IFAC, the International Federation of Accountants, is to organise a Forum in Brussels on 11 October 2005. One of the objectives of the Forum is to raise awareness of the recently issued updated Code of Ethics for Professional Accountants. The updated Code establishes a conceptual framework for all professional accountants to ensure compliance with the five fundamental principles of professional ethics. Under the framework, all professional accountants will be required to identify threats to the fundamental principles and, if there are threats, apply safeguards to ensure that the threats are not compromised. The Code applies to all professional accountants, those in public practice and those in industry and government. In the Forum, the Committee will also be seeking feedback on experience with the implementation and enforcement of a Code of Ethics that is based on a principles based approach.
For more information about the Forum contact IFAC.
Related links: IFAC