INTHEBLACK September 2024 special edition - Flipbook - Page 23
CRACKING THE CODE
CPAs in Australia and New Zealand are required
to adhere to the APES 110 Code of Ethics for
Professional Accountants, (“the Code”), as issued
by the Accounting Professional and Ethical
Standards Board (APESB). The Code mandates
compliance with the fundamental principles of
integrity, objectivity, professional competence,
due care, confidentiality and professional
behaviour in all professional interactions.
Belinda Zohrab-McConnell, CPA Australia’s
regulation and standards lead, emphasises
that while it is crucial for accounting firms
and organisations to ensure all partners and
employees are aware of and comply with these
standards, the obligations outlined in the Code
ultimately sit with the individual members, not
their employers.
“The Code is written with the individual
member in mind, not the organisation they are
employed by, own or govern,” she says.
“This can create tension when a firm or
organisation consists of individuals, only some
of whom are bound by the Code’s requirements.
Therefore, it is incumbent upon such a firm or
organisation to adopt or adapt a framework for
an ethical culture. A member with a senior role
in such a firm or organisation is expected to be
influential in this respect.”
ETHICS ESSENTIALS intheblack.cpaaustralia.com.au 23
