APES 110 Code of Ethics for Professional Accountants Part C

Content Summary

This part of the Code explains how Part A and its conceptual framework apply to members in business. Members in public practice may also find this information relevant.

Members in business are members who are employed or engaged in commerce, industry, service, the public sector, education, the not-for-profit sector, regulatory bodies or professional bodies.

Members in business may encounter threats to compliance with the fundamental principles. Part C of the Code describes examples of threats that may be encountered and possible safeguards (created by the profession, legislation, regulation or the work environment), which can be applied to ensure that threats are either eliminated or reduced to an acceptable level. It does not describe all possible circumstances or relationships that members in business may encounter that could create threats to compliance with the fundamental principles.

Members are encouraged to be alert in order to identify potential threats to compliance with the fundamental principles.

Members may consider obtaining legal advice if they believe unethical behaviour will continue to occur within the employing organisation.
If despite the application of all possible safeguards, threats cannot be reduced to an acceptable level and unethical behaviour in the organisation continues, the member may conclude it is appropriate to resign from the employing organisation.

Part C applies to members in business, but members in public practice may also find it relevant.

Members in business