Short (30 min) presentation to our (@hanrickcurran) graduate intake regarding professional standards for accountants, spcifically the key principles in APES 110 / IFAC Code of Ethics for Professional Accountants

1. Welcome
Professional Standards and Ethics
February 2013
Topic Date

2. Disclaimer
This document contains information in summary form and is therefore intended for
general guidance only. It is not intended to be a substitute for detailed research or the
exercise of professional judgement. It does not purport to be comprehensive or to
render professional advice. The reader should not act on the basis of any matter
contained in this publication without first obtaining specific professional advice.
We believe that the statements made by us in this document are accurate but no
warranty of accuracy or reliability is given. Our conclusions are based on interpretations
of accounting standards and other relevant professional pronouncements and legislation
current as at the date of this document. Should the interpretations, accounting
standards, other relevant professional pronouncements or legislation change, our
conclusions may not be valid. We are under no obligation to update the matters
considered in this document after its publication.
© Hanrick Curran, February 2013
All rights reserved
Liability limited by a scheme approved under professional
Standards Legislation

3. Your Presenter – Matthew Green CA
• Over 15 years accounting and auditing experience
• Prepared financial statements for ASX listed companies
• Registered Company Auditor
Contact details: matthew.green@hanrickcurran.com.au
(+61)(0) 447 724 595
(+61)(0) 7 3218 3900
Twitter: @matthewjgreenca
LinkedIn: http://au.linkedin.com/in/matthewjgreenca
Financial Statements & Accounting Standards Update

4. What is Professionalism?
Self
Regulation
Client Body of
Focus Theory
Professional & Ethical Standards Feb 2013

5. Where do our Professional & Ethical Standards come from?
 Rules of the Institute of Chartered Accountants in Australia (ICAA)
 Accounting Professional & Ethical Standards Board (APESB)
 Corporations Act 2001 + related Acts
 Taxation Acts
Professional & Ethical Standards Feb 2013

6. What are the Professional & Ethical Standards?
Fundamental principles from
APES 110 Code of Ethics for Professional Accountants
 Integrity
 Objectivity
 Professional Competence and Due Care
 Confidentiality
 Professional Behaviour
Professional & Ethical Standards Feb 2013

7. Integrity
“To be straightforward and honest in all professional and business relationships”
Professional & Ethical Standards Feb 2013

8. Objectivity
“To not allow bias, conflict of interest or undue influence of others to override
professional or business judgements.”
Professional & Ethical Standards Feb 2013

9. Professional Competence and Due Care
“To maintain professional knowledge and skill at the level required to ensure that
a client or employer receives competent professional services based on current
developments in practice, legislation and techniques and act diligently and in
accordance with applicable technical and professional standards.”
Professional & Ethical Standards Feb 2013

10. Confidentiality
“To respect the confidentiality of information acquired as a result of professional
and business relationships and, therefore, not disclose any such information to
third parties without proper and specific authority, unless there is a legal or
professional right or duty to disclose, nor use the information for personal
advantage of the member or third parties.”
Professional & Ethical Standards Feb 2013

11. Professional Behaviour
“To comply with relevant laws and regulations and avoid any action that
discredits the profession.”
Professional & Ethical Standards Feb 2013

12. A tip for problem solving . . .
Issue
Law (or standards/framework)
Apply
Conclude
Professional & Ethical Standards Feb 2013

13. Some general tips
 Build deep relationships
 Don’t do anything but the very best work
 Know your job
 Build trust
 Learn your clients business
 Look after your boss
 Meet deadlines
Professional & Ethical Standards Feb 2013

14. About Hanrick Curran
Our client base is mainly located in South East
Queensland, but also extends to Northern New South
Wales, Western Queensland, Sydney, Melbourne,
Darwin, Townsville and Mackay as well as other regional
areas.
We have a strong position with clients in Papua New
Guinea and we also serve a growing Asian business
sector. While these international connections may not
be of immediate interest but we believe they are
important in enabling us to effectively serve our clients.
Hanrick Curran’s Client Base

15. Thank you.
Topic Date
www.hanrickcurran.com.au