QS Study

Rules of Conduct

Rules of Conduct are deliberate to direct members to meet the standard of professional conduct as specified in the Bye-laws.

Independence: A member in a public practice shall be independent in the performance of professional services as required by standards promulgated by bodies designated by the council.

Audit Committee: An audit committee is a selected number of members of a company’s board of directors whose responsibility include helping auditors remain independent of management. Most audit committees are made up of three to five or sometimes as seven directors who are not a part of company management.

Integrity and objectivity: In the performance of any professional service a number shall maintain objectivity’ and integrity shall be free of cornfields of interest and shall not knowingly misrepresent facts or subordinate his or her Judgment to others.

Confidential client information: A member in a public practice shall not disclose any confidential client information without the specific contingent fee any professional service if the member also performs for the cheat an audit, review or certain compilations of financial statements, or an examination of prospective financial statements. A member in public practice should also not prepare an original or amended tax return or chum for a tax refund for a contingent for any client.

Acts Discreditable: A member shall not commit an act discreditable to the profession. A discreditable act is not well defined in the rules of interpretations. The following are the some of the requirement contained in the interpretations –

  • Retention of client records: It is an act discreditable to retain a client’s record after a demand is made for them.
  • Discrimination and harassment in employment practices: A member is presumed to have committed have an act discreditable whenever the member is found to have federal, state or local anti-discrimination of laws.