CPDStore Ireland

Threats

Threats are an important part of the Code, requiring professional accountants to identify and to evaluate threats and then address them to eliminate any threats or to reduce them to an acceptable level. This requires the application of professional judgment and scepticism to achieve a professional outcome for the work to be performed. Of course, the identification work must be done prior to commencing the assignment. The complexities involve in this task will change and vary with clients in different industries which also increases with the size of the client and the task to be performed.

Conflict of interest

The concept of conflict of interest has become of greater importance in recent years and many different organisations and officers and directors in the public and private sectors have become aware that such a situation must be avoided. Over the years of its existence, the Code of Ethics has provided rules and guidance in respect of this topic and the Code has been amended on several occasions since its beginning. This is not a long section of the Code but it is of great importance and applicable to professional accountant accountants in business as well as professional accountants in public practice.

The course is targeted at professional accountants in public practice. It only addresses issues that are of explicit concern to them. The presentation is based on the International Ethics Standards published by the International Ethics Standards Board for Accountants with specific additional information as relates to the members of Chartered Accountants Ireland, as contained in their Code of Ethics. While other prescribed accounting bodies may have their own Code of Ethics or Conduct, the minimum requirement is that their Code must be no less stringent than the IESBA Code and this presentation will meet their requirements in most details.

The course is designed for recognised members of professional accounting bodies who are obliged to comply in their work performance with the requirements of the International Ethical Standards Board for Accountants which is a Standard Setting Body of the International Federation of Accountants.