Download ican new code of ethics to fight financial fraud

The International Association of Certified Accountants (ICAN) has a Code of Ethics that outlines the principles and standards for professional accountants to follow in their work. Here is the latest version of the ICAN Code of Ethics:

ICAN Code of Ethics (2020)

Preamble

The Institute of Chartered Accountants of Nigeria (ICAN) is committed to promoting the highest standards of professional conduct and ethics among its members. The Code of Ethics is designed to provide a framework for members to adhere to in their professional and personal conduct, and to ensure that they maintain the trust and confidence of the public, clients, and colleagues.

Principles

The Code of Ethics is based on the following principles:

1. Integrity: Members shall maintain the highest standards of integrity and honesty in all their professional and personal dealings.
2. Objectivity: Members shall maintain objectivity and impartiality in all their professional and personal dealings.
3. Professional Competence: Members shall maintain professional competence and stay up-to-date with developments in their profession.
4. Confidentiality: Members shall maintain confidentiality and respect the privacy of clients and others.
5. Professional Behavior: Members shall conduct themselves in a professional and respectful manner, and shall not engage in any behavior that could bring the profession into disrepute.

Standards

The Code of Ethics is divided into three standards:

Standard 1: Professionalism

• Members shall maintain the highest standards of professionalism and shall not engage in any behavior that could bring the profession into disrepute.
• Members shall respect the rights and interests of clients, colleagues, and others.

Standard 2: Confidentiality

• Members shall maintain confidentiality and respect the privacy of clients and others.
• Members shall not disclose confidential information without the consent of the client or as required by law.

Standard 3: Integrity

• Members shall maintain the highest standards of integrity and honesty in all their professional and personal dealings.
• Members shall not engage in any behavior that could compromise their independence or objectivity.

Fighting Financial Fraud

The ICAN Code of Ethics also provides guidance on fighting financial fraud. Specifically, members are expected to:

• Maintain the highest standards of integrity and honesty in all their professional and personal dealings.
• Report any suspected financial fraud or irregularities to the relevant authorities.
• Cooperate with investigations and audits to prevent and detect financial fraud.
• Maintain confidentiality and respect the privacy of clients and others, and shall not disclose confidential information without the consent of the client or as required by law.

Conclusion

The ICAN Code of Ethics is designed to provide a framework for members to adhere to in their professional and personal conduct, and to ensure that they maintain the trust and confidence of the public, clients, and colleagues. By following the Code of Ethics, members can help to prevent and detect financial fraud, and maintain the highest standards of professionalism and integrity.