RSM423H1 Chapter Notes - Chapter 18: Conflict Resolution
Document Summary
Professional rules of conduct details and auditor responsibilities. Auditors have three areas of responsibility to society: moral responsibilities. A public accountant should be upright, not kept upright. : professional responsibilities. Covered by the rules of conduct: legal responsibilities. Professional competence and due care principles are required under the rules of conduct, as well as under gaas. The professional competence and due care principles are a comprehensive statement of general standards that accountants are expected to observe in all areas of practice. These are principles that enforce the various series of professional standards. Pas shall perform professional services in accordance with generally accepted standards of practice for the profession. Extension and refinement of the due care principle. Practical effect of the rule is to make noncompliance with all technical standards subject to disciplinary proceedings. The failure to follow auditing standards, accounting and review standards, and assurance, compilation and professional conduct standards is a violation of this rule.
