest Oversight Board (PIOB), (5) role of the monitoring group, (6) administration, including Standard-Setting Board staff, (7) process considerations, and (8) funding. The comment period ended on February 9, 2018. This commentary summarizes the participating committee members' views on selected questions for respondents posed by the MG. Data Availability: The concept release, including questions for respondents, is available at: https://www.iosco.org/library/pubdocs/pdf/IOSCOPD586.pdf

scholarly journals Responsibility of internal auditors in the management of fraud risks

Revizor ◽  
2021 ◽  
Vol 24 (93) ◽  
pp. 79-94
Author(s):  
Mile Stanišić
Keyword(s):  
Risk Management ◽  
Code Of Ethics ◽  
Internal Audit ◽  
Internal Auditing ◽  
Internal Auditors ◽  
Fraud Risk ◽  
Internal Audit Function ◽  
Auditing Standards ◽  
Management Controls ◽  
Fraud Risk Management

When fraud occurs in the organization, many wonder - where was the internal audit. The aim of this work is to determine what are the responsibilities of internal audit in the management of fraud risks and what regulations define them. Internal Auditing Standards and the Code of Ethics for Internal Auditors are places where the responsibility of internal auditors for managing fraud risks is established, and the Internal Audit Charter is a document that authorizes internal auditors. The internal audit function plays an important role in the overall monitoring of fraud risk management programs. This is primarily evident from the independent assurance that the internal audit function provides to the Board and management that existing fraud risk management controls are adequately planned and efective.

Research Consumerism 101: Evaluating External Evidence of Treatment Effectiveness

2008 ◽  
Vol 17 (2) ◽  
pp. 43-49
Author(s):  
James L. Coyle
Keyword(s):  
Treatment Effectiveness ◽  
Code Of Ethics ◽  
Oropharyngeal Dysphagia ◽  
Clinical Importance ◽  
Professional Services ◽  
Adverse Outcomes ◽  
Professional Judgment ◽  
Evidence Based ◽  
Intervention Selection ◽  
Published Research

Abstract The modern clinician is a research consumer. Rehabilitation of oropharyngeal impairments, and prevention of the adverse outcomes of dysphagia, requires the clinician to select interventions for which evidence of a reasonable likelihood of a successful, important outcome exists. The purpose of this paper is to provide strategies for evaluation of published research regarding treatment of oropharyngeal dysphagia. This article utilizes tutorial and examples to inform and educate practitioners in methods of appraising published research. It provides and encourages the use of methods of efficiently evaluating the validity and clinical importance of published research. Additionally, it discusses the importance of the ethical obligation we, as practitioners, have to use evidence-based treatment selection methods and measurement of patient performance during therapy. The reader is provided with tactics for evaluating treatment studies to establish a study's validity and, thereby, objectively select interventions. The importance of avoiding subjective or unsubstantiated claims and using objective methods of generating empirical clinical evidence is emphasized. The ability to evaluate the quality of research provides clinicians with objective intervention selection as an important, essential component of evidence-based clinical practice. ASHA Code of Ethics (2003): Principle I, Rule F: “Individuals shall fully inform the persons they serve of the nature and possible effects of services rendered and products dispensed…” (p. 2) Principle I, Rule G: “Individuals shall evaluate the effectiveness of services rendered and of products dispensed and shall provide services or dispense products only when benefit can reasonably be expected.” (p. 2) Principle IV, Rule G: “Individuals shall not provide professional services without exercising independent professional judgment, regardless of referral source or prescription.” (p. 4)

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