Codes of Professional Conduct & Ethics

ISCA Code of Professional Conduct and Ethics

Members of ISCA must adhere to the Code of Professional Conduct and Ethics issued by ISCA (ISCA Code). The ISCA Code is modelled after the Code of Ethics for Professional Accountants published by the International Ethics Standards Board for Accountants (IESBA) of the International Federation of Accountants (IFAC). It also encompasses any other provisions included in the Code of Professional Conduct and Ethics for Public Accountants and Accounting Entities issued by the Accounting and Corporate Regulatory Authority (ACRA). The ISCA Code contains three parts:- 

- Part A establishes the fundamental principles of ethics for professional accountants and provides a conceptual framework for applying those principles;

- Part B illustrates how the conceptual framework is to be applied by professional accountants in public practice; and

- Part C illustrates how the conceptual framework is to be applied by professional accountants in business.


 ACRA Code of Professional Conduct and Ethics for Public Accountants and Accounting Entities 

All public accountants in Singapore must adhere to the Code of Professional Conduct and Ethics for Public Accountants and Accounting Entities issued by ACRA (ACRA Code). The ACRA Code can be found in the Fourth Schedule of the Accountants (Public Accountants) Rules, a subsidiary legislation of the Accountants Act.


 IESBA Code of Ethics for Professional Accountants

The Code of Ethics for Professional Accountants issued by IESBA (IESBA Code) establishes ethical requirements for professional accountants. A member body or firm may not apply less stringent standards than those stated in the IESBA Code.

The objective of setting the IESBA Code is to harmonise ethical standards and practices on a global basis. Public trust in the accountancy profession can only be enhanced when it is made mandatory for professional accountants to observe and follow strict regulations and ethics codes throughout the world.