Page 25 - Microsoft Word - 00 IWB ACCA F7.docx

Chapter 3

Ethics and acceptance

Outcome

By the end of this session you should be able to:

 define and apply the fundamental principles of professional ethics

 define and apply the conceptual framework

 discuss the safeguards to offset the threats to the fundamental principles

 describe the auditor’s responsibility with regard to auditor independence,
conflicts of interest and confidentiality

 discuss the requirements of professional ethics and ISAs in relation to the
acceptance / continuance of audit engagements

 explain the preconditions for an audit

 explain the process by which an auditor obtains an audit engagement

 discuss the importance of engagement letters and their contents

and answer questions relating to these areas.

The underpinning detail for this chapter in your Integrated Workbook can
be found in Chapter 3 of your Study Text

21