International Federation of Accountants (IFAC) Code of Ethics

The Code of Ethics issued by Chartered Accountants Ireland is based on the International Federation of Accountants Code of Ethics.

IFAC has recently revised its code and we have implemented revisions to align to the new IFAC Code with effect from 1 July 2011.

The new changes are:

  1. To revise terminology and improve clarity
  2. To make some significant changes to the Auditor Independence Process

The independent changes do not affect auditors of Irish or UK companies as the APB Ethical Standards apply.

Stephen Chan, a partner in BDO Limited Hong Kong, has summarised the changes that will apply in a more detailed article.

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