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Code of Ethics for Professional Accountants

 

  


Technical Resources

This webpage contains pronouncements, guides and articles that are relevant to the Code of Ethics for Professional Accountants.

 

Ethics Educational Video

In November 2018, the Institute has revised the Code of Ethics for Professional Accountants (the “revised Code”) adopting the International Code of Ethics for Professional Accountants (including International Independence Standards) issued by the International Ethics Standards Board (the “International Code”) in April 2018.

The revised Code issued by the Institute consists of the following Chapters:

  • A is based on the International Code

  • [B – not used]

  • C contains either local application or represents an amplification of provisions in the International Code (i.e. Chapter A of this Code)

  • D is a comparison of the revised Code with the International Code

  • E applies to specialized areas of practice

  • F contains guidelines on anti-money laundering and counter-terrorist financing for professional accountants.

Chapters C, E and F are carried forward from the extant Code of Ethics for Professional Accountants (Revised February 2018) and form an integral part of the revised Code.

Revisions to the non-assurance service ("NAS") provisions of the Code (Effective date: 15 December 2022)

The revised NAS provisions in Part 4A and Part 4B of Chapter A contain substantive revisions that will enhance the independence standards  by clarifying and addressing the circumstances in which firms and network firms may or may not provide a NAS to an audit or assurance client. The revised provisions include new requirements that expressly prohibit firms and network firms from providing certain types of NAS to their audit clients, especially when they are public interest entities (PIEs).

Revisions to the fee-related provisions of the Code (Effective date: 15 December 2022)

The revisions to the fee-related provisions of the code include a prohibition on firms allowing the audit fee to be influenced by the provision of services other than audit to the audit client; in the case of public interest entities, a requirement to cease to act as auditor if fee dependency on the audit client continues beyond a specified period; communication of fee-related information to those charged with governance and to the public to assist their judgments about auditor independence; and enhanced guidance on identifying, evaluating and addressing threats to independence.

 

 

Click below for more information:


 

901BTRIBe    HKICPA Code of Ethics for Professional Accountants (Revised 2022)

901BTRIBe    HKICPA Code of Ethics for Professional Accountants (Revised 2018)

901BTRIBe    IESBA International Code of Ethics for Professional Accountants (including International Independence Standards)

901BTRIBe    General guidance and references

 

Frequently used resources

 
 



Technical enquiries

  Click here to submit questions on standards issued by the Institute.
   
 

 

 

Revised Non-Assurance Services and Fee-related Provisions of the Code (Effective Date: 15 December 2022)

The Institute

 

IESBA

 

Revisions to the Code to Promote the Role and Mindset Expected of Professional Accountants (Effective Date: 31 December 2021)

The Institute

 

IESBA

 

Long Association of Personnel with an Audit Client (Effective Date: 15 December 2018)

IESBA

 

Responding to Non-Compliance with Laws and Regulations (Effective Date: 15 July 2017)

Institute

 

IESBA

 

COVID-19 Related Guidance

IESBA

 

Others

 

 

 

Last updated:  October 2022

 

 

 

 

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