Professional Ethics Tasks 1 - 4

Professional Ethics Tasks 1 - 4

1. Task One - legal, regulatory and ethical environment

   • Law
     • Criminal
     • Civil
   • Regulations
     • Who may be described as an accountant
     • reserved areas of accounting
   • Ethics
     • Objectives of accountancy profession
     • Does the law require compliance with ethical code

2. Task Two - professional competence and due care and professional behaviour

   • What is meant by professional behaviour
   • What behaviour shows professional competence and due care
     • Keeping up to date
       • How and when
     • What to do in a situation that takes an accountant outside the bounds of their technical competence

3. Task Three - Handling clients money

   • How and when client's money should be held and what it can be used for
   • How and when to account for monies held
   • Which principles are threatened if an accountant holds monies on a client's behalf
   • What crimes an accountant might be accused of if money goes astray

4. Task Four - Disclosure of confidential information

   • Circumstances which give rise to information being confidential
   • What an accountant should do/should not do with confidential information
   • Situations when an accountant MUST disclose confidential information
   • Registration as a data user with the Information Commissioner's Office