Talking Cents

Ethical standards for accounting explained by our accountants for small business in Southbank - Part 2

Last week our accountants for small business in Southbank discussed the ethical standards for accounting, focusing on the principals of integrity and objectivity. This week our Melbourne small business accountants will run through the remaining principals of ethical conduct, being professional competence and due care, confidentiality and professional behaviour.

Professional Competence and Due Care
Professional competence and due care is the obligation of members to maintain professional knowledge and skill in order to ensure that clients or employers receive competent professional service. This means that our small business accountants in Melbourne CBD must act diligently in accordance with applicable technical and professional standards when engaging in their profession.

Confidentiality
Confidentiality refers to the principle that an accountant should refrain from disclosing outside the firm or using an organization’s confidential information without proper and specific authority from the client. Confidentiality also states that accountants, such as our accountants for small business in Melbourne, should not use confidential information to their personal advantage or for the benefit of others.

Professional Behaviour
This is the obligation for members to comply with relevant laws and regulations and avoid any action or omission that may bring discredit to the profession.

For more information on ethical standards for accounting, please contact our accountants for small business in Southbank.