CPDStore Ireland

We continue with an in-depth discussion of important provisions of the Code of Ethics. This reflects the importance of the Code for professional accountants and to ensure that a detailed knowledge will assist in the successful application of the provisions of the Code to reduce the risk of non-compliance. What will be covered?

During this session Ulrich Schäckermann will cover:

• The concept of networks and network firm which are relevant in dealing with conflicts of interest and the independence of professional accountants in relation to audit and review of financial information.
• Considering the ethical issue of relevant to the appointment of new clients and the acceptance and change in engagements. These issues are very relevant as numerous compulsory provisions are contained in the Code which will assist the professional accountant to avoid engaging with clients of dubious character.

After the session you will be able to deal with the complex issues in relations to network firms and professional appointments as well as changes in engagements when they occur. Being aware of what constitutes a network, and a network firm, will provide you with the necessary confidence in identifying situations that need to be addressed, identifying potential conflicts of interest in terms of section 310.

You will also gain a better understanding of the independence requirements set out in Part 4a of the Code dealing with auditor’s independence and the impact networks and network firms can have on this obligatory consideration for independence.

Acting with the necessary independence when conducting an audit or a review of a client’s financial statements, is a prerequisite for all professional accountants and with the knowledge conveyed in the presentation you will be able to comply with the assessing of your independence and using professional judgement to be able to comply with the requirements of the Code and acting in the public interest.

The session is targeted for professional accountants in public practice. It only addresses issues that are of explicit concern to professional accountants in public practice. 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.