Members of CPA Australia are required to comply with APES 110 Code of ethics for professional accountants, part of which deals with issues relating to professional independence for assurance engagements (section 290).
The standard addresses issues relating to professional independence where an existing client of a member engages the client to provide assurance services and where the member's ability to provide these services could potentially be compromised by existing engagements.
The standard is based on the Code of Ethics for Professional Accountants issued by the International Federation of Accountants.
APES 110 can be found in the members handbook Members' Handbook or on the Accounting Professional and Ethical Standards Board (APESB) website.
To assist members in understanding the requirements of section 290 of APES 110, the Independence guide: interpretations in a co-regulatory environment, was issued in June 2008.
This guide was prepared by the Joint Accounting Bodies (CPA Australia, the Institute of Chartered Accountants in Australia and the National Institute of Accountants) and is intended to provide a clear indication of the conceptual approach adopted and practical examples of independence issues encountered by accountants and auditors.
