Accounting Principle Letter 2022

Running head: ACCOUNTING PRINCIPLE
Accounting principle
Name of the student:
Name of the university:
Authors note:

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ACCOUNTING PRINCIPLE
MEMORANDUM
To: The director
From:
CC:
Subject: Maintain APES 110 Code of ethics in profession.
Date: 26th September 2019
This memorandum is based on APES 110 code of ethics and relate to the professional
accountants and other professional accounting code. According to APES 110 code of Ethics
of professional Accountants, an accountant needs to follow a proper code of ethics while
performing audit work that influences a positive effect in the professional judgements.
According to the law of ethics, a professional need is there to expertise in his performance
while performing his duties. Julia, the expert investment decision provider, should handle this
issue by keeping in mind the “fundamental principles of professional ethics”.
By the provisions and principles that are issued under APES 110 code of ethics the
Fundamental principles of a professional are as follows:
Integrity: According to subsection 111, it is generally implied that an accountant needs to be
straightforward as well as honest in his performance. While performing his duties and
responsibilities, he should not allow any biasness on individuals. A professional shall not
wittingly be related to returns, reports, communications or different info wherever the Clients
believe that the information is Contains a significantly false or dishonest statement, Contains
statements or info provided recklessly and obscures needed information wherever such
omission would be unfair.

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ACCOUNTING PRINCIPLE
Objectivity: According to subsection 112, while performing the duties, an accountant should
disallow his personal feelings or prejudices, which is probably can make some negative
impacts on his performances. To effect proper professional judgments, an accountant needs to
reject the conflict in interest for decision impairment process. A business person shall need to
adjust the proposition of perspicacity, which is requires to be not to understanding a skilled or
organization judgment attributable due to any bias, conflict of interest or undue influence of
others. He shall not undertake knowledgeable Activity if a circumstance or relationship
unduly influences the professional judgment concerning that Activity.
Professional competence: According to the subsection 113, maintenance of knowledge and
skills as per requirements of professional bodies, continuation of education and experience of
work, being up to date with respect to regulation and standard.As per, with the principle of
professional competence a member should comply with a care. Member has the requirements
for maintenance of professional knowledge as well as level of skills to make sure that client
has received with professional activities those are competent. On the basis of current
technical as well as professional standards and also with respect to legislation that is relevant.
Confidentiality: According to subsection 114, the limit for disclosing into to outside people
of workplace understood as an impact of employment disallowed to use info that is
confidential as per other person advantages. With the principle of confidentiality accountant
should be complying with that has a requirement for respecting the privacy by accountant for
information gained due to professional as well as businesses relationship. For the possibility
related to inadvertent disclosure inclusion of social environment and business associate to
very close to the family of accountant in that case accountant should be alert. Accountant is
needed to maintain further information confidentiality within the organization. An accountant
also required to maintain the confidentiality of the information disclosed by a prospective
member or operating business.