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Accounting professional and ethical standards

PA Australia members have a responsibility to act in the public interest and comply with the fundamental principles of integrity, objectivity, professional competence and due care, confidentiality and professional behaviour in all their dealings. The Accounting Professional and Ethical Standards Board (APESB) sets the code of ethics and professional standards with which CPA Australia members must abide.

APES 110 Code of Ethics for Professional Accountants

The revised APES 110 Code of Ethics for Professional Accountants (the code) issued by the APESB became operative from 1 July 2011.

The code incorporates the content of the Code of Ethics for Professional Accountants issued by the International Ethics Standards Board for Accountants of the International Federation of Accountants. Additional sections that are unique to APES 110 (PDF) have the prefix AUST.

CPA Australia members practising in or outside of Australia must comply with the code unless they are prevented from doing so by applicable laws or regulations.

The code is divided in three parts:

  • Part A applies to all CPA Australia members
  • Part B applies to CPA Australia members in practice
  • Part C applies to CPA Australia members in business

In addition to the code, the APESB issued a number of standards that are mandatory for CPA Australia members. The APES 200 series applies to all CPA Australia members in public practice

Professional Standards

Professional standards applicable to all CPA Australia members:

  • APES 205 Conformity with Accounting Standards
  • APES 210 Conformity with Auditing and Assurance Standards
  • APES 215 Forensic Accounting Services
  • APES 220 Taxation Services
  • APES 225 Valuation Services
  • APS 12 Statement of Financial Advisory Services Standards (standard under review)

Professional standards applicable to CPA Australia members in public practice:

Issued Standards

APESB standards contain the professional and ethical requirements relating to the conduct and performance of professional services across various types of engagements or assignments. They are mandatory for members of the professional accounting bodies. APESB standards currently fall into the following four categories:

  • Code of Ethics for Professional Accountants (‘APES 100’ series)
  • Professional standards applicable to all members (‘APES 200’ series)
  • Professional standards applicable to members in public practice (‘APES 300’ series)
  • Professional standards applicable to members in business (‘APES 400’ series)