Professional Ethics

Chapter 18: Professional Ethics
A	Fundamental Principles	Integrity (Subsection 111)	Honest & Straightforward in all professional & business relationships
			Shall not Knowingly Associated  1. False or misleading statements  2. Information or statement issued negligently  3. Omit important information which is misleading
		Objectivity (Subsection 112)	Not to compromise professional or business judgement because of bias, conflict of interest or undue influence of others.
		Professional Competence & Due Care (Subsection 113)	Maintaining professional knowledge
			Act diligently as per professional & technical standards
			Keep ourselves updated
		Confidentiality (Subsection 114)	To respect the confidentiality of information acquired as a result of professional and employment Relationships-Not to use or disclose without proper authorization
			Exception: Legal or professional duty to disclose
		Professional Behavior (Subsection 115)	Comply with the relevant laws
			Also, should not engage in any activity that impairs any of the fundamental Principles
B	Threats, Evaluation of Threats & Safeguards	Threats	Self Interest	Any financial interest
			Self-Review	Not appropriately performed the activity
			Advocacy
			Familiarity
			Intimidation
		3 Step Approach	#1: Understand the threat	Situation which causing the threat to arise
			#2: Evaluate the threat	1. How much Risk is Present??  2. What we need to do to bring the threat to an acceptably low Level??
			#3: Apply the Safeguards	Address the threat introducing additional controls or checks