“IFAC defines the public interest as the net benefits derived for, and procedural rigor employed on behalf of, all society in relation to any action, decision or policy.” “Publicly stating the commitment to serving the public interest over their own and/or their employer’s private interests should make auditors mindful of their role and responsibilities as guardians of the public trust in capital markets and the corporate system,” Van Mourik, C; Humphrey, C (2019) PIE, directors and statutory auditor public interest statements – a note for the Brydon Review as cited in Brydon, D (2019) Report of the Independent Review into the Quality and Effectiveness of Audit. Required
|
“IFAC defines the public interest as the net benefits derived for, and procedural rigor employed on behalf of, all society in relation to any action, decision or policy.”
“Publicly stating the commitment to serving the public interest over their own and/or their employer’s private interests should make auditors mindful of their role and responsibilities as guardians of the public trust in capital markets and the corporate system,” Van Mourik, C; Humphrey, C (2019) PIE, directors and statutory auditor public interest statements – a note for the Brydon Review as cited in Brydon, D (2019) Report of the Independent Review into the Quality and Effectiveness of Audit. |
Required
Critically appraise the role of the IFAC 2019 Code of Ethics in promoting the consideration of the public interest in professional accountants in business and conclude whether, in your opinion, this discharges our duty to act in the public interest.
Step by step
Solved in 2 steps
